Amortization Calculator
Full payment-by-payment schedule with real calendar dates, extra payments and interest saved
Quick Tips
- An extra payment made in year 1 saves far more interest than the same amount paid in year 20.
- Biweekly payments work because 26 half-payments equal 13 monthly payments, not 12.
- This schedule covers principal and interest only — property tax, insurance and PMI are separate.
Monthly Payment
| Year | Paid | Interest | Principal | Balance |
|---|---|---|---|---|
| 2026 | $7,900.85 | $6,758.52 | $1,142.33 | $248,857.67 |
| 2027 | $18,962.04 | $16,091.22 | $2,870.82 | $245,986.86 |
| 2028 | $18,962.04 | $15,898.96 | $3,063.08 | $242,923.78 |
| 2029 | $18,962.04 | $15,693.82 | $3,268.22 | $239,655.55 |
| 2030 | $18,962.04 | $15,474.94 | $3,487.10 | $236,168.45 |
| 2031 | $18,962.04 | $15,241.40 | $3,720.64 | $232,447.82 |
| 2032 | $18,962.04 | $14,992.22 | $3,969.82 | $228,478.00 |
| 2033 | $18,962.04 | $14,726.36 | $4,235.68 | $224,242.32 |
| 2034 | $18,962.04 | $14,442.69 | $4,519.35 | $219,722.97 |
| 2035 | $18,962.04 | $14,140.02 | $4,822.02 | $214,900.94 |
| 2036 | $18,962.04 | $13,817.08 | $5,144.96 | $209,755.98 |
| 2037 | $18,962.04 | $13,472.51 | $5,489.53 | $204,266.45 |
| 2038 | $18,962.04 | $13,104.87 | $5,857.17 | $198,409.28 |
| 2039 | $18,962.04 | $12,712.60 | $6,249.44 | $192,159.84 |
| 2040 | $18,962.04 | $12,294.06 | $6,667.98 | $185,491.86 |
| 2041 | $18,962.04 | $11,847.50 | $7,114.54 | $178,377.32 |
| 2042 | $18,962.04 | $11,371.02 | $7,591.02 | $170,786.30 |
| 2043 | $18,962.04 | $10,862.64 | $8,099.40 | $162,686.90 |
| 2044 | $18,962.04 | $10,320.21 | $8,641.83 | $154,045.06 |
| 2045 | $18,962.04 | $9,741.45 | $9,220.59 | $144,824.47 |
| 2046 | $18,962.04 | $9,123.93 | $9,838.11 | $134,986.35 |
| 2047 | $18,962.04 | $8,465.05 | $10,496.99 | $124,489.36 |
| 2048 | $18,962.04 | $7,762.05 | $11,199.99 | $113,289.37 |
| 2049 | $18,962.04 | $7,011.96 | $11,950.08 | $101,339.29 |
| 2050 | $18,962.04 | $6,211.64 | $12,750.40 | $88,588.90 |
| 2051 | $18,962.04 | $5,357.73 | $13,604.31 | $74,984.58 |
| 2052 | $18,962.04 | $4,446.62 | $14,515.42 | $60,469.16 |
| 2053 | $18,962.04 | $3,474.50 | $15,487.54 | $44,981.62 |
| 2054 | $18,962.04 | $2,437.27 | $16,524.77 | $28,456.84 |
| 2055 | $18,962.04 | $1,330.57 | $17,631.47 | $10,825.37 |
| 2056 | $11,061.19 | $235.82 | $10,825.37 | $0.00 |
Last updated: August 21, 2026
Amortization Calculator: See Every Payment, Interest and Principal Split
An amortization schedule is the payment-by-payment proof of where your money goes. Every payment on a fixed-rate loan is the same size, but the split inside it changes every single month — heavily weighted to interest at the start, heavily weighted to principal at the end. This calculator builds the full schedule with real calendar dates, so you can find any specific month and see exactly what you owe.
Example: $250,000 at 6.5% over 30 years costs $1,580.17 a month, and $318,861 in interest — more than the loan itself. Add $200 a month and you save roughly $85,000 of that and finish over 6 years early.
How the Payment Is Calculated
Payment = P × [ r(1+r)n ] ÷ [ (1+r)n − 1 ]
- P — the loan amount (principal)
- r — the monthly interest rate, which is the annual rate divided by 12
- n — the total number of monthly payments (years × 12)
Each month, interest is charged on whatever balance is left. Whatever is left of your payment after that interest goes to principal. Because the balance shrinks every month, the interest charge shrinks with it — and since the payment is fixed, the principal portion grows. That accelerating handover is the whole shape of an amortized loan.
The Three Ways to Pay Less Interest
Extra Every Month
The most reliable method. Every extra dollar goes straight to principal and erases all the future interest that dollar would have generated. Even $50 a month makes a visible dent over a 30-year term.
Biweekly Payments
Paying half your payment every two weeks means 26 half-payments a year — 13 monthly payments instead of 12. That single extra payment typically cuts 4 to 6 years off a 30-year mortgage without feeling like a budget change.
Lump Sums
A bonus or tax refund applied to principal removes interest for the entire remaining term. Timing matters enormously: the same lump sum is worth several times more in year 2 than in year 20.
Why Early Payments Matter So Much More
On a 30-year mortgage at 6.5%, roughly 78% of your first payment is interest. By year 20 that has flipped, and most of the payment is principal. This is not a penalty your lender applies — it falls out of the math, because interest is always charged on the outstanding balance and the balance is at its highest on day one.
The practical consequence: an extra $100 in month 1 avoids interest for 359 remaining months, while the same $100 in month 300 avoids interest for only 60. If your budget only allows extra payments in some years, make them the early ones.
What This Schedule Does Not Include
Escrow items. Property tax, homeowners insurance, PMI and HOA dues are usually collected alongside a mortgage payment but are not part of amortization. Use the mortgage calculator for a full PITI estimate.
Fees rolled into the balance. If your lender financed an origination fee, add it to the loan amount above.
Variable rates. This models a fixed rate for the whole term. An ARM's schedule changes at each reset.
Why Trust This Calculator?
Accuracy: Uses the same standard amortization formula lenders use. Figures should land within a few dollars of your lender's own schedule — small gaps come from day-count conventions and rounding.
Privacy: Nothing is stored or sent anywhere. The calculation runs entirely in your browser.
Portable: Export the full schedule to CSV or PDF, or use Copy Link to save your exact scenario in the URL.