Amortization Calculator
See how your mortgage or loan balance decreases over time with a detailed amortization schedule.
Loan Terms
Monthly Payment
| Year | Principal | Interest | Balance |
|---|
Demystifying the Amortization Schedule
An amortization schedule is the roadmap of your loan. It shows exactly how every penny of your payment is split between the Principal (what you owe) and the Interest (the lender's profit).
The "Front-Loaded" Interest Trap
You might notice that in the first few years of a 30-year mortgage, nearly 70-80% of your payment goes straight to interest. You build equity very slowly at first. This is normal, but it's why selling a house after only 3-5 years often yields little profit.
Accelerating Your Equity
Want to beat the bank? Making just one extra mortgage payment per year (applied directly to principal) can knock 4-5 years off a 30-year loan and save you tens of thousands of dollars in interest.
Use the table above to visualize how quickly your balance drops as you move further into the loan term.