Mortgage Amortization Calculator
See your monthly mortgage payment and a full year-by-year amortization schedule. Enter the home price, down payment, rate, and term.
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $3,577 | $20,695 | $316,423 |
| 2 | $3,816 | $20,455 | $312,607 |
| 3 | $4,072 | $20,200 | $308,535 |
| 4 | $4,345 | $19,927 | $304,191 |
| 5 | $4,636 | $19,636 | $299,555 |
| 6 | $4,946 | $19,325 | $294,609 |
| 7 | $5,277 | $18,994 | $289,332 |
| 8 | $5,631 | $18,641 | $283,701 |
| 9 | $6,008 | $18,264 | $277,693 |
| 10 | $6,410 | $17,861 | $271,283 |
| 11 | $6,839 | $17,432 | $264,444 |
| 12 | $7,297 | $16,974 | $257,146 |
| 13 | $7,786 | $16,485 | $249,360 |
| 14 | $8,308 | $15,964 | $241,053 |
| 15 | $8,864 | $15,407 | $232,189 |
| 16 | $9,458 | $14,814 | $222,731 |
| 17 | $10,091 | $14,180 | $212,640 |
| 18 | $10,767 | $13,505 | $201,873 |
| 19 | $11,488 | $12,784 | $190,385 |
| 20 | $12,257 | $12,014 | $178,128 |
| 21 | $13,078 | $11,193 | $165,050 |
| 22 | $13,954 | $10,317 | $151,096 |
| 23 | $14,889 | $9,383 | $136,207 |
| 24 | $15,886 | $8,386 | $120,321 |
| 25 | $16,950 | $7,322 | $103,372 |
| 26 | $18,085 | $6,187 | $85,287 |
| 27 | $19,296 | $4,976 | $65,991 |
| 28 | $20,588 | $3,683 | $45,403 |
| 29 | $21,967 | $2,304 | $23,436 |
| 30 | $23,436 | $833 | $0 |
Principal & interest only. Excludes property tax, homeowners insurance, PMI, and HOA dues.
How to use this calculator
Enter the home price, your down payment, the interest rate, and the term in years. You'll get your monthly principal-and-interest payment, the loan amount, total interest, and a year-by-year breakdown of how the balance falls.
How mortgage amortization works
A fixed-rate mortgage is amortized so the payment stays constant while the split between interest and principal shifts over time. Because interest is charged on the outstanding balance, paying down principal early reduces all the interest that would have accrued afterward.
Worked example
A $400,000 home with $80,000 down leaves a $320,000 loan. At 6.5% over 30 years, the payment is about $2,023/month and total interest exceeds $408,000 over the full term.
The formula
Payment = P · [ r(1 + r)n ] / [ (1 + r)n − 1 ], with monthly rate r and n monthly payments.
Frequently asked questions
What is a mortgage amortization schedule?
It's a table showing every monthly payment over the life of your loan, split into principal and interest, with the remaining balance after each payment. Early payments are mostly interest; later ones are mostly principal.
How much of my early payments goes to interest?
On a 30-year loan, the first years are heavily interest because interest is charged on a large balance. As the balance shrinks, more of each payment goes to principal.
Does this include taxes and insurance?
No. This shows principal and interest only. Your full monthly payment may also include property tax, homeowners insurance, PMI, and HOA fees (often bundled as 'PITI').
How can I pay off my mortgage faster?
Extra principal payments, biweekly payments, or refinancing to a shorter term all cut total interest. Even a small monthly addition can save tens of thousands over 30 years.