Real Estate
Loan Amortization Calculator
See the full repayment schedule of a mortgage or loan: how each payment splits between interest and principal, year by year and month by month, with a CSV download.
Monthly payment
$2,023
principal & interest
Total interest
$408,142
Total paid
$728,142
principal + interest
Paid off in
30 years
Each scheduled payment of $2,023 splits between interest and principal. In the first month, $1,733 goes to interest and $289 to principal; the split shifts toward principal as the balance falls.
Over the life of the loan you pay $408,142 in interest, $728,142 in total.
Your numbers
+Advanced options
Interest vs. principal, year by year
Amortization schedule
Select a year to see its months.
| Year | Principal | Interest | Balance |
|---|---|---|---|
| $3,577 | $20,695 | $316,423 | |
| $3,816 | $20,455 | $312,607 | |
| $4,072 | $20,200 | $308,535 | |
| $4,345 | $19,927 | $304,191 | |
| $4,636 | $19,636 | $299,555 | |
| $4,946 | $19,325 | $294,609 | |
| $5,277 | $18,994 | $289,332 | |
| $5,631 | $18,641 | $283,701 | |
| $6,008 | $18,264 | $277,694 | |
| $6,410 | $17,861 | $271,284 | |
| $6,839 | $17,432 | $264,444 | |
| $7,297 | $16,974 | $257,147 | |
| $7,786 | $16,485 | $249,361 | |
| $8,308 | $15,964 | $241,053 | |
| $8,864 | $15,407 | $232,189 | |
| $9,458 | $14,814 | $222,732 | |
| $10,091 | $14,180 | $212,641 | |
| $10,767 | $13,505 | $201,874 | |
| $11,488 | $12,784 | $190,386 | |
| $12,257 | $12,014 | $178,129 | |
| $13,078 | $11,193 | $165,051 | |
| $13,954 | $10,317 | $151,097 | |
| $14,888 | $9,383 | $136,208 | |
| $15,886 | $8,386 | $120,323 | |
| $16,949 | $7,322 | $103,373 | |
| $18,085 | $6,187 | $85,289 | |
| $19,296 | $4,976 | $65,993 | |
| $20,588 | $3,683 | $45,405 | |
| $21,967 | $2,305 | $23,438 | |
| $23,438 | $833 | $0 |
Amounts are not rounded to the cent each month, so a lender's statement can differ by a few cents.
How each payment is split
Interest = Balance × Rate ÷ 12; Principal = Payment − Interest
The fixed monthly payment comes from the standard formula P × r(1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan, r the annual rate divided by 12 and n the number of monthly payments. Each month, interest is charged on the balance still owed; whatever is left of the payment, plus any extra payment, reduces the balance. The last payment covers only what remains.
How amortization works
Amortization is how a loan pays itself down. The payment is set so that, after the last month, the balance reaches exactly zero. What changes along the way is the mix: early payments are mostly interest, late payments are mostly principal.
The halfway point comes late. On a 30-year loan at a typical rate, you still owe well over half the original amount after 15 years, because so much of the early payments went to interest. The schedule below shows exactly when your balance crosses each milestone.
Extra payments work best early. Money paid toward principal in the first years removes interest that would have been charged for decades. The same amount paid near the end of the loan saves far less.
To add property tax and insurance and see the full monthly housing cost, use the mortgage calculator.
Loan Amortization FAQ
What is an amortization schedule?+
It is the table of every payment on a loan, showing how much of each goes to interest, how much repays the principal, and what you still owe afterwards. On a fixed-rate loan the payment stays the same, but the split changes every month.
Why is so much of each early payment interest?+
Interest is charged on what you still owe. At the start the balance is at its largest, so the interest is too, and only a small part of the payment is left to repay principal. As the balance falls, the interest falls with it and more of the same payment goes to principal.
How amortization works: why early payments are mostly interest
What do extra payments do to the schedule?+
An extra payment goes straight to principal, so every later month charges interest on a smaller balance. The scheduled payment stays the same, but more of it repays the loan, which is why even a modest extra amount can take years off the term. Check that your lender applies extra payments to principal and charges no prepayment penalty.
Why might my lender's schedule differ slightly?+
Lenders round each payment and each month's interest to the cent, and some count interest by the exact number of days in the month. This calculator uses the standard monthly formula without rounding, so individual figures can differ by a few cents and the final payment can be slightly different.
Can I open the schedule in a spreadsheet?+
Yes. The download button saves every month — payment, interest, principal, extra principal and remaining balance — as a CSV file that opens in Excel, Google Sheets or Numbers.
Learn more
- When does refinancing pay off? The break-even point explainedDividing the costs by the monthly savings is the usual shortcut. It can flatter a new 30-year loan and undersell a shorter one.
- How amortization works: why early payments are mostly interestYour payment never changes, but what it buys does. One loan, month by month, shows where the money goes and what extra payments do.
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Educational tool, not advice. This calculator illustrates a standard formula using the numbers you enter. It does not account for your full financial picture, taxes, or local market conditions, and it is not a recommendation to buy, sell, or hold any asset. Speak with a licensed professional before making investment decisions.
See our full disclaimer and how we calculate.
Last reviewed 2026-10-17 by the Yield Analyst team