Amortization Calculator
Calculate each payment's principal, interest, and remaining balance in a complete loan payoff schedule.
This selection only changes the currency unit. Amounts are not converted using exchange rates.
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months
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Regular monthly payment
Actual payoff time—
Estimated payoff date—
Cumulative interest—
Total cost including fees—
Principal in the first month—
Interest in the first month—
Balance and cumulative interest
Complete monthly amortization schedule
| Month | Payment | Principal | Interest | Remaining balance |
|---|
The schedule assumes a constant interest rate and constant payments. Rounding may cause small differences from an offer provided by a lender.
Split every payment into principal and interest
The full amortization schedule shows payment, interest, principal, and remaining balance for every month. Extra monthly payments and an upfront payment are reflected directly in the schedule.
Why the interest portion declines
Interest is calculated on the outstanding balance. It is therefore highest at the start and declines as principal is repaid. Fees are included in total cost but are not presented as interest.
Frequently Asked Questions
Reading Your Amortization Schedule
In the early years of a loan, most of each payment goes to interest. As the balance decreases, more of each payment goes toward principal. The schedule shows the first 24 months in full, then annual summaries, so you can see how quickly you build equity.
Why is the interest portion higher at the start?
Interest is calculated from the outstanding balance. Because that balance is largest at the beginning, the first payments contain more interest.
How does an extra payment change the schedule?
It reduces principal sooner, so later interest is calculated from a smaller balance and the loan may end earlier.
What does remaining balance mean?
It is the principal still owed after the payment for that month has been applied.
Which fees may be missing?
Only the entered upfront fee is included. Insurance, account charges, and other contract costs are not added automatically.
What happens with a variable interest rate?
The schedule assumes the entered rate stays constant. Recalculate with the new rate whenever the lender changes it.