Amortization Calculator

Get a complete payment-by-payment schedule for any fixed-rate loan. See how each payment splits between interest and principal, and download the table as a spreadsheet.

Monthly payment
–
Total interest–
Total of payments–
Payoff date–
Halfway point–

YearPaymentPrincipalInterestBalance

How amortization works

Each month, interest is calculated on the balance (balance × annual rate ÷ 12). Your fixed payment covers that interest first, and whatever is left reduces the principal.

Payment = P × r ÷ (1 − (1 + r)−n)
Interest this month = balance × r
Principal this month = payment − interest

Example: $300,000 at 6.75% for 30 years

  • Monthly payment: about $1,945.79
  • First payment: $1,687.50 interest and only $258.29 principal
  • Total interest over 30 years: about $400,486, more than the amount borrowed

The "halfway point" shows when you will have paid off half the balance. On a long loan at today's rates, that is usually well past the halfway mark in time, because early payments are mostly interest.

Using the schedule

  • See how much interest you could deduct in a given year (if you itemize).
  • Find your balance at any date, for example before selling or refinancing.
  • Test extra payments and watch the payoff date move.

Want taxes and insurance too? Use the mortgage calculator. To focus on extra payments, try the mortgage payoff calculator.

Last reviewed October 2026.

Frequently asked questions

What is an amortization schedule?

It is a table showing every payment on a loan, split into how much goes to interest and how much reduces the principal, along with the balance left after each payment.

Why is so much of my early payment interest?

Interest is charged on the remaining balance. At the start the balance is largest, so interest takes most of the payment. As you pay the balance down, the interest portion shrinks and the principal portion grows, even though the payment stays the same.

Can I download the schedule?

Yes. Press "Download CSV" to save the full monthly schedule as a spreadsheet file you can open in Excel, Google Sheets or Numbers.

What is the difference between monthly and yearly view?

The monthly view lists every payment. The yearly view adds up the principal and interest for each year, which makes long loans like 30-year mortgages easier to scan.

Does this include taxes and insurance?

No. It covers principal and interest only. For a home loan with property tax, insurance and PMI, use the mortgage calculator.