Amortization Calculator
View your full payoff schedule — how each year splits between principal, interest and balance.
Loan summary
Yearly amortization schedule
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $3,577 | $20,695 | $316,423 |
| 2 | $3,816 | $20,455 | $312,607 |
| 3 | $4,072 | $20,200 | $308,535 |
| 4 | $4,345 | $19,927 | $304,191 |
| 5 | $4,636 | $19,636 | $299,555 |
| 6 | $4,946 | $19,325 | $294,609 |
| 7 | $5,277 | $18,994 | $289,332 |
| 8 | $5,631 | $18,641 | $283,701 |
| 9 | $6,008 | $18,264 | $277,694 |
| 10 | $6,410 | $17,861 | $271,284 |
| 11 | $6,839 | $17,432 | $264,444 |
| 12 | $7,297 | $16,974 | $257,147 |
| 13 | $7,786 | $16,485 | $249,361 |
| 14 | $8,308 | $15,964 | $241,053 |
| 15 | $8,864 | $15,407 | $232,189 |
| 16 | $9,458 | $14,814 | $222,732 |
| 17 | $10,091 | $14,180 | $212,641 |
| 18 | $10,767 | $13,505 | $201,874 |
| 19 | $11,488 | $12,784 | $190,386 |
| 20 | $12,257 | $12,014 | $178,129 |
| 21 | $13,078 | $11,193 | $165,051 |
| 22 | $13,954 | $10,317 | $151,097 |
| 23 | $14,888 | $9,383 | $136,208 |
| 24 | $15,886 | $8,386 | $120,323 |
| 25 | $16,949 | $7,322 | $103,373 |
| 26 | $18,085 | $6,187 | $85,289 |
| 27 | $19,296 | $4,976 | $65,993 |
| 28 | $20,588 | $3,683 | $45,405 |
| 29 | $21,967 | $2,305 | $23,438 |
| 30 | $23,438 | $833 | $0 |
Ready to turn these numbers into a real loan?
Get my personalized quoteAbout this calculator
An amortization calculator reveals exactly how your mortgage is paid down over time. Enter your loan amount, interest rate and term, and we generate a year-by-year schedule showing how much of each payment goes to principal versus interest, plus your remaining balance at the end of every year.
Early in a mortgage, the majority of each payment goes toward interest while the balance falls slowly. As the years pass, the balance shrinks and more of every payment attacks principal. Watching this shift in the schedule helps you understand why making extra principal payments early has such an outsized impact on total interest.
Use the summary to see your total interest and total amount paid over the life of the loan, and scroll the yearly table to track your equity growth. When you are ready for real numbers, get a personalized quote from our lending partners.
Frequently asked questions
- What is amortization?
- Amortization is the process of paying off a loan with regular equal payments over time. Each payment covers the interest due plus a portion of principal, so the balance gradually falls to zero.
- Why is so much of my early payment interest?
- Interest is charged on the outstanding balance, which is highest at the start. As you pay down principal, the interest portion shrinks and the principal portion grows each month.
- How can I pay less total interest?
- Making extra principal payments, choosing a shorter term, or securing a lower rate all reduce total interest. Even small extra payments early in the loan have a large compounding effect.
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