Mortgage Amortization Calculator
Monthly Schedule & Extra Payments
A mortgage is the largest financial commitment most people make. This free mortgage amortization calculator instantly shows your monthly payment breakdown, total interest cost, and a complete amortization schedule with extra payment options. Enter your loan details below — then download the full amortization table as CSV or Excel.
Mortgage Details
Configure your loan parameters to see your results.
Monthly Payment
$1,703.37
Quick Guide
- 1Enter your loan amount
- 2Set the annual interest rate
- 3Choose your loan term
- 4Click Update to refresh
- 5Download your table
Amortization Schedule
Visualize your loan balance reduction over time.
Total Interest
$313,212
Total Payoff Cost
$613,212
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Compare Rates Now →Amortization Schedule
Breakdown of payments over time.
| Year | Interest | Principal | Ending Balance |
|---|---|---|---|
| 1 | $16,399.14 | $4,041.27 | $295,958.73 |
| 2 | $16,171.18 | $4,269.23 | $291,689.50 |
| 3 | $15,930.36 | $4,510.05 | $287,179.46 |
| 4 | $15,675.96 | $4,764.45 | $282,415.01 |
| 5 | $15,407.20 | $5,033.20 | $277,381.81 |
| 6 | $15,123.29 | $5,317.11 | $272,064.70 |
| 7 | $14,823.37 | $5,617.04 | $266,447.66 |
| 8 | $14,506.52 | $5,933.88 | $260,513.78 |
| 9 | $14,171.80 | $6,268.60 | $254,245.17 |
| 10 | $13,818.20 | $6,622.20 | $247,622.97 |
| 11 | $13,444.66 | $6,995.74 | $240,627.23 |
| 12 | $13,050.04 | $7,390.36 | $233,236.87 |
| 13 | $12,633.17 | $7,807.23 | $225,429.64 |
| 14 | $12,192.78 | $8,247.62 | $217,182.01 |
| 15 | $11,727.55 | $8,712.85 | $208,469.16 |
| 16 | $11,236.08 | $9,204.33 | $199,264.83 |
| 17 | $10,716.88 | $9,723.52 | $189,541.31 |
| 18 | $10,168.40 | $10,272.01 | $179,269.30 |
| 19 | $9,588.98 | $10,851.43 | $168,417.87 |
| 20 | $8,976.87 | $11,463.53 | $156,954.34 |
| 21 | $8,330.24 | $12,110.17 | $144,844.17 |
| 22 | $7,647.13 | $12,793.28 | $132,050.89 |
| 23 | $6,925.49 | $13,514.92 | $118,535.97 |
| 24 | $6,163.14 | $14,277.27 | $104,258.71 |
| 25 | $5,357.79 | $15,082.62 | $89,176.09 |
| 26 | $4,507.01 | $15,933.39 | $73,242.70 |
| 27 | $3,608.24 | $16,832.16 | $56,410.54 |
| 28 | $2,658.78 | $17,781.63 | $38,628.91 |
| 29 | $1,655.75 | $18,784.65 | $19,844.25 |
| 30 | $596.15 | $19,844.25 | $0.00 |
How Mortgage Amortization Works
This calculator uses the standard Linear Amortization Model. Your monthly payment remains fixed, but how it is split between principal and interest shifts monthly.
Key Takeaway: Early payments primarily cover interest, while later payments accelerate your equity by targeting the principal.
Real-World Case Study
Example: $300,000 Portfolio @ 4% / 30Y
Loan
$300k
Monthly
$1,432
Interest
$215k
Cost
$515k
Pro Tip: You pay 72% more than the original loan. Adding just 30,000+ in interest costs.
The Financial Mathematics
M = P × [ r(1+r)ⁿ ] / [ (1+r)ⁿ – 1 ]
What This Tool Provides
Payment Estimate
Instant month-by-month results based on latest rates.
Full Schedule
Complete multi-year breakdown of principal and interest.
Savings Modeling
Calculate exactly how extra payments cut your debt.
Instant Export
Download high-resolution CSV/Excel files for budgeting.
Mortgage Guide & FAQ
QuestionWhat is a mortgage amortization schedule?
A complete month-by-month table showing how each payment is split between principal and interest, and your remaining loan balance. It lets you see exactly how your debt decreases over time.
QuestionHow do extra payments help?
Extra payments reduce your principal faster, which lowers the interest charged each month — a compounding effect that can cut years off your loan and save tens of thousands of dollars.
Question15-year vs 30-year mortgage — which is better?
A 15-year mortgage costs more monthly but saves 50–60% in total interest. A 30-year mortgage has lower payments for better cash flow, but you pay roughly double the total interest over the life of the loan.
QuestionCan I download the amortization table?
Yes — after calculating, click the Download button to export a full monthly breakdown as CSV or Excel.
QuestionDoes this include property taxes and insurance?
No — this shows principal and interest (P&I) only. Your actual total monthly payment will also include property taxes, homeowner's insurance, and PMI if your down payment is under 20%.