Mortgage Amortization Calculator



Total Monthly Payment


Total Amount


Total Loan Amount


Total of 12 Months Payments

Month Principal Interest Balance

Amortization Schedule Calculator

Mortgage Amount


Mortgage Year


Term in months

Monthly Payment

$ 2,590.96
Total Principal Paid
Total Interest Paid $60,915.23

Calculate the impact of extra payments using any combination of the inputs below. To see your new estimated payoff date, click ‘Show amortization schedule’ link above.
your monthly mortgage payment
extra yearly mortgage payment occurring every
one-time mortgage payment in
Bi-weekly payment
Yearly payment
One Time Payment

Show amortization schedule

Mortgage Calculator

How to get the best mortgage rate

Ready to buy a house? With rates rising, learn how to get the best possible rate.

First-time homebuyer guide

Use this first-time homebuyer guide to make informed decisions.

5 types of mortgages

These days, homebuyers have fewer home loan options. We explain what they are and how they work.

6 questions homebuyers should ask

Grooming your credit score and researching the housing market are on your to-do list.

Mortgage Rates

A low rate can save you hundreds each year.

Compare Rates

Ratings & Reviews

What they are sayihng about the lenders on our network

Read Lender Reviews

Amortization Schedule

Figure out your estimated mortgage payoff date.

Amortization Calculator

Credit Score

Check and monitor your credit score for free.

Get your credit score

What does amortization mean?

Amortization is the process of paying off a loan in a series of fixed payments. Each installment is directed toward either the loan principal or accrued interest.

A mortgage loan starts with a large portion of the payment going towards interest, with a much smaller amount applied to the loan principal.

You can think of this as a type of insurance policy for the lender. They want to get their money back as quickly as possible.

Over time, this allocation switches, and the principal will gradually begin to receive more and more each month.

While the split changes over the life of the loan, the monthly payments remain constant.

What is an Amortization Schedule?

Amortization gives you better insight on your payment distribution.

An amortization schedule breaks this concept down even further. The schedule can be referenced to further understand how your loan disbursement will fluctuate over time.

Here’s an overview of what an amortization schedule will provide you with:

  • Scheduled Payments: each monthly payment is individually listed for the span of the loan.
  • Allocation: how much of the total payment has been put toward the principal loan versus interest at a specified date.
  • Remaining Principal: the total amount owed on the principal currently or at a future date.
  • Interest Expenses: how much interest you will have paid over the life of the loan or at a specific date.
  • Extra Payments: how an extra payment or recurring extra payments will affect the total interest paid and decrease the loan term.
  • Equity: an amortization calculator can indicate how much equity you will have in the home at any given time during the loan period.

Amortization Schedules and Extra Payments

The information provided by an amortization schedule makes it much easier to look at the loan from a bird’s eye view and evaluate your options.

You can use the calculator to determine how much you’ll end up saving in interest by paying off the debt early or making extra payments.

An extra payment can be made with a larger sum of money, annually or semi-annually, for example. Or you can add a little extra to each mortgage payment.

It’s important to double and triple check that this additional money is going directly toward the loan principal and not towards interest.

The calculator will then show you how those extra payments will cut time off of the loan and how much money could be saved on interest. You’d be surprised how a few extra payments can significantly reduce each.

Other Calculators

Added Value

Loan Rater

Home Affordability Calculator

Home Value