Amortization Schedule Calculator
Generate a full amortization table for a mortgage, car loan or personal loan, by month or by year, and see how extra payments change it.
Reading an amortization schedule
Each row shows how one payment splits between interest and principal and what you still owe afterwards. Interest is charged on the remaining balance, so it is largest at the start. On a 30-year mortgage at 6.5%, about 85% of the first payment is interest; the split doesn't tip toward principal until about year 20.
Frequently asked questions
What is amortization?
Paying off a loan with equal regular payments that cover that period's interest plus some principal, so the balance reaches zero at the end of the term.
Why does so much of my payment go to interest at first?
Interest is calculated on the balance you still owe. Early on the balance is largest, so the interest portion is largest; it shrinks with every payment.