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Amortization Schedule Calculator

See exactly how every payment breaks down between principal and interest over the life of your loan. Add extra payments to see how much time and money you can save.

How to Use This Calculator

Enter your loan amount, interest rate, and loan term. Optionally add a start date for accurate payment dates. To see the impact of extra payments, enter a monthly or annual extra payment amount. The full amortization table generates instantly.

Understanding Your Results

The schedule shows every payment from start to finish. The principal column shows how much goes toward your loan balance, while the interest column shows borrowing costs. Watch how the principal-to-interest ratio shifts over time. If you added extra payments, compare the original and accelerated payoff dates to see your savings.

Pro Tips

  • ✓Even $50/month extra can save thousands in interest and years on your loan.
  • ✓Bi-weekly payments (26 half-payments per year) effectively make 13 monthly payments instead of 12.
  • ✓If you get a bonus or tax refund, applying it as a lump sum extra payment has a huge impact.
  • ✓Check that your lender applies extra payments to principal, not future payments.

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Frequently Asked Questions

What is an amortization schedule?▼
An amortization schedule is a complete table showing every payment over the life of a loan. Each row shows the payment date, total payment, principal portion, interest portion, and remaining balance. Early payments are mostly interest; later payments are mostly principal.
How do extra payments affect my mortgage?▼
Extra payments go directly toward principal, reducing your balance faster. This means less interest over the life of the loan and an earlier payoff date. Even small extra payments can save thousands and shave years off your mortgage.
Why do I pay so much interest at the beginning of my loan?▼
Interest is calculated on the remaining balance. When your balance is highest (at the start), more of each payment goes to interest. As you pay down the principal, the interest portion shrinks and more goes to principal. This is how amortization works.
How much can I save by making one extra payment per year?▼
On a $300,000 30-year mortgage at 7%, making one extra monthly payment per year saves approximately $85,000 in interest and pays off your loan about 5 years early. The savings depend on your rate and balance.
Can I download my amortization schedule?▼
Yes! Our calculator lets you download your complete amortization schedule as a CSV file, including any extra payment scenarios. You can open it in Excel or Google Sheets for further analysis.