Amortization Schedule Calculator (Yearly Table)
See exactly where every mortgage payment goes, year by year, and how extra payments shrink your loan.
Amortization schedule calculator
Estimates for learning only — not a loan offer. Real numbers come from a lender’s Loan Estimate.
What is an amortization schedule?
An amortization schedule is the road map of your mortgage. It shows, payment by payment, how much of your money goes to interest (the bank’s fee for lending) and how much goes to principal (the part that actually shrinks your loan).
Your monthly principal-and-interest payment stays the same on a fixed-rate loan. What changes is the mix. Early on, most of each payment is interest. Near the end, almost all of it is principal. It’s like pushing a snowball uphill at first, then watching it roll on its own.
How the math works
Each month, the lender charges interest on the balance you still owe: balance × (annual rate ÷ 12). Whatever is left of your payment after that interest goes to principal. Because the balance falls a little every month, the interest share falls too, and the principal share grows.
The payment itself comes from the standard formula: P × r ÷ (1 − (1 + r)−n), where P is the loan amount, r is the monthly rate and n is the number of payments.
Why extra payments are so powerful
Any extra money you send goes straight to principal (ask your servicer to apply it that way). That lowers the balance the next interest charge is based on, so every future payment does a bit more work. Try typing $200 into the extra-payment box above: on the example loan it cuts more than seven years and over $120,000 in interest.
What this calculator leaves out
- Taxes, insurance and PMI. Those sit on top of principal and interest. Use the mortgage payment calculator for the full monthly cost.
- Adjustable rates. An ARM resets after the fixed period, so its schedule changes.
- Exact servicer rounding. Your servicer’s numbers may differ by a few cents.
Want to see how a bigger monthly extra changes your payoff date? The extra payment calculator and our guide to paying off a mortgage early go deeper.
FAQ
Why is so much of my early mortgage payment interest?
Interest is charged on what you still owe. At the start you owe the most, so the interest part is biggest. It shrinks every month as the balance falls.
When does principal overtake interest?
It depends on your rate. On a 30-year loan at around 7%, principal usually doesn’t make up the larger share until roughly year 20. At lower rates it happens much sooner.
Does a 15-year loan amortize faster?
Yes. Payments are higher, but far more of each one goes to principal, and the total interest is usually less than half of a 30-year loan’s. Compare both in our 15 vs 30 year guide.
Where can I find my actual amortization schedule?
Ask your loan servicer. Many show it in their online account, and your monthly statement lists how each payment was split.
Formula: standard fixed-rate amortization. Results are estimates for education only, not a loan offer. Keys & Coffee is not a lender.