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Amortization calculator

Use our Amortization calculator to plan your payoff strategy

Understanding how your mortgage is structured can help you plan ahead with confidence. The Amortization calculator shows how each payment is divided between interest and principal, and how your loan balance decreases over time.

You can also adjust the numbers to see what happens when you make extra payments toward your principal. It's a helpful way to explore how paying a little more each month could shorten your loan term and reduce the total interest you pay.

What if I pay extra?

Calculators provided for estimating purposes only.

Consult with your lender to determine precise payment requirements.

Amortization schedule

Est. Monthly Payment:
$2,633
$0.00$100K$200K$300K$400Kyear 0year 3year 6year 9year 12year 15year 18year 21year 24year 27year 30
Loan pay off
Loan pay off with extra payment
Total Principal Paid:
$429,000
Total Interest Paid:
$518,889
Principal & Interest:
$947,889
Months to Pay Off:
360

The results generated by this calculator do not include any Homeowner's Insurance payments, PMI, or other fees and costs, and the results are for educational purposes only and not guaranteed. Such results are meant only as a general guideline for the user and should not be relied upon in connection with any particular transaction or situation. If you plan to purchase a home, we recommend you consult with a mortgage professional for a more thorough analysis of your current situation.

Q&A: Understanding the Amortization calculator

Amortization refers to how your loan is paid off over time through regular monthly payments. Each payment includes a portion that goes toward interest and a portion that reduces your principal balance.
Extra payments go directly toward your principal balance. This reduces the amount of interest you'll pay over time and can shorten the length of your loan. Even small additional payments can make a noticeable difference in how quickly you pay off your mortgage.

Each field in the Amortization calculator helps build a clearer picture of how your mortgage is paid off over time. The loan amount is the total you borrowed. The interest rate is what your lender charges annually to finance the loan. The loan term is how many years you'll take to repay it. The start date is when your loan began, which helps calculate your payment timeline.

If you want to see how making extra payments could impact your loan, you can enter an additional monthly amount toward your principal. This shows how paying a little more each month could reduce your total interest and help you pay off your mortgage faster.