Amortization Calculator
See your full loan amortization schedule — principal, interest and balance for every payment.
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Frequently Asked Questions
What is an amortization schedule?
An amortization schedule is a table showing each loan payment broken down into principal and interest. Early payments are mostly interest; later payments are mostly principal. Seeing this schedule helps you understand how your debt decreases over time.
How does extra payment affect amortization?
Making extra payments toward principal reduces the loan balance faster, saving significant interest. On a $250,000 30-year mortgage at 6.5%, paying $100 extra per month saves over $30,000 in interest and cuts the loan by 4 years.
What is a fully amortizing loan?
A fully amortizing loan is one where equal regular payments pay off the entire balance (principal + interest) by the end of the term. Most mortgages, car loans and personal loans are fully amortizing. The opposite is a bullet or balloon loan.