Amortization Schedule

An amortization schedule is a table that shows each periodic payment on a loan, breaking down how much goes toward principal and how much goes toward interest. In the early years, most of your payment goes to interest. Over time, more goes toward principal as the balance decreases. This schedule helps you understand exactly how your loan is paid off over time.

Mortgage amortization spreads your loan into equal monthly payments over the loan term. Each payment covers interest on the remaining balance plus a portion of principal. Because interest is calculated on the outstanding balance, early payments are mostly interest while later payments are mostly principal. This is why a 30-year mortgage costs significantly more in total interest than a 15-year.

In the early years of a 30-year mortgage, about 80-90% of your payment goes to interest. By year 20, roughly half goes to principal. At the end, nearly all goes to principal. Our amortization schedule shows the exact breakdown for every payment so you can see this progression clearly.

Yes. Enter your current loan balance, interest rate, and remaining term into our calculator. It will generate a complete amortization schedule from today through payoff, showing exactly how each payment reduces your balance and how much interest you'll pay remaining on the loan.

Extra payments reduce your principal balance faster, which means less interest accrues. This shortens your loan term and reduces total interest paid. The amortization schedule shifts — you pay off the loan earlier and more of each subsequent payment goes to principal. Use our Extra Payment Calculator to see the impact.

Amortization spreads payments evenly over the loan term until the balance reaches zero. A balloon payment loan has smaller regular payments with a large lump-sum payment due at the end. Most residential mortgages are fully amortizing, but some commercial loans and specialty products use balloon payments.