Amortization Schedule Calculator
Generate a full payment schedule showing principal and interest for every payment.
Amortization Schedule
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This tool is for informational and educational purposes only. It is not a substitute for professional financial, medical, legal, or engineering advice. See Terms of Service.
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An amortization schedule shows exactly how each mortgage payment is split between principal and interest over the life of your loan. Here is how to generate yours:
- Enter your loan amount. This is the mortgage principal, which is the home price minus your down payment.
- Set the interest rate. Use your actual mortgage rate or a current market rate for planning purposes.
- Choose the loan term. 30-year and 15-year are the most common options.
The calculator instantly shows your monthly payment and generates a complete amortization table. Toggle between yearly and monthly views. Use the Export CSV button to download the full month-by-month schedule for your spreadsheet.
Early in the loan, most of your payment goes to interest. Over time, the principal portion grows while the interest portion shrinks. This is why making extra payments early has such a large impact on total interest.
About Amortization
Amortization is the process of paying off a loan through regular, equal payments over a fixed period. Each payment covers the interest owed for that period plus a portion of the principal. The standard formula ensures the loan reaches a zero balance at the end of the term.
For a 30-year mortgage, you will make 360 monthly payments. The first payment might be 70% interest, while the last payment is nearly 100% principal. Understanding this schedule helps you evaluate the true cost of your mortgage and the benefit of strategies like extra payments or refinancing.
Frequently Asked Questions
What is an amortization schedule?
An amortization schedule is a table showing every payment on a loan, broken down into principal and interest portions, along with the remaining balance after each payment. It shows how a fixed-rate mortgage is gradually paid off over time.
Why does most of my payment go to interest at first?
Interest is calculated on the remaining balance. When the balance is high (early in the loan), the interest charge is large, leaving less of your fixed payment for principal. As you pay down the balance, interest decreases and more goes to principal.
Can I export the amortization schedule?
Yes. Click the Export CSV button to download the full month-by-month schedule. You can open it in Excel, Google Sheets, or any spreadsheet application for further analysis.
How does loan term affect total interest paid?
A longer loan term means lower monthly payments but significantly more total interest. For example, a $280,000 loan at 6.5% costs about $357,000 in interest over 30 years, but only about $159,000 over 15 years. That is nearly $200,000 in savings for the shorter term.