Amortization Schedule Calculator
Calculate your monthly mortgage or loan payment and see a year-by-year breakdown of principal vs. interest over the life of your loan.
Monthly Payment & Schedule
Amortization is the process of spreading a loan into a series of fixed payments over time. Each payment covers both interest and principal.
Monthly Payment = P × [r(1+r)^n] / [(1+r)^n - 1]
Where:
- P = Loan amount (principal)
- r = Monthly interest rate (annual rate / 12)
- n = Total number of payments (years × 12)
In the early years, most of your payment goes to interest. Over time, more goes toward principal. This calculator shows you exactly how that shifts year by year.
Tip: Even small extra payments toward principal can save thousands in interest and shorten your loan term significantly.