Mortgage amortization calculator
This schedule shows how the loan balance falls over time and why interest takes a larger share in the early years.
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How to use it
- Enter loan amount, annual interest or profit rate and loan term.
- The result appears straight away and updates as you edit.
- Copy the result, or copy a link that keeps the same values to share it.
How it is calculated
Payment = L x r / (1 - (1 + r)^-n). Each month: interest = balance x r, principal = payment - interest, new balance = balance - principal.
Example
Inputs: Loan amount = 200,000, Annual interest or profit rate = 6 %, Loan term = 30 years. Result: Monthly payment: 1,199.10; Total interest: 231,676.38; Interest in year 1: 11,933.19.
Limits and caveats
- Assumes a fixed rate and on-time payments with no extra payments.
- Table figures are rounded to 2 decimals.
Questions about this tool
Why is interest higher at the start?
Interest is charged on the remaining balance, which is at its highest at the beginning.
When does principal overtake interest?
Find the first year where the principal column exceeds the interest column. It comes later with longer terms or higher rates.
Does paying early help?
Extra payments cut the balance that interest is charged on, but check your contract for early settlement fees.