Mortgage Amortization Calculator — Every Payment, Broken Down
See exactly how your mortgage payment splits between principal and interest, month by month or year by year — plus how much sooner extra payments get you to $0.
M = P·i(1+i)ⁿ/((1+i)ⁿ−1)
MONTHLY PAYMENT
Iₖ = Balₖ × i
INTEREST PER MONTH
Pₖ = M − Iₖ
PRINCIPAL PER MONTH
Balₖ = Balₖ₋₁ − Pₖ
RUNNING BALANCE
Mortgage Amortization
Month-by-month principal & interest split
Monthly Payment
$2,075.51
360 payments to payoff
$320,000
Principal
$427,185
Total Interest
$747,185
Total Cost
Principal vs Total Interest
Principal $320,000
Total Interest $427,185
📅 Amortization Schedule
| Period | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| Year 1 | $24,906 | $3,410 | $21,496 | $316,590 |
| Year 2 | $24,906 | $3,648 | $21,258 | $312,942 |
| Year 3 | $24,906 | $3,902 | $21,004 | $309,040 |
| Year 4 | $24,906 | $4,174 | $20,733 | $304,866 |
| Year 5 | $24,906 | $4,464 | $20,442 | $300,402 |
| Year 6 | $24,906 | $4,775 | $20,131 | $295,627 |
| Year 7 | $24,906 | $5,107 | $19,799 | $290,520 |
| Year 8 | $24,906 | $5,463 | $19,443 | $285,057 |
| Year 9 | $24,906 | $5,843 | $19,063 | $279,213 |
| Year 10 | $24,906 | $6,250 | $18,656 | $272,963 |
| Year 11 | $24,906 | $6,685 | $18,221 | $266,278 |
| Year 12 | $24,906 | $7,151 | $17,755 | $259,127 |
| Year 13 | $24,906 | $7,649 | $17,257 | $251,478 |
| Year 14 | $24,906 | $8,181 | $16,725 | $243,296 |
| Year 15 | $24,906 | $8,751 | $16,155 | $234,545 |
| Year 16 | $24,906 | $9,360 | $15,546 | $225,185 |
| Year 17 | $24,906 | $10,012 | $14,894 | $215,173 |
| Year 18 | $24,906 | $10,709 | $14,197 | $204,463 |
| Year 19 | $24,906 | $11,455 | $13,451 | $193,008 |
| Year 20 | $24,906 | $12,253 | $12,654 | $180,756 |
| Year 21 | $24,906 | $13,106 | $11,800 | $167,650 |
| Year 22 | $24,906 | $14,018 | $10,888 | $153,632 |
| Year 23 | $24,906 | $14,994 | $9,912 | $138,638 |
| Year 24 | $24,906 | $16,038 | $8,868 | $122,600 |
| Year 25 | $24,906 | $17,155 | $7,751 | $105,445 |
| Year 26 | $24,906 | $18,349 | $6,557 | $87,095 |
| Year 27 | $24,906 | $19,627 | $5,279 | $67,468 |
| Year 28 | $24,906 | $20,994 | $3,912 | $46,474 |
| Year 29 | $24,906 | $22,455 | $2,451 | $24,019 |
| Year 30 | $24,906 | $24,019 | $887 | $0 |
Reading Your Amortization Schedule
📉 The Early Years
On a 30-year loan, the first several years can be 70-80% interest. Your balance barely moves even though you're writing a full payment every month — this is normal amortization math, not a bad deal.
📈 The Crossover Point
Somewhere around the midpoint of the term, principal overtakes interest as the bigger slice of your payment. Every payment after that builds equity faster than the one before it.
💵 Extra Payments
Any extra dollar you send goes straight to principal, which shrinks the balance interest is charged against for every remaining month — that's why small extra payments compound into large savings.
🔁 Refinancing Mid-Schedule
Refinancing restarts your amortization clock at the new balance, rate, and term — check the refinance calculator to see if a new schedule actually saves you money after closing costs.
— FAQ