Amortization Schedule Calculator Online

Understand your mortgage payments over time with our user-friendly (free) Amortization Schedule Calculator. This calculator provides a detailed breakdown of principal and interest payments, helping you understand how each payment contributes to your loan balance.

An amortization schedule is a complete table of periodic loan payments, breaking down the allocation of each payment into principal and interest. With our Amortization Schedule Calculator, users can get a clear picture of how each mortgage payment is divided. Over time, a larger portion of each payment goes towards the principal, reducing the loan balance, while the amount attributed to interest decreases. This tool is a valuable asset for anyone seeking to understand the lifecycle of their loan and how their equity in the property increases over time. Learn more about amortization at investopedia or view our list of other real estate related calculators.

While the Amortization Schedule Calculator is useful in visualizing how mortgage payments are allocated over time, it’s important to be aware of its limitations. For instance, this calculator assumes a fixed interest rate for the entire loan term, which might not be the case with adjustable-rate mortgages. It also doesn’t factor in extra payments made towards the principal, which could reduce your loan term and save on interest. Additionally, it does not include expenses like property taxes and insurance which are part of your total housing cost. Therefore, users should use this tool as a guide and consult with a financial advisor or lender for a more accurate and personalized amortization schedule.

How To Use Our Amortization Schedule Calculator Online


Enter Your Loan Details

Enter your loan amount, loan term in years, and the interest rate. The loan amount is the total sum you've borrowed, the loan term is the duration over which you plan to repay the loan, and the interest rate is the percentage that the lender charges annually for borrowing the money. These details should be available in your mortgage agreement.



Once you've filled in all the fields, click on the 'Calculate' button. The calculator will use the information provided to generate an amortization schedule for the first year of your mortgage.


Review Your Amortization Schedule

The calculator will display an amortization schedule that shows how each of your first 12 payments is split into principal and interest, as well as the remaining loan balance after each payment. This helps you understand how much of your monthly payments are actually going towards paying off your loan, versus how much is going towards interest. Keep in mind that this amortization schedule is based on the assumption that you will only make the minimum required payments each month.


Generate that amoritization schedule

Month Interest Principal Remaining Balance

How Should You Use This Information?

Understanding the results of an amortization calculator can be a game-changer in managing your loans effectively. Firstly, by getting a clear picture of how much of your monthly payment goes toward the principal and how much is just paying off the interest, you can make informed decisions about additional payments. Making extra contributions towards the principal, especially in the early stages of the loan, can result in significant interest savings over time. If your financial situation allows, consider rounding up your monthly payments or even making an additional half-payment every six months. Over the term of a loan, these seemingly minor adjustments can lead to a quicker loan payoff and substantial savings.

Additionally, the calculator provides a unique perspective on the long-term implications of taking on a loan. By observing the gradual decrease in interest payments and the corresponding increase in principal contributions as the months go by, users can assess the true cost of borrowing. This awareness can be a valuable tool when negotiating loan terms, comparing different loan offers, or even deciding the ideal term length for a new loan. Furthermore, if refinancing opportunities arise in the future, having a deep understanding of your current loan’s amortization can place you in a strong position to evaluate the potential benefits of a new loan structure.