Mortgage Amortization Calculator
See exactly how your mortgage is paid off month by month — principal, interest, and balance.
How Mortgage Amortization Works
Your monthly payment stays the same, but the split between interest and principal shifts every month. With a $280,000 loan at 7.25% for 30 years, your first payment of ~$1,910 is about $1,692 interest and $218 principal. By payment 360, it's nearly all principal.
What an Amortization Schedule Shows
An amortization schedule lists every monthly payment over the life of a loan and splits each one into interest and principal. Early on, most of your payment goes to interest because the balance is large; over time the balance shrinks and more of each payment chips away at the principal. By the final payment, almost all of it is principal.
Why It Matters
Seeing the breakdown explains two things that surprise borrowers: how much total interest you pay over 25–30 years, and how powerful extra payments are early in the loan. An extra payment in year one removes principal that would otherwise accrue interest for decades. The loan payoff calculator shows exactly how much time and interest extra payments save.
Reading Your Schedule
Each row shows the payment number, the interest and principal portions, and the remaining balance. Use it to plan overpayments, compare loan terms, or check a lender's figures against your own.