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Amortization Calculator
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.
Educational calculators — always consult a licensed professional before making financial decisions.
Home price minus your down payment.
Found on your mortgage note or closing documents.
Choose the original term of your mortgage.
Standard US mortgage term. Lowest monthly payment but highest total interest cost.
Enter 0 if none. Even $100/mo extra saves thousands in interest.
Monthly Payment
$2,076
Base payment — principal + interest
Loan Summary
Principal vs. Interest Over Time
Year-by-Year Summary
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $3,410 | $21,496 | $316,590 |
| 2 | $3,648 | $21,258 | $312,942 |
| 3 | $3,902 | $21,004 | $309,040 |
| 4 | $4,174 | $20,733 | $304,866 |
| 5 | $4,464 | $20,442 | $300,402 |
| 6 | $4,775 | $20,131 | $295,627 |
| 7 | $5,107 | $19,799 | $290,520 |
| 8 | $5,463 | $19,443 | $285,057 |
| 9 | $5,843 | $19,063 | $279,213 |
| 10 | $6,250 | $18,656 | $272,963 |
| 11 | $6,685 | $18,221 | $266,278 |
| 12 | $7,151 | $17,755 | $259,127 |
| 13 | $7,649 | $17,257 | $251,478 |
| 14 | $8,181 | $16,725 | $243,296 |
| 15 | $8,751 | $16,155 | $234,545 |
| 16 | $9,360 | $15,546 | $225,185 |
| 17 | $10,012 | $14,894 | $215,173 |
| 18 | $10,709 | $14,197 | $204,463 |
| 19 | $11,455 | $13,451 | $193,008 |
| 20 | $12,253 | $12,654 | $180,756 |
| 21 | $13,106 | $11,800 | $167,650 |
| 22 | $14,018 | $10,888 | $153,632 |
| 23 | $14,994 | $9,912 | $138,638 |
| 24 | $16,038 | $8,868 | $122,600 |
| 25 | $17,155 | $7,751 | $105,445 |
| 26 | $18,349 | $6,557 | $87,095 |
| 27 | $19,627 | $5,279 | $67,468 |
| 28 | $20,994 | $3,912 | $46,474 |
| 29 | $22,455 | $2,451 | $24,019 |
| 30 | $24,019 | $887 | $0 |
Estimates for educational purposes only. Actual payoff may vary. Consult a licensed mortgage professional.
Your Saved Scenarios
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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 |
State guides
How this varies by state
Property taxes, insurance costs, first-time buyer programs, and closing costs differ significantly across states. See local data for your state.
California
Texas
Florida
New York
Illinois
Pennsylvania
Ohio
Georgia
North Carolina
Michigan
New Jersey
Virginia
Washington
Arizona
Colorado
Tennessee
About this calculator
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.
Want to try different numbers?
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15 vs 30-Year Mortgage
Both loans side by side at this week's Freddie Mac averages (6.58% and 5.96%) for three loan sizes — payment, total interest, and principal paid by years 5 and 10, with the amortization math shown — plus the invest-the-difference argument treated fairly.
Is Refinancing Worth It?
Closing costs divided by monthly saving is the whole decision. The formula worked with July 2026 rates, the rate drop you need to break even in 2/3/5 years, the term reset that raises your total interest at a lower rate, and what forecasters actually expect.
Amortization Schedule Calculator is built and maintained by the RealCostIQ editorial team. Cost ranges and rates are checked against published industry data and contractor quotes, and revised when the underlying figures move. Read our data methodology or more about who builds this. Every calculation runs in your browser — no account, and none of your inputs are stored.
Cost ranges and rates here are checked against contractor quotes and published industry data. If a number still looks off, email Support@RealCostIQ.com and we'll review and fix it.