Amortization Calculator
Break any loan into a payment-by-payment schedule of principal and interest.
Quick answer
An amortization schedule breaks each loan payment into interest (the balance times the monthly rate) and principal (the rest), showing the balance falling to zero over the term. Interest dominates early payments and principal dominates later ones.
Monthly payment
$1,580.17
Total interest
$318,861
Total paid
$568,861
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $2,794 | $16,168 | $247,206 |
| 2 | $2,981 | $15,981 | $244,224 |
| 3 | $3,181 | $15,781 | $241,043 |
| 4 | $3,394 | $15,568 | $237,649 |
| 5 | $3,621 | $15,341 | $234,027 |
| 6 | $3,864 | $15,098 | $230,163 |
| 7 | $4,123 | $14,839 | $226,041 |
| 8 | $4,399 | $14,563 | $221,642 |
| 9 | $4,694 | $14,269 | $216,948 |
| 10 | $5,008 | $13,954 | $211,940 |
| 11 | $5,343 | $13,619 | $206,597 |
| 12 | $5,701 | $13,261 | $200,896 |
| 13 | $6,083 | $12,879 | $194,813 |
| 14 | $6,490 | $12,472 | $188,323 |
| 15 | $6,925 | $12,037 | $181,398 |
| 16 | $7,389 | $11,573 | $174,009 |
| 17 | $7,884 | $11,078 | $166,126 |
| 18 | $8,412 | $10,551 | $157,714 |
| 19 | $8,975 | $9,987 | $148,739 |
| 20 | $9,576 | $9,386 | $139,163 |
| 21 | $10,217 | $8,745 | $128,946 |
| 22 | $10,902 | $8,061 | $118,044 |
| 23 | $11,632 | $7,330 | $106,413 |
| 24 | $12,411 | $6,551 | $94,002 |
| 25 | $13,242 | $5,720 | $80,760 |
| 26 | $14,129 | $4,833 | $66,632 |
| 27 | $15,075 | $3,887 | $51,557 |
| 28 | $16,084 | $2,878 | $35,473 |
| 29 | $17,162 | $1,800 | $18,311 |
| 30 | $18,311 | $651 | $0 |
Reading an amortization schedule
Every fixed payment splits into interest (the balance times the monthly rate) and principal (the rest). The split shifts steadily: on a 30-year loan at 6.5%, the first payment is roughly three-quarters interest, while the last is nearly all principal. The crossover — where payments become majority-principal — often arrives past the loan's halfway point.
Why this table matters
The schedule shows exactly how much equity each year builds and what refinancing or extra payments would work against. Lenders publish the same table at closing; running your own numbers first means no surprises at the table.
Frequently asked questions
- How does the Amortization Calculator work?
- An amortization schedule breaks each loan payment into interest (the balance times the monthly rate) and principal (the rest), showing the balance falling to zero over the term. Interest dominates early payments and principal dominates later ones.
- Is the Amortization Calculator free to use?
- Yes. The Amortization Calculator is completely free, runs entirely in your browser, and requires no account or sign-up. Your inputs never leave your device.
Sources & methodology
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