📋 Loan Calculator

Amortization Calculator

Generate a complete amortization schedule for any loan. See exactly how much of each payment goes to interest vs. principal, month by month or year by year.

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Enter loan parameters for amortization schedule

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Monthly Payment
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Total Interest
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Principal
Total Interest
Total Cost
Payoff Date

Amortization Schedule

PeriodPaymentPrincipalInterestBalance
Click "Generate Schedule"

What is an Amortization Schedule?

An amortization schedule is a complete table of loan payments, showing how much of each payment goes toward the principal and how much toward interest. In the early years of a loan, most of each payment covers interest. As the loan matures, more goes toward the principal. This calculator lets you add extra payments to see how much faster you can pay off the loan and how much interest you'll save.

FAQ

What is a fully amortizing loan?
A fully amortizing loan is one where the monthly payments are designed to pay off the entire principal and interest by the end of the term. Most mortgages and auto loans are fully amortizing.
How do extra payments work?
Extra payments go entirely toward reducing your principal balance. This reduces the interest charged in subsequent months, creating a snowball effect that accelerates your payoff date.
What is negative amortization?
Negative amortization occurs when your payment is less than the interest owed. Your balance grows instead of shrinking. This can happen with certain adjustable-rate mortgages (ARMs).