Mortgage Amortization Schedule Calculator
Generate a detailed amortization schedule for your mortgage. See exactly how much of each payment goes towards principal and interest, and track your remaining balance over time.
Mortgage Details
Enter your mortgage information to generate the amortization schedule
Payment Summary
Overview of your mortgage payments
Amortization Schedule
Detailed month-by-month payment breakdown
| Payment # | Date | Payment | Principal | Interest | Balance |
|---|
Understanding Amortization
What is Amortization?
Amortization is the process of gradually paying off a loan through regular payments. Each payment covers both interest and principal, with the balance shifting over time.
Principal vs Interest
Early payments are mostly interest with little principal reduction. As time progresses, more of each payment goes toward principal, accelerating the balance reduction.
Payment Schedule
An amortization schedule shows exactly how much of each payment goes to principal and interest, plus your remaining balance after each payment.
Accelerated Payoff
Understanding your amortization schedule helps you see the impact of extra payments and plan strategies to pay off your mortgage faster.
How to Read Your Amortization Schedule
Understanding Each Column
Sample Payment Breakdown
Early payments are mostly interest (shown in red), while principal (shown in blue) increases over time.
Benefits of Understanding Your Amortization
Strategic Planning
See exactly when you'll build significant equity and plan major financial decisions around your mortgage payoff timeline.
Overpayment Impact
Understand how extra payments affect your schedule and calculate the exact savings from different overpayment strategies.
Refinancing Decisions
Determine the best time to refinance by seeing how much principal you've paid and how much interest remains.
Budget Planning
Plan for the future by seeing exactly when your mortgage will be paid off and when you'll have extra cash flow.
Frequently Asked Questions
Why do early payments have more interest than principal?
Interest is calculated on the outstanding balance. Since the balance is highest at the beginning, interest charges are highest. As you pay down the principal, the balance decreases, so interest charges decrease and more of your payment goes to principal.
How can I use this schedule to save money?
Use the schedule to see the impact of extra payments. Even small additional principal payments early in the loan can save thousands in interest and reduce your term significantly. The schedule shows exactly how much you'll save.
What's the difference between monthly and yearly views?
Monthly view shows every payment in detail, perfect for tracking progress. Yearly view summarizes annual totals, making it easier to see long-term trends and plan annual financial strategies.
How accurate are these calculations?
Our calculations use standard amortization formulas and are highly accurate for planning purposes. However, actual payments may vary slightly due to rounding, payment timing, or lender-specific calculation methods.
Can I print or save my amortization schedule?
Yes! Use your browser's print function to save the schedule as a PDF or print it. The table is optimized for printing and will format nicely on paper for your records.