Amortization Calculator
Generate a complete mortgage amortization schedule. See exactly how much goes to principal vs. interest every month or year over the life of your loan.
| Period | Payment | Principal | Interest | Balance |
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What Is an Amortization Schedule?
An amortization schedule is a complete table of mortgage payments that shows how each payment is split between principal (reducing your loan balance) and interest (the lender’s fee for the loan).
In the early years of your mortgage, the vast majority of each payment goes toward interest. As your balance decreases, more of each payment applies to principal. This shift is called amortization.
How to Read the Table
- Payment — your fixed monthly payment (stays the same for a fixed-rate loan)
- Principal — the amount reducing your balance this period
- Interest — the cost of borrowing this period
- Balance — what you still owe after this payment
Use the Yearly view for a quick big-picture summary, or switch to Monthly to see every single payment.
Why Does So Much Go to Interest Early On?
Your interest is calculated on your remaining balance. When you’ve just taken out a $320,000 loan at 7%, your first month’s interest alone is about $1,867. With a monthly payment of ~$2,129, only $262 goes to principal.
By month 300 (year 25), that same payment is split ~$1,580 principal / $549 interest — because your balance is now much lower.
Tips for Paying Off Your Mortgage Faster
- Make extra principal payments — even $100/month extra can cut years off your loan
- Bi-weekly payments — paying half your mortgage every two weeks results in one extra full payment per year
- Refinance to a shorter term — switching from 30 to 15 years cuts total interest dramatically
- Round up your payment — pay $2,200 instead of $2,129 and the extra $71 chips away at principal