Generate a complete month-by-month amortization schedule showing principal, interest, and remaining balance for every payment. See the full breakdown of your mortgage.
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FAQ
What is an amortization schedule?
An amortization schedule is a complete table of every loan payment, showing how much goes to principal vs. interest, and the remaining loan balance after each payment. Early payments are mostly interest; later payments are mostly principal.
Why do I pay so much interest at the start?
Interest is calculated on the outstanding balance. In year 1, nearly all of your loan remains, so almost all of your payment is interest. As you pay down principal, less interest accrues — this is why extra payments early have a huge impact.
How does an extra payment help?
Extra payments directly reduce principal, which reduces future interest. Even $100-200 extra per month can save tens of thousands in interest and shave years off a 30-year mortgage.
What is the difference between principal and interest?
Principal is the loan balance you borrowed. Interest is the fee charged by the lender for lending the money. Only principal payments reduce your loan balance — interest payments are the cost of borrowing.