Our comprehensive amortization calculator creates detailed payment schedules for any loan type. See exactly how much of each payment goes toward principal vs interest, track your remaining balance, and discover how extra payments can save you thousands in interest and years off your loan term.
Goes directly to principal, saves interest
Amortization Analysis ($250K at 6.5%, 30 years):
First year: ~77% of payments go to interest. By year 15, it's 50/50. Extra payments early have the biggest impact!
Annual breakdown of principal and interest over time
| Year | Principal | Interest | Ending Balance |
|---|---|---|---|
| Year 1 | $2,794 | $16,167 | $247,205 |
| Year 2 | $2,981 | $15,980 | $244,224 |
| Year 3 | $3,181 | $15,780 | $241,043 |
| Year 4 | $3,394 | $15,567 | $237,648 |
| Year 5 | $3,621 | $15,340 | $234,027 |
| Year 6 | $3,864 | $15,098 | $230,163 |
| Year 7 | $4,122 | $14,839 | $226,040 |
| Year 8 | $4,398 | $14,563 | $221,641 |
| Year 9 | $4,693 | $14,268 | $216,948 |
| Year 10 | $5,007 | $13,954 | $211,940 |
| Year 11 | $5,343 | $13,618 | $206,597 |
| Year 12 | $5,701 | $13,260 | $200,896 |
| Year 13 | $6,082 | $12,879 | $194,813 |
| Year 14 | $6,490 | $12,471 | $188,322 |
| Year 15 | $6,924 | $12,037 | $181,397 |
| Year 16 | $7,388 | $11,573 | $174,009 |
| Year 17 | $7,883 | $11,078 | $166,125 |
| Year 18 | $8,411 | $10,550 | $157,714 |
| Year 19 | $8,974 | $9,987 | $148,739 |
| Year 20 | $9,575 | $9,386 | $139,163 |
| Year 21 | $10,217 | $8,744 | $128,945 |
| Year 22 | $10,901 | $8,060 | $118,044 |
| Year 23 | $11,631 | $7,330 | $106,412 |
| Year 24 | $12,410 | $6,551 | $94,002 |
| Year 25 | $13,241 | $5,720 | $80,760 |
| Year 26 | $14,128 | $4,833 | $66,631 |
| Year 27 | $15,074 | $3,887 | $51,557 |
| Year 28 | $16,084 | $2,877 | $35,472 |
| Year 29 | $17,161 | $1,800 | $18,311 |
| Year 30 | $18,310 | $651.09 | $0.06 |
| Year 31 | $0.06 | $0.00 | $0.00 |
auto_awesome AI Tip: Paying extra $200/month could save thousands in interest
Input your loan amount, annual interest rate, and loan term in years.
Enter any additional monthly payment to see how much interest you can save.
See the complete amortization table with principal, interest, and balance for each payment.
Download the full amortization schedule as a CSV file for your records.
Amortization spreads loan payments over time so each payment covers interest charges plus a portion of principal. Early payments are mostly interest; later payments are mostly principal. This formula calculates the fixed monthly payment needed to fully repay the loan.
M = P × [r(1+r)^n] / [(1+r)^n - 1]
Extra payments go directly to principal, reducing total interest significantly
Even small extra payments ($50-100/month) can save thousands over the loan term
Bi-weekly payments (26 half-payments/year) equal 13 monthly payments, paying off faster
The first years of a loan are interest-heavy — extra payments early have the biggest impact
Refinancing to a lower rate can reduce both payment and total interest
Use the amortization schedule to see exactly when you'll reach 20% equity (to remove PMI)
Compare 15-year vs 30-year loans — shorter terms have higher payments but much less total interest
Our free amortization calculator creates detailed payment schedules for any loan. See exactly how each payment is split between principal and interest, track your loan balance over time, and discover how extra payments can save you thousands in interest while paying off your loan years earlier.
Generate a complete mortgage payment schedule showing 30 years of monthly payments. See how your $300,000 mortgage breaks down into principal and interest each month, and watch as more of your payment goes to principal over time. Our mortgage amortization calculator helps you understand your home loan.
See the powerful impact of extra payments on your loan. Our amortization calculator with extra payments shows exactly how much interest you'll save and how many years you'll cut off your loan term. Even small extra payments can save tens of thousands of dollars.
Calculate your auto loan payment schedule with our car loan amortization calculator. Whether you're financing for 3, 5, or 7 years, see exactly how your payments break down and how much total interest you'll pay over the life of your vehicle loan.
Understand exactly where your money goes with each loan payment. Our amortization table shows the precise split between principal (building equity) and interest (cost of borrowing) for every single payment. Use this knowledge to make smarter decisions about extra payments and refinancing.
Data sourced from trusted institutions
All formulas verified against official standards.