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Fixed rate amortization
Full schedule included
Extra payments optional
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Home›Calculators›Mortgage & Real Estate›Amortization Schedule Calculator

Amortization Schedule Calculator
Loan Repayment, Interest and Balance Timeline

Estimate your loan payment, full amortization schedule, total interest, payoff date, and the impact of extra payments.

📅
Your Loan Amortization Estimate
Loan Inputs
€
Principal borrowed.
%
Annual fixed interest rate. Zero is allowed.
term
Longer terms usually lower payment but increase total interest.
freq
Schedule dates and payment count follow this frequency.
date
Used for schedule and payoff date labels.
year
Payment dates step from this start point.
Extra Payments
extra
Turn on to add a recurring extra payment each period.
Periodic Payment
—
scheduled payment based on rate, term and frequency
Payoff date
—
—
Loan Amount
—
principal borrowed
Periodic Payment
—
standard payment
Extra Payment
—
per period
Total Interest Paid
—
interest total
Total Repayment
—
principal plus interest
Interest Saved
—
vs standard schedule
Time Saved
—
payoff acceleration
Remaining Balance After Year 1
—
milestone balance
Payoff Date
—
final scheduled payment
Loan Summary
Standard vs Extra Payment
Standard payoff date—
Extra payment payoff date—
Total interest difference—
Months saved—
15 vs 30 Year Term
15-year payment—
30-year payment—
Total interest difference—
Repayment difference—
Lower Rate vs Higher Rate
Lower rate payment—
Higher rate payment—
Total interest difference—
Repayment difference—
Model Summary
Total payments made—
Cumulative principal—
Cumulative interest—
Final balance—
Remaining Balance and Cumulative Interest Over Time
Remaining balance
Cumulative interest
Milestone Balance Table
YearRemaining BalanceCumulative Principal PaidCumulative Interest Paid
Amortization Schedule
Showing first 12 payments
Payment #DatePaymentPrincipalInterestBalance
Important: This calculator estimates loan amortization using a fixed interest rate, fixed payment frequency, and optional recurring extra payments. It does not replace lender statements, loan contracts, refinancing advice, or product-specific repayment rules. It is an estimate only.
✦ Cal, AI Explanation
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Your amortization estimate is ready. Ask me about principal, interest, extra payments, or why lender schedules can differ.

📌 Schedule Notes

Early payments contain more interest
Extra payments can materially reduce total interest
Longer terms usually reduce payment but increase total interest
Fixed-rate model only
Estimate only

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Mortgage Payment Calculator→ Loan Repayment Calculator→ Mortgage Overpayment Calculator→ Monthly Payment Calculator→ APR Calculator→

Related Guides

How Amortization Works→ Principal vs Interest Guide→ Extra Payment Impact Guide→

How amortization works

Amortization means each payment is split between interest and principal. Over time, the interest portion usually falls while the principal portion rises, which steadily reduces the remaining balance until the loan reaches zero.

Payment PartWhat It Does
InterestCovers borrowing cost for the current period
PrincipalReduces the remaining balance

Principal vs interest explained

Earlier payments typically contain more interest because the balance is highest at the start. As the balance falls, less interest accrues each period, so more of each payment goes toward principal.

Extra payments explained

Recurring extra payments reduce the balance faster, which lowers future interest charges and shortens payoff time. Even a modest extra amount can materially change the schedule over a long term.

Loan term impact explained

A longer term spreads the principal across more payments, which reduces the periodic payment. The trade-off is that interest has more time to accumulate, so the total interest paid is usually much higher.

Frequently Asked Questions

What is an amortization schedule?+
An amortization schedule is a payment-by-payment table showing how each payment is split between principal and interest and how the remaining balance changes over time.
Why is more interest paid early in the loan?+
Because the balance is highest at the start, so the interest charge is larger in early periods. As the balance falls, the interest part shrinks.
Do extra payments really make a big difference?+
Yes. Extra payments reduce balance directly, which can lower total interest materially and shorten the payoff timeline.
Why does a longer term increase total interest?+
Because the debt stays outstanding for longer, which gives interest more time to accumulate even though each payment may be lower.
Why can lender statements differ from this estimate?+
Lender statements can differ because of product-specific conventions, statement cutoffs, fees, compounding methods, escrow items, and payment timing rules outside this simplified model.