What Is an Amortization Schedule?

An amortization schedule is a row-by-row table of every mortgage payment. Each row shows how much went to principal, how much to interest, and what balance remains. It answers a question the monthly bill alone does not: where your money went over time.

What each column means

• Payment number / date — which month in the loan
• Scheduled payment — monthly P&I (plus any extra principal entered)
• Principal — amount that reduces your balance
• Interest — beginning balance × monthly rate
• Remaining balance — what you still owe after the payment

Yearly vs monthly view

Monthly detail helps plan extra principal. A yearly summary rolls up total principal, total interest, and ending balance per year. Both views are in the amortization calculator.

Extra payments change the table

When you add monthly extra principal, the schedule shortens: fewer rows, less total interest, faster balance decline. The extra payment calculator summarizes the savings; the schedule shows each month's effect.

What schedules usually omit

Standard tables cover P&I only — not property taxes, insurance, PMI, or HOA. They assume a fixed rate and on-time payments. PMI cancellation mid-loan is not modeled on this site. See methodology for limitations.