Mortgage Amortization Calculator — Complete Payment Schedule
Free mortgage amortization calculator. Generate a full year-by-year and month-by-month repayment schedule with principal, interest, and extra payment options.
How to use this calculator
👉 Fill in the boxes below and your answer appears instantly — no maths needed, we do it all for you! 🎉
In plain English — what does this do?
🏠 You want to buy something big (like a house or car) but you don’t have all the money right now. A bank gives you the money today, and you pay it back little by little every month. This tool tells you ‘how much do I pay each month?’
A Mortgage Amortization Calculator generates an itemized schedule detailing every payment throughout the life of a home loan, showing how each monthly payment splits between interest and principal paydown.
📊 Annual Amortization Schedule
Principal & Interest year-by-year| Year | Beginning Balance | Principal Paid | Interest Paid | Ending Balance |
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What is Mortgage Amortization Calculator — Complete Payment Schedule?
A Mortgage Amortization Calculator generates an itemized schedule detailing every payment throughout the life of a home loan, showing how each monthly payment splits between interest and principal paydown.
How to use it
- 1️⃣ Enter your purchase price and down payment percentage (or loan amount).
- 2️⃣ Set your loan term in years (e.g. 15, 20, or 30 years) and the annual interest rate.
- 3️⃣ Optionally enter extra monthly, annual, or lump-sum payments to see how early you can pay off the mortgage.
- 4️⃣ Review the interactive amortization summary and expandable year-by-year payment schedule.
Formula
💡 See it in action — a real example
❓ Common questions
- What is mortgage amortization?
- Amortization is the process of spreading out a loan into a series of equal periodic payments. Early in the loan, most of your payment covers interest. Over time, an increasing proportion pays down the principal balance.
- How do extra payments affect the amortization schedule?
- Extra payments go 100% directly toward reducing your principal balance. By decreasing the principal balance immediately, all future monthly interest calculations are permanently reduced, accelerating your payoff date.
- What is negative amortization?
- Negative amortization occurs if monthly payments are too low to cover the accrued interest, causing the unpaid interest to be added to the principal balance, increasing what you owe over time.