fincalculator
Amortization Calculator
Use this free Amortization Calculator to view your detailed loan payment schedule. Simple, accurate, and easy to use for mortgage tracking.
An amortization schedule is the roadmap of your loan. The Amortization Calculator breaks down every single payment you will make over the next 15 or 30 years, showing exactly how much goes to the bank (interest) and how much goes to you (principal/equity).
Early in a loan, nearly all your payment goes to interest. This tool helps you visualize that painful reality and see how extra payments can fast-track you to the "principal-heavy" side of the curve.
Fincalculator
INPUT VALUES
When to Use This Calculator
Use the Amortization Calculator to:
- Track Progress: "I've been paying for 5 years. How much do I still owe?"
- Plan Extra Payments: "If I pay an extra $100 a month, how many years will I shave off my mortgage?"
Example Scenario
Consider a $200,000 loan at 5% for 30 years.
Payment 1: You pay $1,073.
Interest: $833. Principal: $240.
Payment 180 (Year 15): You still pay $1,073.
Interest: $560. Principal: $513.
It takes 15 years before a payment sends more to principal than interest!