Loan amortization calculator
Amortization Calculator
Estimate monthly payment, total interest and a yearly amortization schedule for a mortgage or fixed-rate loan.
Yearly amortization schedule
This simplified amortization schedule shows how much principal and interest may be paid each year and how the remaining loan balance may decrease over time.
| Year | Principal Paid | Interest Paid | Remaining Balance |
|---|---|---|---|
| 1 | $3353.18 | $19401.27 | $296646.82 |
| 2 | $3577.74 | $19176.70 | $293069.08 |
| 3 | $3817.35 | $18937.10 | $289251.73 |
| 4 | $4073.01 | $18681.44 | $285178.72 |
| 5 | $4345.79 | $18408.66 | $280832.93 |
| 6 | $4636.83 | $18117.62 | $276196.10 |
| 7 | $4947.37 | $17807.08 | $271248.73 |
| 8 | $5278.70 | $17475.75 | $265970.03 |
| 9 | $5632.23 | $17122.22 | $260337.81 |
| 10 | $6009.43 | $16745.02 | $254328.38 |
| 11 | $6411.89 | $16342.56 | $247916.49 |
| 12 | $6841.31 | $15913.14 | $241075.18 |
| 13 | $7299.48 | $15454.97 | $233775.70 |
| 14 | $7788.34 | $14966.11 | $225987.36 |
| 15 | $8309.94 | $14444.51 | $217677.42 |
| 16 | $8866.47 | $13887.98 | $208810.95 |
| 17 | $9460.28 | $13294.17 | $199350.68 |
| 18 | $10093.85 | $12660.60 | $189256.83 |
| 19 | $10769.85 | $11984.60 | $178486.98 |
| 20 | $11491.13 | $11263.32 | $166995.85 |
| 21 | $12260.71 | $10493.74 | $154735.14 |
| 22 | $13081.83 | $9672.62 | $141653.30 |
| 23 | $13957.95 | $8796.50 | $127695.36 |
| 24 | $14892.74 | $7861.71 | $112802.62 |
| 25 | $15890.13 | $6864.32 | $96912.49 |
| 26 | $16954.32 | $5800.13 | $79958.16 |
| 27 | $18089.79 | $4664.66 | $61868.38 |
| 28 | $19301.29 | $3453.16 | $42567.08 |
| 29 | $20593.94 | $2160.51 | $21973.15 |
| 30 | $21973.15 | $781.30 | $0.00 |
How this amortization calculator works
This calculator estimates how a fixed-rate loan may be paid down over time. Each payment is split between interest and principal. Early in the loan, more of the payment usually goes toward interest. Later in the loan, more goes toward principal.
What is amortization?
Amortization is the process of paying off a loan over time through scheduled payments. A mortgage amortization schedule shows how the balance may decline each year.
Why amortization matters
Understanding amortization can help borrowers see how much interest they may pay and how quickly the loan balance may decrease.
Principal vs interest
Principal is the amount borrowed. Interest is the cost of borrowing. An amortization schedule shows how each payment is divided between these two parts.
Important note
This calculator provides simplified educational estimates only. It does not include taxes, insurance, PMI, fees or lender-specific loan terms.