Amortization Calculator
Generate a complete amortization schedule for any loan or mortgage, showing exactly how much of each payment goes to principal versus interest.
Monthly payment
$1,896.20
Yearly summary
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $3,353.18 | $19,401.27 | $296,646.82 |
| 2 | $3,577.74 | $19,176.70 | $293,069.08 |
| 3 | $3,817.35 | $18,937.10 | $289,251.73 |
| 4 | $4,073.01 | $18,681.44 | $285,178.72 |
| 5 | $4,345.79 | $18,408.66 | $280,832.93 |
| 6 | $4,636.83 | $18,117.62 | $276,196.10 |
| 7 | $4,947.37 | $17,807.08 | $271,248.73 |
| 8 | $5,278.70 | $17,475.75 | $265,970.03 |
| 9 | $5,632.23 | $17,122.22 | $260,337.81 |
| 10 | $6,009.43 | $16,745.02 | $254,328.38 |
| 11 | $6,411.89 | $16,342.56 | $247,916.49 |
| 12 | $6,841.31 | $15,913.14 | $241,075.18 |
| 13 | $7,299.48 | $15,454.97 | $233,775.70 |
| 14 | $7,788.34 | $14,966.11 | $225,987.36 |
| 15 | $8,309.94 | $14,444.51 | $217,677.42 |
| 16 | $8,866.47 | $13,887.98 | $208,810.95 |
| 17 | $9,460.28 | $13,294.17 | $199,350.68 |
| 18 | $10,093.85 | $12,660.60 | $189,256.83 |
| 19 | $10,769.85 | $11,984.60 | $178,486.98 |
| 20 | $11,491.13 | $11,263.32 | $166,995.85 |
| 21 | $12,260.71 | $10,493.74 | $154,735.14 |
| 22 | $13,081.83 | $9,672.62 | $141,653.30 |
| 23 | $13,957.95 | $8,796.50 | $127,695.36 |
| 24 | $14,892.74 | $7,861.71 | $112,802.62 |
| 25 | $15,890.13 | $6,864.32 | $96,912.49 |
| 26 | $16,954.32 | $5,800.13 | $79,958.16 |
| 27 | $18,089.79 | $4,664.66 | $61,868.38 |
| 28 | $19,301.29 | $3,453.16 | $42,567.08 |
| 29 | $20,593.94 | $2,160.51 | $21,973.15 |
| 30 | $21,973.15 | $781.30 | $0.00 |
What Your Result Means
Each row of the schedule shows a single payment split into principal (money that reduces your balance) and interest (the lender's charge for that period). Early in a loan, most of each payment goes to interest; later payments are mostly principal - this calculator shows you exactly when that shift happens.
How It Is Calculated
Calqora calculates a fixed monthly payment using the standard amortization formula, then walks through every payment period, calculating interest on the remaining balance, subtracting that from the payment to find principal, and reducing the balance accordingly - repeating until the loan reaches $0.
Worked Example
On a $300,000 loan at 6.5% over 30 years, the very first payment of about $1,896 includes roughly $1,625 in interest and only $271 in principal. By the final year, that ratio has almost entirely flipped.
Important Assumptions
- Assumes a fixed interest rate and fixed monthly payment for the full term.
- Does not include taxes, insurance, or HOA - see the Mortgage Calculator for those.
Frequently Asked Questions
- Why is so much of my early payment interest?
- Interest is calculated on your current balance, which is highest at the start of the loan. As the balance shrinks, less interest accrues each month, so more of your fixed payment goes toward principal.
- Can I use this for a mortgage?
- Yes - this works for any fixed-rate installment loan, including mortgages. For a payment breakdown that also includes taxes and insurance, use the Mortgage Calculator.
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Methodology
This calculator uses the standard fixed-rate amortization formula, applied period by period. See our methodology page for details.
This calculator provides estimates for educational purposes only. Actual rates, taxes, insurance, fees, and lender terms may differ. It does not constitute financial advice - consult a qualified financial professional before making financial decisions.