Mortgage Amortization Calculator

Use our Mortgage Amortization Calculator to see how each year’s mortgage payments are split between principal and interest, and how fast the balance comes down.

The monthly payment stays the same for the whole loan, but early on most of it is interest, because interest is charged on the whole remaining balance. As the balance falls, more of each payment goes to principal — on a $300,000 loan at 6.5% for 30 years, principal overtakes interest only in year 20.

Enter the loan amount, interest rate and term to get your monthly payment, total interest and a year-by-year amortization schedule, which you can switch to month by month.

Add an optional extra monthly payment to see how much sooner the loan is paid off and how much interest you save. Every extra dollar goes straight to the balance, so interest stops building on it right away.