Amortization calculator
Every mortgage payment is split between principal and interest, and that split changes every single month. This calculator lays out the full year by year schedule so you can see exactly where your money goes.
| Year | Principal | Interest | Balance |
|---|---|---|---|
| Yr 1 (2026) | $3,410 | $21,496 | $316,590 |
| Yr 2 (2027) | $3,648 | $21,258 | $312,942 |
| Yr 3 (2028) | $3,902 | $21,004 | $309,040 |
| Yr 4 (2029) | $4,174 | $20,733 | $304,866 |
| Yr 5 (2030) | $4,464 | $20,442 | $300,402 |
| Yr 6 (2031) | $4,775 | $20,131 | $295,627 |
| Yr 7 (2032) | $5,107 | $19,799 | $290,520 |
| Yr 8 (2033) | $5,463 | $19,443 | $285,057 |
| Yr 9 (2034) | $5,843 | $19,063 | $279,213 |
| Yr 10 (2035) | $6,250 | $18,656 | $272,963 |
| Yr 11 (2036) | $6,685 | $18,221 | $266,278 |
| Yr 12 (2037) | $7,151 | $17,755 | $259,127 |
| Yr 13 (2038) | $7,649 | $17,257 | $251,478 |
| Yr 14 (2039) | $8,181 | $16,725 | $243,296 |
| Yr 15 (2040) | $8,751 | $16,155 | $234,545 |
| Yr 16 (2041) | $9,360 | $15,546 | $225,185 |
| Yr 17 (2042) | $10,012 | $14,894 | $215,173 |
| Yr 18 (2043) | $10,709 | $14,197 | $204,463 |
| Yr 19 (2044) | $11,455 | $13,451 | $193,008 |
| Yr 20 (2045) | $12,253 | $12,654 | $180,756 |
| Yr 21 (2046) | $13,106 | $11,800 | $167,650 |
| Yr 22 (2047) | $14,018 | $10,888 | $153,632 |
| Yr 23 (2048) | $14,994 | $9,912 | $138,638 |
| Yr 24 (2049) | $16,038 | $8,868 | $122,600 |
| Yr 25 (2050) | $17,155 | $7,751 | $105,445 |
| Yr 26 (2051) | $18,349 | $6,557 | $87,095 |
| Yr 27 (2052) | $19,627 | $5,279 | $67,468 |
| Yr 28 (2053) | $20,994 | $3,912 | $46,474 |
| Yr 29 (2054) | $22,455 | $2,451 | $24,019 |
| Yr 30 (2055) | $24,019 | $887 | $0 |
$427,185 total interest over 30 years
Over 30 years you will pay $427,185 in interest, about 133% on top of the $320,000 you borrowed. Principal overtakes interest as the bigger part of your payment in year 21, that is when each payment starts building more equity than it spends on the loan itself.
- •Extra principal early in the loan does the most work, since every mortgage is front loaded toward interest, a dollar off the balance in year one saves more than the same dollar in year twenty.
- •Splitting your payment in two every two weeks instead of once a month adds up to one extra full payment a year without it feeling like a separate bill.
- •Rounding your payment up to the next $50 or $100 is a small, easy habit that quietly shortens the loan over time.
- •If rates have dropped or your credit has improved since closing, refinancing to a shorter term trades a higher payment for a lot less total interest, worth a real comparison, not just a guess.
A free account keeps your numbers ready across every calculator, no re entering them each time.
How this calculator works
- Step 1Enter your loan
Amount, rate, and term.
- Step 2See the yearly schedule
Principal paid, interest paid, and remaining balance, for every year of the loan.
- Step 3Watch the crossover
A chart showing exactly when principal overtakes interest as the bigger piece of your payment.
Frequently asked questions
What is a mortgage amortization schedule?
It is the full breakdown of every payment over the life of a loan, showing how much goes toward interest versus principal each period, and what balance remains afterward. Because interest is calculated on the remaining balance, the split shifts every single payment, even though your total payment stays the same.
Why do early mortgage payments go mostly toward interest?
Interest is charged on whatever balance remains, and early on that balance is at its highest, so the interest portion of each payment is largest right at the start. As the balance shrinks over time, less of each payment is needed for interest, and more goes toward principal.
Does making extra payments change the amortization schedule?
Yes significantly, extra principal payments reduce the balance faster than scheduled, which lowers future interest charges and can noticeably shorten the loan. The extra mortgage payments calculator shows that specific comparison against this standard schedule.
Why does my ending balance not match what I expected?
A schedule calculated from your original loan terms will not reflect any extra payments, a rate change from an adjustable loan, or a past refinance, all of which shift the real balance. This calculator shows the schedule as originally agreed, compare it against your latest mortgage statement for your true current balance.
How can I use this schedule to plan ahead?
Looking a few years out shows roughly how much equity you will have built through paydown alone, useful for planning a future refinance, a home equity loan, or simply understanding how a sale in year five versus year fifteen would look financially.
More calculators
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See whether paying for a lower rate upfront actually pays off, and when.
Your estimated monthly payment, broken into principal, interest, tax, and insurance.
Every number on this page is a planning estimate, for informational and educational purposes only, not professional advice.
Before you act on any major decisions, consult a qualified accountant, tax advisor, or financial advisor who knows your full picture.