Amortization Calculator
Generate a full month-by-month amortization schedule showing how each payment splits between principal and interest.
Reviewed October 7, 2026 Runs in your browser — inputs are never stored
This tool provides general financial estimates for educational purposes only and is not personalized financial, tax, or investment advice. Consult a licensed financial professional before making major financial decisions.
About the Amortization Calculator
The amortization calculator turns a fixed-rate loan into a full payment schedule. For every month it shows how much of the payment goes to interest, how much reduces the principal and what balance remains. Early payments are mostly interest because interest is charged on a large balance; as the balance falls, more of each payment goes to principal. Seeing the schedule makes it clear why extra payments early in a loan save so much and how much equity you build in a given year. It works for mortgages, car loans and personal loans with a fixed rate and fixed monthly payments.
How to use it
- 1Enter the loan amount.
- 2Enter the annual interest rate as a percentage.
- 3Enter the loan term in years.
- 4Press Calculate to see the monthly payment, total interest and the balance chart.
- 5Scroll the schedule to see any individual payment.
Worked example
a $250,000 loan at 6% for 30 years has a payment of about $1,498.88. In the first month $1,250.00 is interest and only $248.88 reduces the balance. Over the full term you pay about $289,595 in interest — more than the amount borrowed.
How it works
How it works
Each payment is fixed, but the interest portion shrinks and the principal portion grows over time as the balance falls.
Who it is for
Homeowners and borrowers who want to understand where each payment goes and how fast they are building equity.
Why it helps
The schedule shows the real cost of a loan over time and makes the benefit of overpaying easy to see.
Common use cases
- Seeing how much principal you will have paid off after five years
- Understanding why early mortgage payments are mostly interest
- Planning when to make extra payments
- Comparing a 15-year and a 30-year loan
Frequently asked questions
A:Interest is charged on the outstanding balance, which is largest at the start of the loan.
A:Yes, the table lists all payments for the full term; scroll to view later months.
Reviewed for accuracy · Last updated October 7, 2026
Formulas follow standard amortization, present/future value, and compounding mathematics used throughout the financial industry, and are periodically checked against reference calculations.
CalcWisee Editorial Team
Calculator development and formula review
CalcWisee is an independent site founded by Ayman. Every calculator is built from a published formula or official definition, tested against hand-worked examples before it goes live, and corrected promptly when a reader reports an issue to ayman@calcwisee.com.
Expertise: Financial mathematics, Health and fitness formulas, Applied mathematics, Unit conversion standards
References & sources
Related guides
How Mortgage Payments Are Calculated (PITI Explained)
See exactly how principal, interest, taxes, and insurance combine into your monthly mortgage payment, with a worked example and ways to lower it.
Mortgage Calculator: Estimate Your Monthly Home Payment
Estimate monthly home loan payments, calculate interest costs, compare mortgage options, and plan your home purchase with confidence.
The Power of Compound Interest Over Time
Why compound interest is called the eighth wonder of the world, with worked examples showing how time turns small savings into large sums.