Amortization Schedule Calculator
Calculate loan payments and see how extra payments save money. Mortgage, auto, student loans.
Monthly Payment
$1,580.17
Total Interest
$318,861.22
Total Paid
$568,861.22
Payoff Time
30y 0m
Amortization Schedule
| # | Date | Payment | Principal | Interest | Balance |
|---|---|---|---|---|---|
| 1 | Mar 2026 | $1,580.17 | $226.00 | $1,354.17 | $249,774.00 |
| 2 | Apr 2026 | $1,580.17 | $227.23 | $1,352.94 | $249,546.77 |
| 3 | May 2026 | $1,580.17 | $228.46 | $1,351.71 | $249,318.31 |
| 4 | Jun 2026 | $1,580.17 | $229.70 | $1,350.47 | $249,088.61 |
| 5 | Jul 2026 | $1,580.17 | $230.94 | $1,349.23 | $248,857.67 |
| 6 | Aug 2026 | $1,580.17 | $232.19 | $1,347.98 | $248,625.48 |
| 7 | Sep 2026 | $1,580.17 | $233.45 | $1,346.72 | $248,392.04 |
| 8 | Oct 2026 | $1,580.17 | $234.71 | $1,345.46 | $248,157.32 |
| 9 | Nov 2026 | $1,580.17 | $235.98 | $1,344.19 | $247,921.34 |
| 10 | Dec 2026 | $1,580.17 | $237.26 | $1,342.91 | $247,684.07 |
| 11 | Jan 2027 | $1,580.17 | $238.55 | $1,341.62 | $247,445.53 |
| 12 | Feb 2027 | $1,580.17 | $239.84 | $1,340.33 | $247,205.69 |
Why Use This Amortization Calculator?
Extra Payment Analysis
See exactly how much time and interest you save with extra monthly payments.
Full Payment Schedule
View every payment for your entire loan term with principal/interest breakdown.
Interest Savings
Calculate total interest savings from making extra payments toward principal.
Export to CSV
Download your complete amortization schedule for Excel or Google Sheets.
Multiple Loan Types
Pre-configured for mortgages, auto loans, student loans, and personal loans.
High-Precision
Bank-grade calculations you can trust for financial planning.
How Extra Payments Save You Money
| Loan Amount | Extra/Month | Time Saved | Interest Saved |
|---|---|---|---|
| $250,000 @ 6.5% | $100 | 3 years, 4 months | $47,000+ |
| $250,000 @ 6.5% | $200 | 6 years | $78,000+ |
| $250,000 @ 6.5% | $500 | 11 years | $130,000+ |
| $35,000 @ 7.5% | $50 | 6 months | $650+ |
| $50,000 @ 5.5% | $100 | 1 year, 8 months | $2,800+ |
*Based on 30-year mortgage or standard loan terms. Actual savings vary by rate and term.
Understanding Loan Amortization
Amortization is the process of spreading loan payments over time. Each monthly payment includes both principal (the amount borrowed) and interest (the cost of borrowing).
The Amortization Formula
Where M = monthly payment, P = principal, r = monthly interest rate, n = number of payments.
Why Early Payments Save More
In the early years of a loan, most of your payment goes to interest. By making extra payments early, you reduce the principal faster, which means less interest accrues over the remaining term. This is why even small extra payments can save tens of thousands of dollars over a 30-year mortgage.
Frequently Asked Questions
What is an amortization schedule?
An amortization schedule is a table showing each loan payment broken down into principal and interest, along with the remaining balance. It shows exactly how your debt decreases over time.
How do extra payments save money?
Extra payments go directly to your principal balance. This reduces interest accrual, shortens your loan term, and can save thousands in total interest paid.
Should I pay extra on my mortgage?
Generally yes, if you have no higher-interest debt. Even $100/month extra on a $250,000 mortgage can save $47,000+ in interest and pay off 3+ years early.
How is monthly payment calculated?
Using the formula: M = P × [r(1+r)^n] / [(1+r)^n – 1], where P is principal, r is monthly rate, and n is total payments.
Can I download my schedule?
Yes! Click 'Download Schedule' to get a CSV file you can open in Excel or Google Sheets.
Does this work for car loans?
Yes! This calculator works for any fixed-rate amortizing loan including mortgages, auto loans, student loans, and personal loans.
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