See a complete payment-by-payment breakdown of any loan.
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An amortization schedule is a complete table showing every payment on a loan from the first month to the last. Each row breaks down how much of your monthly payment goes toward interest and how much goes toward reducing the principal balance. In the early years of a mortgage, the majority of each payment is interest. By the final years, nearly all of it is principal. Understanding this schedule helps you see the true cost of a loan and evaluate whether extra payments are worthwhile.
Enter your loan amount, annual interest rate, and loan term in years. The calculator generates a full month-by-month amortization table showing your payment number, payment amount, principal portion, interest portion, and remaining balance. You can also enter extra monthly payments to see how they shorten the loan and reduce total interest.
On a $300,000 mortgage at 6.5% over 30 years, your monthly payment is about $1,896. In month one, $1,625 goes to interest and only $271 goes to principal. By month 180 (halfway through), you have paid $341,000 but still owe $228,000. This front-loading is why refinancing to restart a 30-year term can cost you more in the long run, even at a lower rate. The Refinance Calculator helps you evaluate whether resetting the clock is worth it.
Even small extra payments make a dramatic difference because they go entirely toward principal, reducing the balance that accrues interest. An extra $100 per month on a $300,000 loan at 6.5% saves over $65,000 in interest and pays off the loan 5 years early. The Early Mortgage Payoff Calculator shows the exact savings for any extra payment amount.
In the early years of a mortgage, most of your payment goes to interest. On a $300,000 loan at 6.5%, your first payment sends $1,625 to interest and only $271 to principal. By year 15, the split is roughly even. By year 25, most of each payment reduces your balance. This front-loading of interest is why extra payments early in the loan have such a dramatic impact on total interest paid.
This calculator generates a full month-by-month amortization schedule showing exactly how much of each payment goes to principal vs. interest. Add extra payments to see how they shift the entire schedule and shave years off your loan. For a broader view of your mortgage options, use our mortgage calculator or explore whether refinancing makes sense.