Amortization Calculator — Full Mortgage Payment Schedule
Generate a complete payment-by-payment schedule for your mortgage. See exactly how much goes to principal vs. interest each month — and how extra payments accelerate your payoff.
What you'll need
- Loan amount (home price minus down payment)
- Annual interest rate
- Loan term (15, 20, or 30 years)
- Extra monthly payment amount (optional)
What you'll get
Full payment schedule
Every payment broken down
Year-by-year summary
Principal, interest & balance
Extra payment impact
Interest saved & time saved
Total interest paid
True cost of your loan
How It Works
Enter loan details
Input loan amount, interest rate, and term to generate your schedule.
Review the breakdown
See exactly how much of each payment goes to principal vs. interest.
Add extra payments
Model the impact of extra monthly or lump-sum payments on your payoff date.
Interest Paid Over Time — $300,000 at 7%
| Year | Principal Paid | Interest Paid | Balance Remaining |
|---|---|---|---|
| Year 5 | $17,500 | $101,800 | $282,500 |
| Year 10 | $38,200 | $196,800 | $261,800 |
| Year 15 | $63,200 | $284,500 | $236,800 |
| Year 20 | $95,000 | $361,700 | $205,000 |
| Year 30 | $300,000 | $418,500 | $0 |
Frequently asked questions
What is an amortization schedule?
An amortization schedule shows every monthly payment of your mortgage broken down into principal (reducing your balance) and interest (cost of borrowing). Early payments are mostly interest; later payments are mostly principal. The schedule helps you see exactly how your loan is paid off over time.
How do extra payments affect my mortgage?
Extra payments go directly to principal, reducing your balance faster. This saves significant interest and shortens your loan term. Even $100–$200 extra per month on a 30-year mortgage can save $20,000–$40,000 in interest and shave years off your payoff date.
Why do early mortgage payments have so much interest?
Interest is calculated on your outstanding balance each month. When your balance is large (early in the loan), most of your payment goes to interest. As you pay down principal, the interest portion shrinks and more goes to principal — this is amortization.
How does refinancing affect my amortization schedule?
Refinancing resets your amortization schedule. Even if you refinance at a lower rate, restarting a 30-year clock means your early payments are again mostly interest. If you have 22 years left and refinance into a new 30-year loan, you've added 8 years — use your amortization schedule to compare total interest paid under each option.
Can I use an amortization schedule to plan when to refinance?
Yes — the schedule shows your remaining balance at any point. If you're in year 10 of a 30-year mortgage, you still owe roughly 80% of the original loan. Knowing this balance helps you calculate break-even on refinancing costs and decide if the new rate saves enough to justify resetting the schedule.
Ready to see your full schedule?
Build My Amortization Schedule →