Amortization Calculator

Generate a full amortization schedule, see principal/interest breakdowns and extra payment savings.

What is an Amortization Calculator?

Generate a full amortization schedule showing principal and interest breakdown for each payment. See how extra payments save money.

How to Use

Using the amortization calculator is very simple:

  • Enter your values in the input fields
  • Click the calculate button
  • View the results instantly

Tips

  • Double-check your inputs for accurate results
  • This tool is for estimation - consult a professional for important decisions
  • Save your results for future reference

Frequently Asked Questions

What is amortization?+
Amortization is spreading a loan into a series of fixed payments. Early payments are mostly interest; later payments are mostly principal. The amortization schedule shows this breakdown for each payment.
How do extra payments help?+
Extra payments go directly toward the principal, reducing the balance faster. On a $250,000 mortgage at 6.5% over 30 years, adding just $200 per month saves about $108,000 in interest and pays off the loan 7 years early.
Why do my early payments go mostly to interest?+
Interest is calculated on the remaining balance. Early on, the balance is large, so most of your payment goes toward interest. As the balance shrinks, more goes toward principal. This is normal for amortized loans.

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