Amortization Calculator
Generate a complete loan amortization schedule showing principal vs interest breakdown.
See how it reshapes the schedule
Loan Summary
Monthly Payment
$1,580.17
Principal & interest
Total Interest
$318,861
128% of the loan
Payoff Date
Apr 2056
30 years
Your payment tips toward principal in Sep 2045 (month 233) — before that, more of each payment goes to interest than to paying down the balance.
Principal vs. Interest Paid Over Time
Amortization Schedule
| Year | Principal Paid | Interest Paid | Total Paid | Ending Balance |
|---|---|---|---|---|
| 1 | $2,794 | $16,168 | $18,962 | $247,206 |
| 2 | $2,981 | $15,981 | $18,962 | $244,224 |
| 3 | $3,181 | $15,781 | $18,962 | $241,043 |
| 4 | $3,394 | $15,568 | $18,962 | $237,649 |
| 5 | $3,621 | $15,341 | $18,962 | $234,027 |
| 6 | $3,864 | $15,098 | $18,962 | $230,163 |
| 7 | $4,123 | $14,839 | $18,962 | $226,041 |
| 8 | $4,399 | $14,563 | $18,962 | $221,642 |
| 9 | $4,694 | $14,269 | $18,962 | $216,948 |
| 10 | $5,008 | $13,954 | $18,962 | $211,940 |
| 11 | $5,343 | $13,619 | $18,962 | $206,597 |
| 12 | $5,701 | $13,261 | $18,962 | $200,896 |
| 13 | $6,083 | $12,879 | $18,962 | $194,813 |
| 14 | $6,490 | $12,472 | $18,962 | $188,323 |
| 15 | $6,925 | $12,037 | $18,962 | $181,398 |
| 16 | $7,389 | $11,573 | $18,962 | $174,009 |
| 17 | $7,884 | $11,078 | $18,962 | $166,126 |
| 18 | $8,412 | $10,551 | $18,962 | $157,714 |
| 19 | $8,975 | $9,987 | $18,962 | $148,739 |
| 20 | $9,576 | $9,386 | $18,962 | $139,163 |
| 21 | $10,217 | $8,745 | $18,962 | $128,946 |
| 22 | $10,902 | $8,061 | $18,962 | $118,044 |
| 23 | $11,632 | $7,330 | $18,962 | $106,413 |
| 24 | $12,411 | $6,551 | $18,962 | $94,002 |
| 25 | $13,242 | $5,720 | $18,962 | $80,760 |
| 26 | $14,129 | $4,833 | $18,962 | $66,632 |
| 27 | $15,075 | $3,887 | $18,962 | $51,557 |
| 28 | $16,084 | $2,878 | $18,962 | $35,473 |
| 29 | $17,162 | $1,800 | $18,962 | $18,311 |
| 30 | $18,311 | $651 | $18,962 | $0 |
How to use this calculator
- Enter the loan amount, interest rate and term — the basics of the loan.
- (Optional) Add an extra monthly payment to see how it reshapes the schedule.
- Set the first payment date so the schedule shows real calendar months.
- Read the schedule — switch between the Yearly view (one row per year, easy to scan) and the Monthly view (every payment in full).
The summary shows the monthly payment, total interest and payoff date; the chart shows principal and interest accumulating over time.
How it works
An amortized loan has a fixed payment that never changes, yet the makeup of that payment shifts every month. Each payment covers:
- Interest — the remaining balance multiplied by the periodic interest rate.
- Principal — whatever is left of the payment, which reduces the balance.
Because the balance is highest at the start, early payments are dominated by interest. As principal chips the balance down, the interest charge falls and more of the same fixed payment goes to principal. The crossover point — when the principal portion overtakes the interest portion — marks the moment the loan genuinely starts winding down faster.
The schedule is just this calculation repeated for every payment until the balance reaches zero. Summed up, total interest equals every payment combined minus the original amount borrowed.
Frequently Asked Questions
What is loan amortization? ▾
Amortization is the process of paying off a loan with equal, regular payments over a set term. Each payment is split between interest (charged on the remaining balance) and principal (which reduces the balance). The schedule lays this split out payment by payment, showing exactly how the loan winds down to zero.
Why is most of my early payment interest? ▾
Interest each period is charged on the outstanding balance, which is at its largest right after the loan starts. So early on, the bulk of your fixed payment is consumed by interest and only a small part reduces the principal. As the balance shrinks, the interest portion falls and the principal portion grows.
What is the principal/interest crossover point? ▾
It is the payment at which the principal portion first becomes larger than the interest portion. Before it, more of every payment services interest; after it, more goes to actually paying down the loan. On a long mortgage this can be many years in — the calculator pinpoints the exact month.
How do extra payments change the schedule? ▾
An extra payment is applied entirely to principal, so it cuts the balance faster than scheduled. That reduces all the interest charged from then on and shortens the term. Even small, regular extra payments noticeably reshape the schedule and lower the total interest.
What is the difference between the yearly and monthly views? ▾
The monthly view shows every individual payment — useful for detail. The yearly view collapses each 12 months into one row showing total principal paid, total interest paid, and the year-end balance — much easier to scan for the overall shape of the loan. Both describe the same schedule.