Amortization Calculator

Create a detailed amortization schedule showing how each payment breaks down into principal and interest over the life of your loan.

Loan Details

Loan Amount $250,000
$
$1K $2M
Annual Interest Rate 6.5%
%
0.5% 15%
Loan Term 30 years
15 Years
20 Years
30 Years
Start Date Current Month
Extra Monthly Payment (Optional) $0
$
Add extra payment to see how it affects your amortization schedule

Amortization Results

Monthly Payment
$–
principal & interest
Total Payments
$–
over loan term
Total Interest
$–
interest paid
Payoff Date
final payment
Loan Summary
Complete overview of your loan
Total Payment
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Principal + Interest
Total Interest
$–
Cost of borrowing
Principal Paid
$–
Original loan amount
Monthly Payment
$–
Principal & interest
Amortization Schedule
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Payment #DatePaymentPrincipalInterestBalance

Amortization Calculator: See Your Loan Payment Schedule

Our comprehensive amortization calculator creates a detailed payment schedule showing exactly how your loan payments break down into principal and interest over time. Understand how each payment reduces your balance and builds equity in your home or asset.

Using an amortization calculator is essential for understanding the true cost of borrowing. It shows you exactly how much interest you’ll pay over the life of your loan and helps you plan for early payoff strategies. The schedule reveals how payments shift from mostly interest to mostly principal over time.

How Amortization Works

Amortization is the process of paying off a loan through regular payments over time. Each payment covers both interest and principal, but the proportion changes over the loan term:

  • Early Payments: Mostly interest, small principal reduction
  • Middle Payments: Balanced between interest and principal
  • Late Payments: Mostly principal, small interest component

Key Features of Our Amortization Calculator

Our calculator provides detailed insights including:

  • Complete payment-by-payment schedule
  • Visual charts showing principal vs interest over time
  • Impact of extra payments on loan term and total interest
  • Year-by-year breakdown of payments
  • Export options for saving or sharing your schedule
  • Comparison of different loan terms and interest rates

Benefits of Understanding Amortization

Understanding your amortization schedule helps you make better financial decisions. You can see exactly how extra payments shorten your loan term, identify the best time to refinance, and understand the true cost of different loan options. This knowledge empowers you to save thousands in interest payments.

Frequently Asked Questions About Amortization

1. What is an amortization schedule?

An amortization schedule is a table that shows the breakdown of each loan payment into principal and interest components, along with the remaining balance after each payment. It provides a complete timeline of your loan from start to finish, showing exactly how much interest you’ll pay and when your loan will be paid off.

2. Why are early payments mostly interest?

Early payments are mostly interest because interest is calculated on the outstanding principal balance. At the beginning of the loan, the principal balance is highest, so the interest portion is largest. As you make payments and reduce the principal, the interest portion decreases while the principal portion increases. This is called “front-loaded interest” and is a standard feature of amortizing loans.

3. How do extra payments affect amortization?

Extra payments directly reduce the principal balance, which has a compounding effect on interest savings. Each extra payment reduces future interest calculations and can significantly shorten your loan term. For example, adding $100 to a monthly mortgage payment on a 30-year loan could shorten the term by several years and save tens of thousands in interest.

4. When is the best time to make extra payments?

The best time to make extra payments is as early as possible in the loan term. Since interest is front-loaded, early extra payments have the greatest impact on reducing total interest paid. Even small extra payments at the beginning of a loan can save significant amounts over time compared to making the same payments later in the loan term.

5. How does amortization differ for different loan types?

Amortization works similarly for most installment loans (mortgages, auto loans, personal loans), but there are differences: Fixed-rate loans have consistent payments throughout; adjustable-rate loans may have payment changes; interest-only loans delay principal payments; and balloon loans have a large final payment. Our calculator handles standard fixed-rate amortization, which is the most common type.

`); printWindow.document.close(); printWindow.focus(); printBtn.innerHTML = ' Printed!'; setTimeout(() => { printBtn.innerHTML = ' Print Schedule'; }, 1500); setTimeout(() => { printWindow.print(); }, 500); } // Initialize FAQ functionality function initFAQs() { const faqQuestions = document.querySelectorAll('.amortcalc-faq-question'); faqQuestions.forEach(question => { question.addEventListener('click', function() { const answer = this.nextElementSibling; const isActive = this.classList.contains('active'); // Close all FAQs document.querySelectorAll('.amortcalc-faq-question').forEach(q => { q.classList.remove('active'); q.nextElementSibling.classList.remove('active'); }); // Open clicked FAQ if it wasn't active if (!isActive) { this.classList.add('active'); answer.classList.add('active'); } }); }); // Open first FAQ if (faqQuestions.length > 0) { faqQuestions[0].classList.add('active'); faqQuestions[0].nextElementSibling.classList.add('active'); } } // Set up event listeners function setupEventListeners() { // Input change listeners loanAmountInput.addEventListener('input', function() { this.value = this.value.replace(/[^0-9.]/g, ''); loanAmountSlider.value = parseInputValue(this.value); updateInputDisplays(); calculateAmortization(); }); loanAmountSlider.addEventListener('input', function() { loanAmountInput.value = this.value; updateInputDisplays(); calculateAmortization(); }); interestRateInput.addEventListener('input', function() { this.value = this.value.replace(/[^0-9.]/g, ''); if (parseFloat(this.value) > 15) this.value = '15'; if (parseFloat(this.value) < 0.5) this.value = '0.5'; interestRateSlider.value = this.value; updateInputDisplays(); calculateAmortization(); }); interestRateSlider.addEventListener('input', function() { interestRateInput.value = this.value; updateInputDisplays(); calculateAmortization(); }); extraPaymentInput.addEventListener('input', function() { this.value = this.value.replace(/[^0-9.]/g, ''); updateInputDisplays(); calculateAmortization(); }); startMonth.addEventListener('change', function() { updateInputDisplays(); calculateAmortization(); }); startYear.addEventListener('change', function() { updateInputDisplays(); calculateAmortization(); }); // Loan term button listeners loanTermButtons.forEach(btn => { btn.addEventListener('click', function() { loanTermButtons.forEach(b => b.classList.remove('active')); this.classList.add('active'); currentLoanTerm = parseInt(this.getAttribute('data-term')); updateInputDisplays(); calculateAmortization(); }); }); // Table navigation listeners prevBtn.addEventListener('click', function() { if (currentPage > 1) { currentPage--; updateAmortizationTable(); } }); nextBtn.addEventListener('click', function() { if (currentPage < totalPages) { currentPage++; updateAmortizationTable(); } }); yearSelector.addEventListener('change', function() { currentPage = 1; updateAmortizationTable(); }); // Button listeners calculateBtn.addEventListener('click', calculateAmortization); resetBtn.addEventListener('click', resetCalculator); exportBtn.addEventListener('click', exportToCSV); printBtn.addEventListener('click', printSchedule); // Initialize populateYearDropdowns(); updateInputDisplays(); calculateAmortization(); initFAQs(); } // Start everything if (typeof Chart !== 'undefined') { setupEventListeners(); } else { // Wait for Chart.js to load const checkChart = setInterval(() => { if (typeof Chart !== 'undefined') { clearInterval(checkChart); setupEventListeners(); } }, 100); } } })();
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