Amortization Calculator
Loan Summary
Amortization Schedule
| Payment # | Date | Payment | Principal | Interest | Remaining Balance |
|---|
Key Features of Our Amortization Calculator
Free online amortization calculator helps you understand your loan payments with a complete breakdown of principal and interest over time. Calculate monthly payments, total interest costs, and generate detailed amortization schedules for mortgages, auto loans, personal loans, and more.
- Complete Payment Schedule - See exactly how each payment is split between principal and interest
- Multiple View Options - Switch between detailed monthly schedule or annual summary
- Total Interest Calculation - Understand the true cost of your loan over time
- Loan Comparison - See how different terms and rates affect your payments
- Date-Based Projections - View payment dates and track your payoff progress
- Mobile-Friendly - Works perfectly on all devices
How to Use the Amortization Calculator
Enter Loan Details
Input your loan amount, interest rate, and term. For example: $250,000 mortgage at 4.5% for 30 years.
Set Start Date
Choose when your loan begins to see accurate payment dates in your schedule.
Calculate & Analyze
View your monthly payment amount and explore the detailed amortization schedule.
Compare Scenarios
Adjust the inputs to see how different rates or terms affect your payments and total interest.
Amortization Calculator FAQs
What is an amortization schedule?
An amortization schedule is a complete table of periodic loan payments showing the amount of principal and interest that comprises each payment until the loan is paid off at the end of its term.
Why does my payment stay the same but the interest changes?
With amortizing loans, your payment remains fixed, but the portion going toward interest decreases over time while the portion going toward principal increases - this is the essence of loan amortization.
How can I pay less interest on my loan?
You can reduce total interest by: 1) Getting a lower interest rate, 2) Choosing a shorter loan term, or 3) Making extra principal payments when possible.
What's the difference between interest rate and APR?
The interest rate is the cost to borrow the principal, while APR (Annual Percentage Rate) includes the interest rate plus other loan fees to give you the true cost of the loan.