Amortization Calculator - Detailed Loan Payoff Schedule
Generate a complete amortization schedule for your mortgage or loan. See how your monthly payments are split between principal and interest over time.
Amortization Calculator - Detailed Loan Payoff Schedule
Generate a complete amortization schedule for your mortgage or loan. See how your monthly payments are split between principal and interest over time.
Understanding Amortization
Amortization is the process of spreading out a loan into a series of fixed payments. While each payment is the same, the portion that goes to interest vs. principal changes over time.
Financial Clarity
Seeing exactly how much of each payment goes toward interest versus principal helps you make informed decisions about refinancing or early repayment.
Amortization Formula
A = P [ i(1 + i)^n ] / [ (1 + i)^n – 1 ]Where A is the monthly payment, P is the principal, i is the monthly interest rate, and n is the total number of payments.
Loan Scenarios
Long-term Mortgage
A 30-year fixed-rate mortgage starts with mostly interest payments, with principal reduction accelerating in the later years.
Short-term Auto Loan
A 5-year auto loan pays down principal much faster but has higher monthly requirements.
Amortization FAQ
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