Loans
Loan Amortization Calculator
Generate a complete month-by-month amortization schedule showing payment, principal, interest, and remaining balance for every payment of your loan.
🔒 All calculations happen instantly in your browser. No data is sent to any server.
How the calculation works
Each row of the schedule is calculated as:
Interest Portion = Remaining Balance × (Annual Rate ÷ 12)
Principal Portion = Monthly Payment − Interest Portion
New Balance = Previous Balance − Principal Portion
Because balance decreases each month, the interest portion shrinks and the principal portion grows — a process called negative amortization reversal. Early payments are mostly interest; late payments are mostly principal.
Frequently Asked Questions
- A table showing every payment of a loan, broken down into how much goes to interest and how much to principal, plus the remaining balance after each payment. It reveals the true cost of borrowing over time.
- At the start, your balance is at its highest. Interest = balance × monthly rate, so it's highest early on. As the balance falls, less goes to interest and more to principal. This is called front-loaded interest.
- Mortgage interest on a primary residence is often tax-deductible in the US. The amortization schedule shows exactly how much interest you paid in each calendar year — useful for itemising deductions on Schedule A.
- On a 30-year mortgage at 7%, the tipping point is around month 222 (year 18-19) — past that, more of each payment goes to principal than interest. The calculator table shows this visually as the principal column grows.
- Yes — for any fixed-rate amortizing loan. Enter the original amount, rate, and full term. For the remaining schedule mid-loan, enter your current balance, current rate, and remaining months (converted to years).
- Extra payments reduce the principal faster, so the schedule shortens and interest on all remaining rows decreases. Use the Extra Payment Loan Calculator to model this; the amortization schedule assumes standard payments only.