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Amortization schedule calculator
Every payment, line by line: interest, principal, extra and remaining balance. Works for mortgages and any fixed-rate loan, with or without extra payments.
$304,145
total interest on the current schedule
- Monthly payment
- $1,539.29
- Debt-free
- 30 yrs
- Total interest
- $304,145
Amortization schedule
| Year | Interest | Principal | Extra | Balance |
|---|---|---|---|---|
| 1 | $15,542 | $2,929 | $0 | $247,071 |
| 2 | $15,354 | $3,118 | $0 | $243,953 |
| 3 | $15,153 | $3,318 | $0 | $240,634 |
| 4 | $14,940 | $3,532 | $0 | $237,102 |
| 5 | $14,712 | $3,759 | $0 | $233,343 |
| 6 | $14,471 | $4,001 | $0 | $229,342 |
| 7 | $14,213 | $4,258 | $0 | $225,084 |
| 8 | $13,939 | $4,532 | $0 | $220,552 |
| 9 | $13,648 | $4,824 | $0 | $215,728 |
| 10 | $13,338 | $5,134 | $0 | $210,594 |
| 11 | $13,007 | $5,464 | $0 | $205,130 |
| 12 | $12,656 | $5,816 | $0 | $199,315 |
| 13 | $12,282 | $6,190 | $0 | $193,125 |
| 14 | $11,884 | $6,588 | $0 | $186,537 |
| 15 | $11,460 | $7,012 | $0 | $179,526 |
| 16 | $11,009 | $7,463 | $0 | $172,063 |
| 17 | $10,529 | $7,943 | $0 | $164,120 |
| 18 | $10,018 | $8,453 | $0 | $155,667 |
| 19 | $9,474 | $8,997 | $0 | $146,670 |
| 20 | $8,896 | $9,576 | $0 | $137,094 |
| 21 | $8,280 | $10,192 | $0 | $126,902 |
| 22 | $7,624 | $10,847 | $0 | $116,055 |
| 23 | $6,926 | $11,545 | $0 | $104,510 |
| 24 | $6,184 | $12,288 | $0 | $92,222 |
| 25 | $5,393 | $13,078 | $0 | $79,144 |
| 26 | $4,552 | $13,919 | $0 | $65,225 |
| 27 | $3,657 | $14,815 | $0 | $50,410 |
| 28 | $2,704 | $15,767 | $0 | $34,643 |
| 29 | $1,690 | $16,782 | $0 | $17,861 |
| 30 | $610 | $17,861 | $0 | $0 |
Ask the trail guide about this plan
Get a plain-English read of the numbers above: what's driving the savings, what to check with your lender, and trade-offs to weigh. Written by AI from your inputs, so double-check anything important.
Reading the schedule
Switch between the yearly view (a quick summary of how much interest you pay each year) and the monthly view (the exact figures your lender uses). The "Extra" column shows principal paid beyond the scheduled payment; the final row is smaller than the rest because it only needs to clear what's left.
The formula
The scheduled payment is P × r ÷ (1 − (1 + r)−n). For month k: interestk = balancek−1 × r, principalk = payment − interestk, balancek = balancek−1 − principalk − extrak. Lenders round each line to the cent, so your statement may differ by a few cents.
Want to see how the interest share shrinks over time? The mortgage payoff calculator has a drag-through explainer of exactly that.
Questions people ask
What is an amortization schedule?
A table listing every loan payment with how much goes to interest, how much to principal, and the balance left afterward. Early payments are mostly interest; later ones are mostly principal.
How do I make an amortization schedule with extra payments?
Enter the loan balance, rate and term above, then add an extra monthly, yearly or one-time amount. The schedule recalculates every row, so you can see the extra principal and the earlier final payment. Download it as a CSV to open in Excel or Google Sheets.
How is monthly interest calculated on an amortizing loan?
Multiply the current balance by the annual rate divided by 12. On $200,000 at 6%, the first month's interest is $200,000 × 0.005 = $1,000. Whatever is left of the payment reduces principal.
Why is so much of my early payment going to interest?
Interest is charged on the balance, and the balance is highest at the start. As principal falls, the interest portion shrinks and more of the fixed payment goes to principal.
Does a mortgage amortization schedule include escrow?
No. Taxes and insurance collected in escrow are passed through to the county and insurer; they don't affect the loan balance, so they are left out of the schedule.