Amortization Schedule Calculator
An amortization schedule shows where each monthly payment actually goes. Early payments are mostly interest; later ones are mostly principal. Enter a loan and see the whole path.
The loan
Scheduled principal & interest
$2,275/mo
Over 30 years you'd pay about $459,160 in interest at an assumed 6.500% rate.
Where the money goes
- Total principal
- $360,000
- Total interest
- $459,160
- Total paid
- $819,160
- Payments
- 360
- First payment interest
- $1,950
- First payment principal
- $325
Principal repaid
$360,000
Interest paid
$459,160
Total of all payments
$819,160
The balance falls below half the original loan in year 22. Until then, more of each payment goes to interest than to principal on most loans.
Want to understand this number?
Payment schedule
Interest, principal and remaining balance for each period.
| Year | Interest | Principal | Balance |
|---|---|---|---|
| 1 | $23,282 | $4,024 | $355,976 |
| 2 | $23,012 | $4,293 | $351,683 |
| 3 | $22,725 | $4,581 | $347,102 |
| 4 | $22,418 | $4,888 | $342,214 |
| 5 | $22,090 | $5,215 | $337,000 |
| 6 | $21,741 | $5,564 | $331,435 |
| 7 | $21,368 | $5,937 | $325,498 |
| 8 | $20,971 | $6,334 | $319,164 |
| 9 | $20,547 | $6,759 | $312,405 |
| 10 | $20,094 | $7,211 | $305,194 |
| 11 | $19,611 | $7,694 | $297,500 |
| 12 | $19,096 | $8,210 | $289,290 |
| 13 | $18,546 | $8,759 | $280,531 |
| 14 | $17,959 | $9,346 | $271,185 |
| 15 | $17,333 | $9,972 | $261,213 |
| 16 | $16,666 | $10,640 | $250,573 |
| 17 | $15,953 | $11,352 | $239,221 |
| 18 | $15,193 | $12,113 | $227,108 |
| 19 | $14,382 | $12,924 | $214,184 |
| 20 | $13,516 | $13,789 | $200,395 |
| 21 | $12,592 | $14,713 | $185,682 |
| 22 | $11,607 | $15,698 | $169,984 |
| 23 | $10,556 | $16,750 | $153,234 |
| 24 | $9,434 | $17,871 | $135,363 |
| 25 | $8,237 | $19,068 | $116,295 |
| 26 | $6,960 | $20,345 | $95,950 |
| 27 | $5,598 | $21,708 | $74,242 |
| 28 | $4,144 | $23,162 | $51,081 |
| 29 | $2,593 | $24,713 | $26,368 |
| 30 | $938 | $26,368 | $0 |
How this calculator works
Each month, interest is the remaining balance multiplied by the annual rate divided by twelve. Whatever is left of the fixed payment reduces the balance. Because the balance shrinks, the interest share falls a little every month and the principal share grows.
The yearly view adds up the monthly rows, so the last column is the balance at the end of that year. Total interest is the sum of every interest amount across the term.
What it can't tell you
- This is principal and interest only. Your real monthly payment likely also includes property taxes, homeowners insurance, mortgage insurance and possibly HOA dues.
- Adjustable-rate loans, interest-only periods and balloon structures do not follow this schedule.
- Servicers apply payments on their own posting schedules, so real statements can differ by small amounts.
- Extra principal changes the schedule — use the extra payment calculator to model that.