Amortization Calculator
Build an amortization schedule for a fixed-rate loan and see how each payment splits between interest and principal. Add an extra monthly payment to estimate how much sooner the balance reaches zero.
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $1,896.20 | $271.20 | $1,625.00 | $299,728.80 |
| 2 | $1,896.20 | $272.67 | $1,623.53 | $299,456.12 |
| 3 | $1,896.20 | $274.15 | $1,622.05 | $299,181.97 |
| 4 | $1,896.20 | $275.64 | $1,620.57 | $298,906.34 |
| 5 | $1,896.20 | $277.13 | $1,619.08 | $298,629.21 |
| 6 | $1,896.20 | $278.63 | $1,617.57 | $298,350.58 |
| 7 | $1,896.20 | $280.14 | $1,616.07 | $298,070.44 |
| 8 | $1,896.20 | $281.66 | $1,614.55 | $297,788.79 |
| 9 | $1,896.20 | $283.18 | $1,613.02 | $297,505.60 |
| 10 | $1,896.20 | $284.72 | $1,611.49 | $297,220.89 |
| 11 | $1,896.20 | $286.26 | $1,609.95 | $296,934.63 |
| 12 | $1,896.20 | $287.81 | $1,608.40 | $296,646.82 |
The table shows the first 12 payments. The summary uses the full amortization schedule and includes the extra monthly payment if entered.
How this tool works
Interest each month = prior balance × monthly rate. Principal paid = payment − interest. New balance = prior balance − principal paid.
Example
On a long mortgage, early payments usually contain more interest because the outstanding balance is still high; extra principal reduces later interest and can shorten the term.
Common questions
Does the schedule include an extra monthly payment?
Yes. Enter an extra monthly amount and the full schedule is recalculated until the loan is paid off.
Are taxes and insurance included?
No. An amortization schedule tracks principal and interest on the debt itself.