Amortization Schedule Calculator
See exactly how each payment splits into principal and interest.
What this calculator helps you estimate
This calculator generates a full amortization schedule showing how each monthly payment splits between principal and interest, along with the remaining balance.
Amortization describes how a fixed loan pays down over time — early payments are interest-heavy, later payments are principal-heavy. View by year or expand to see individual months.
Inputs
Loan details
Results
Loan summary
Interpretation
Early payments are interest-heavy. As principal shrinks, more of each payment reduces the balance.
Schedule
Yearly amortization
Understand the math
How this calculator works
Amortization is the mechanical process by which a fixed loan is paid off — and it isn't a straight line. This calculator generates a month-by-month schedule showing exactly how much of each payment goes to interest versus principal, and how the balance declines over time.
Worked example
$300,000 loan, 6% rate, 30-year term — first payment only.
- Monthly payment ≈ $1,798.65
- First month's interest = $300,000 × (6% ÷ 12) = $1,500.00
- First month's principal = $1,798.65 − $1,500.00 = $298.65
In month one, roughly 83% of the payment is interest and only 17% reduces the balance.
How to read your results
Interpretation guidance
- Early payments are interest-heavy because interest is calculated on the largest remaining balance.
- The principal share of each payment grows every month even though the total payment stays the same on a fixed-rate loan.
- Look at the halfway point of your term — many 30-year loans only reach roughly 30% equity from payments alone by year 15.
- Extra principal payments shift this curve dramatically since they attack a balance that's compounding interest daily.
Deeper answers
More questions about this calculator
What is an amortization schedule?
It's a month-by-month table showing how each payment is split between principal and interest, and the remaining loan balance after each payment.
Why is early interest so high?
Interest is calculated on the outstanding balance, which is largest at the start. As principal shrinks, less of each payment goes to interest and more to principal.
Does refinancing restart the amortization curve?
Yes — a new loan begins its own schedule, which is why refinancing late into a loan's term can raise total lifetime interest even at a lower rate.
Can I see amortization by year instead of by month?
Yes, the schedule can be viewed by year for a quicker overview or expanded to individual months for detail.
Results are estimates for educational purposes only and are not a commitment to lend, loan approval, or official Loan Estimate. Actual rates, payments, costs, taxes, insurance, mortgage insurance, eligibility, and loan terms may vary.
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Answers
Frequently asked questions
What is an amortization schedule?
It's a month-by-month table showing how each payment is split between principal and interest, and the remaining loan balance after each payment.
Why is early interest so high?
Interest is calculated on the outstanding balance, which is largest at the start. As principal shrinks, less of each payment goes to interest and more to principal.
Next step
Numbers are helpful. A personalized strategy is better.
Review your scenario with a Vabasso mortgage expert. No pressure, no obligation — just clear guidance for your next move.