Amortization Calculator
Build a full amortization schedule for any loan or mortgage and see how extra monthly payments cut the interest and the term. Free.
- Total interest
- 289,595.47
- Total of all payments
- 539,595.47
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | 3,070.03 | 14,916.49 | 246,929.97 |
| 2 | 3,259.38 | 14,727.13 | 243,670.59 |
| 3 | 3,460.41 | 14,526.10 | 240,210.18 |
| 4 | 3,673.84 | 14,312.67 | 236,536.33 |
| 5 | 3,900.44 | 14,086.08 | 232,635.89 |
| 6 | 4,141.01 | 13,845.51 | 228,494.88 |
| 7 | 4,396.42 | 13,590.10 | 224,098.46 |
| 8 | 4,667.58 | 13,318.94 | 219,430.89 |
| 9 | 4,955.47 | 13,031.05 | 214,475.42 |
| 10 | 5,261.11 | 12,725.41 | 209,214.31 |
| 11 | 5,585.60 | 12,400.91 | 203,628.71 |
| 12 | 5,930.11 | 12,056.41 | 197,698.60 |
| 13 | 6,295.87 | 11,690.65 | 191,402.74 |
| 14 | 6,684.18 | 11,302.34 | 184,718.56 |
| 15 | 7,096.45 | 10,890.07 | 177,622.11 |
| 16 | 7,534.14 | 10,452.38 | 170,087.97 |
| 17 | 7,998.83 | 9,987.69 | 162,089.14 |
| 18 | 8,492.18 | 9,494.34 | 153,596.97 |
| 19 | 9,015.96 | 8,970.56 | 144,581.01 |
| 20 | 9,572.04 | 8,414.47 | 135,008.97 |
| 21 | 10,162.42 | 7,824.09 | 124,846.54 |
| 22 | 10,789.22 | 7,197.29 | 114,057.32 |
| 23 | 11,454.68 | 6,531.84 | 102,602.64 |
| 24 | 12,161.18 | 5,825.34 | 90,441.47 |
| 25 | 12,911.25 | 5,075.27 | 77,530.22 |
| 26 | 13,707.59 | 4,278.93 | 63,822.63 |
| 27 | 14,553.04 | 3,433.47 | 49,269.59 |
| 28 | 15,450.64 | 2,535.87 | 33,818.95 |
| 29 | 16,403.60 | 1,582.91 | 17,415.34 |
| 30 | 17,415.34 | 571.17 | 0.00 |
Where every payment goes
An amortization schedule shows each payment split into interest and principal, and the balance left after it. Interest is charged on the remaining balance, so it's highest at the start and falls each month as the balance shrinks. Add an extra monthly payment to see how much sooner you'd be debt-free and how much interest you'd save: on a 30-year loan, even a small extra payment can cut years off the term. Switch between the yearly summary and the month-by-month schedule.
How to use it
- 1
Enter the loan
Loan amount, interest rate and term.
- 2
Add an extra payment (optional)
An amount you could add to each monthly payment.
- 3
Read the schedule
See interest and principal by year or month, and your savings from extra payments.
Frequently asked questions
Why do I pay so much interest at first?
Interest is a percentage of what you still owe, which is highest at the start. As the balance falls, more of the same payment goes to principal.
How much do extra payments save?
On a 250,000 loan at 6% over 30 years, an extra 200 a month saves about 86,000 in interest and pays the loan off almost 8 years early.
Should I pay extra or invest?
Paying extra gives a guaranteed return equal to your loan rate. If your loan rate is higher than what you'd reliably earn investing, paying it down usually wins.
Is anything sent to a server?
No. Everything is calculated in your browser, and nothing you type is stored or sent anywhere.