Amortization Calculator
Generate a full month-by-month loan schedule instantly — principal vs interest split, extra-payment savings, and your exact payoff date.
Loan Details
Full month-by-month breakdown
Results update live as you type.
Monthly Payment
$1,264
Principal & interest
Loan Amount
$200,000
Original balance
Total Interest
$255,089
Over loan lifetime
Payoff Date
Sep 2056
360 payments
Principal vs Total Interest
- Principal
- Total Interest
Balance Over Time
Amortization Schedule
| Period | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| Month 1 | $1,264 | $181 | $1,083 | $199,819 |
| Month 2 | $1,264 | $182 | $1,082 | $199,637 |
| Month 3 | $1,264 | $183 | $1,081 | $199,455 |
| Month 4 | $1,264 | $184 | $1,080 | $199,271 |
| Month 5 | $1,264 | $185 | $1,079 | $199,086 |
| Month 6 | $1,264 | $186 | $1,078 | $198,900 |
| Month 7 | $1,264 | $187 | $1,077 | $198,714 |
| Month 8 | $1,264 | $188 | $1,076 | $198,526 |
| Month 9 | $1,264 | $189 | $1,075 | $198,337 |
| Month 10 | $1,264 | $190 | $1,074 | $198,147 |
| Month 11 | $1,264 | $191 | $1,073 | $197,956 |
| Month 12 | $1,264 | $192 | $1,072 | $197,765 |
| Month 13 | $1,264 | $193 | $1,071 | $197,572 |
| Month 14 | $1,264 | $194 | $1,070 | $197,378 |
| Month 15 | $1,264 | $195 | $1,069 | $197,183 |
| Month 16 | $1,264 | $196 | $1,068 | $196,987 |
| Month 17 | $1,264 | $197 | $1,067 | $196,789 |
| Month 18 | $1,264 | $198 | $1,066 | $196,591 |
| Month 19 | $1,264 | $199 | $1,065 | $196,392 |
| Month 20 | $1,264 | $200 | $1,064 | $196,192 |
| Month 21 | $1,264 | $201 | $1,063 | $195,990 |
| Month 22 | $1,264 | $203 | $1,062 | $195,788 |
| Month 23 | $1,264 | $204 | $1,061 | $195,584 |
| Month 24 | $1,264 | $205 | $1,059 | $195,379 |
| Month 25 | $1,264 | $206 | $1,058 | $195,174 |
| Month 26 | $1,264 | $207 | $1,057 | $194,967 |
| Month 27 | $1,264 | $208 | $1,056 | $194,759 |
| Month 28 | $1,264 | $209 | $1,055 | $194,549 |
| Month 29 | $1,264 | $210 | $1,054 | $194,339 |
| Month 30 | $1,264 | $211 | $1,053 | $194,128 |
| Month 31 | $1,264 | $213 | $1,052 | $193,915 |
| Month 32 | $1,264 | $214 | $1,050 | $193,701 |
| Month 33 | $1,264 | $215 | $1,049 | $193,486 |
| Month 34 | $1,264 | $216 | $1,048 | $193,270 |
| Month 35 | $1,264 | $217 | $1,047 | $193,053 |
| Month 36 | $1,264 | $218 | $1,046 | $192,834 |
How to Use the Amortization Calculator
An amortization schedule shows exactly how each loan payment splits between principal and interest, month by month. Enter a loan amount, rate, and term above and this amortization calculator generates the full schedule instantly, along with total interest and your payoff date. Add a monthly extra payment to see how much time and interest it saves. For a home loan that also folds in taxes, insurance, and PMI, use the full mortgage calculator instead.
Amortization Formula
- M = monthly payment
- P = principal loan amount
- r = monthly rate (annual ÷ 12)
- n = total number of payments
Example: $200,000 at 6.5% over 30 years → M ≈ $1,264/month.
How Interest Front-Loading Works
In the early months, most of your payment goes to interest. As the balance shrinks, more goes to principal each month:
- Month 1 (of 360): mostly interest, a small principal slice.
- Month 180 (halfway): roughly an even split.
- Month 360 (final): almost entirely principal.
This is exactly why paying extra early saves the most.
Power of Extra Payments
- Extra $100/month on this example loan → saves ~$55,946 and pays it off 5.6 years sooner.
- Extra $200/month on this example loan → saves ~$90,077 and pays it off 9.2 years sooner.
- Extra $500/month on this example loan → saves ~$144,148 and pays it off 15.3 years sooner.
Use the “Extra Payment” field above to see your own personalized savings instantly.
Amortization vs Simple Interest
Amortized loans charge interest on the shrinking balance each month, so the interest portion decreases over time. Most mortgages and auto loans work this way.
Simple interest is calculated only on the original principal, ignoring how much has already been repaid — less common for term loans, but core to how a compound interest calculator models growth on the savings side.
— FAQ