Loan Amortization Calculator
Generate a full amortization schedule — see principal, interest, and remaining balance for every payment over the life of your loan.
Loan Details
Summary
Amortization Schedule
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $1,995.91 | $245.91 | $1,750.00 | $299,754 |
| 2 | $1,995.91 | $247.34 | $1,748.57 | $299,507 |
| 3 | $1,995.91 | $248.78 | $1,747.12 | $299,258 |
| 4 | $1,995.91 | $250.24 | $1,745.67 | $299,008 |
| 5 | $1,995.91 | $251.70 | $1,744.21 | $298,756 |
| 6 | $1,995.91 | $253.16 | $1,742.74 | $298,503 |
| 7 | $1,995.91 | $254.64 | $1,741.27 | $298,248 |
| 8 | $1,995.91 | $256.13 | $1,739.78 | $297,992 |
| 9 | $1,995.91 | $257.62 | $1,738.29 | $297,734 |
| 10 | $1,995.91 | $259.12 | $1,736.78 | $297,475 |
| 11 | $1,995.91 | $260.63 | $1,735.27 | $297,215 |
| 12 | $1,995.91 | $262.15 | $1,733.75 | $296,953 |
| 13 | $1,995.91 | $263.68 | $1,732.22 | $296,689 |
| 14 | $1,995.91 | $265.22 | $1,730.69 | $296,424 |
| 15 | $1,995.91 | $266.77 | $1,729.14 | $296,157 |
| 16 | $1,995.91 | $268.33 | $1,727.58 | $295,889 |
| 17 | $1,995.91 | $269.89 | $1,726.02 | $295,619 |
| 18 | $1,995.91 | $271.47 | $1,724.44 | $295,347 |
| 19 | $1,995.91 | $273.05 | $1,722.86 | $295,074 |
| 20 | $1,995.91 | $274.64 | $1,721.27 | $294,800 |
| 21 | $1,995.91 | $276.24 | $1,719.66 | $294,523 |
| 22 | $1,995.91 | $277.86 | $1,718.05 | $294,245 |
| 23 | $1,995.91 | $279.48 | $1,716.43 | $293,966 |
| 24 | $1,995.91 | $281.11 | $1,714.80 | $293,685 |
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Send Me the Deal →Frequently Asked Questions
What is loan amortization?
Amortization is the process of paying off a loan through regular scheduled payments over time. Each payment covers the interest accrued since the last payment, with the remainder reducing the principal balance. Early in the loan, most of each payment goes to interest; later, more goes to principal.
Why do I pay so much interest at the beginning of a mortgage?
Because interest is calculated on the outstanding balance, and the balance is highest at the start of the loan. As you pay down principal, the interest portion of each payment decreases and the principal portion increases — this is the amortization curve.
How does making extra principal payments affect amortization?
Extra principal payments reduce your outstanding balance, which reduces the interest charged on future payments. This can significantly shorten your loan term and reduce total interest paid. Even small additional monthly payments early in the loan can save tens of thousands in interest over the life of a 30-year mortgage.
What is the difference between a 15-year and 30-year mortgage?
A 15-year mortgage has a higher monthly payment but dramatically lower total interest paid — typically 50–60% less than a 30-year loan. A 30-year mortgage has a lower monthly payment, providing more cash flow flexibility, but you pay significantly more in interest over the life of the loan.
Educational disclaimer: All calculators on this page are provided for informational and educational purposes only. Results are estimates based on the inputs you provide and standard financial formulas. They do not constitute a loan commitment, pre-approval, or financial advice. Actual loan terms, rates, fees, and eligibility depend on your specific situation, lender guidelines, and market conditions at the time of application. Consult a licensed mortgage professional before making any financial decisions.