Amortization Schedule Calculator
Generate a full loan amortization schedule showing yearly principal, interest, and remaining balance for any loan or mortgage.
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Frequently asked questions
- What is an amortization schedule?
- An amortization schedule is a table showing how each payment on a loan splits between principal and interest over time, and how the balance falls to zero. This calculator summarizes it year by year for any loan or mortgage.
- Why is early interest so high?
- With amortizing loans, interest is charged on the outstanding balance, which is largest at the start. So early payments are mostly interest and little principal. As the balance drops, more of each payment goes to principal. The yearly table makes this shift visible.
- How is the monthly payment determined?
- The payment uses the standard amortization formula from your loan amount, monthly interest rate, and number of months, producing a fixed payment that fully pays off the loan by the end of the term.
- Can I use this for a mortgage, car loan, or personal loan?
- Yes. Any fixed-rate amortizing loan works: enter the amount, annual interest rate, and term in years. The schedule applies to mortgages, auto loans, student loans, and personal loans alike.
- Does it include taxes, insurance, or fees?
- No. The schedule covers principal and interest only. For a mortgage, property tax, insurance, PMI, and HOA are separate; use a mortgage calculator for the full monthly housing cost.