What is an amortization schedule?

An amortization schedule shows every payment over the life of a loan, broken into principal and interest portions. Early payments are mostly interest; later payments are mostly principal. For a 30-year mortgage, about 80% of your first payment goes to interest. After 15 years, you've only paid ~30% of the principal.

How does extra payment affect amortization?

Extra principal payments can dramatically reduce total interest. On a $300K 30-year mortgage at 7%, paying $200 extra/month: saves ~$80,000 in interest and pays off 7 years early. Extra payments go entirely to principal, reducing the base on which future interest is calculated.

What is an amortization schedule?

An amortization schedule shows every payment over the life of a loan, broken into principal and interest portions. Early payments are mostly interest; later payments are mostly principal. For a 30-year mortgage, about 80% of your first payment goes to interest. After 15 years, you've only paid ~30% of the principal.

How does extra payment affect amortization?

Extra principal payments can dramatically reduce total interest. On a $300K 30-year mortgage at 7%, paying $200 extra/month: saves ~$80,000 in interest and pays off 7 years early. Extra payments go entirely to principal, reducing the base on which future interest is calculated.

Loan Amortization Schedule Calculator

Free amortization schedule calculator. Enter loan amount, rate, and term to see a complete payment-by-payment breakdown of principal, interest, cumulative totals, and remaining balance.

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Loan Amount ($)

Interest Rate (%)

Term (Years)

Extra Monthly Payment ($)

Total Paid

$682,633.47

Total Interest

$382,633.47

Payoff

30y 0m

Year	Payment	Principal	Interest	Balance
1	1,896.20	287.81	1,608.40	296,646.82
2	1,896.20	307.08	1,589.12	293,069.08
3	1,896.20	327.65	1,568.55	289,251.73
4	1,896.20	349.59	1,546.61	285,178.72
5	1,896.20	373.01	1,523.20	280,832.93
6	1,896.20	397.99	1,498.22	276,196.10
7	1,896.20	424.64	1,471.56	271,248.73
8	1,896.20	453.08	1,443.13	265,970.03
9	1,896.20	483.42	1,412.78	260,337.81
10	1,896.20	515.80	1,380.41	254,328.38
11	1,896.20	550.34	1,345.86	247,916.49
12	1,896.20	587.20	1,309.00	241,075.18
13	1,896.20	626.53	1,269.68	233,775.70
14	1,896.20	668.48	1,227.72	225,987.36
15	1,896.20	713.25	1,182.95	217,677.42
16	1,896.20	761.02	1,135.18	208,810.95
17	1,896.20	811.99	1,084.21	199,350.68
18	1,896.20	866.37	1,029.83	189,256.83
19	1,896.20	924.39	971.81	178,486.98
20	1,896.20	986.30	909.90	166,995.85
21	1,896.20	1,052.36	843.85	154,735.14
22	1,896.20	1,122.83	773.37	141,653.30
23	1,896.20	1,198.03	698.17	127,695.36
24	1,896.20	1,278.27	617.94	112,802.62
25	1,896.20	1,363.87	532.33	96,912.49
26	1,896.20	1,455.21	440.99	79,958.16
27	1,896.20	1,552.67	343.53	61,868.38
28	1,896.20	1,656.66	239.55	42,567.08
29	1,896.20	1,767.61	128.60	21,973.15
30	1,896.20	1,885.99	10.22	0.00