Amortization Calculator

Generate a complete loan payment schedule showing how each payment splits between principal and interest. See how extra payments can save thousands in interest and years off your loan. This complements our mortgage calculator and loan calculator.

Understanding the Schedule

Early payments are mostly interest; later payments are mostly principal. This is why extra payments early in the loan term have the biggest impact on total interest paid.

Extra Payment Strategy

• Even small extra payments add up significantly over time
• Bi-weekly payments (26 half-payments) equal 13 monthly payments per year
• Apply extra payments to principal, not future payments
• Check for prepayment penalties before paying extra

Live Rate Integration

We display current average mortgage rates from Federal Reserve data. Use these as benchmarks when comparing loan offers or considering refinancing.

Related Financial Tools

Balance loan payments with savings using our retirement calculator. For credit cards and other debts, try our debt payoff calculator. See how your money could grow with compound interest instead of going to loan interest. Use the auto loan calculator for vehicle financing schedules.