Amortization Schedule Calculator
See exactly how each payment splits between principal and interest.
Monthly payment:
Total interest:
Amortization schedule
| Payment | Principal | Interest | Balance |
|---|
How to use this calculator
Enter the loan amount, rate and term, choose a yearly or monthly view, and press Generate. The table shows every payment's split between principal and interest plus the running balance.
Worked example
On a $250,000 mortgage at 5.5% for 30 years, the payment is about $1,420 a month. Early on, most of each payment is interest - after 10 years of on-time payments the balance has only dropped from $250,000 to about $206,000, because roughly $170,000 of the money paid went to interest. The schedule shows this month by month.
What the result means
The payment stays fixed but the split changes every month: the interest share shrinks and the principal share grows. Knowing where you are on that curve explains why paying extra early is so powerful and why refinancing late in a loan mostly restarts the expensive part.
Reading your schedule
- The early rows are interest-heavy - most of your payment is not building equity yet.
- The crossover point, usually halfway through the term, is when principal finally exceeds interest.
- Extra principal payments early skip the highest-interest months and shorten the tail dramatically.
Frequently asked questions
Why is the balance still so high after 10 years?
Because amortization front-loads interest. It is not a mistake - the lender is paid for risk first, and equity builds faster in the second half of the loan.