Amortization Calculator
Calculate loan amortization, payment amount, total interest, payoff date, and a month-by-month balance schedule.
Calculator updated
Use this page to get the result quickly, then review the formula, table, chart, or example for context.
- Build a month-by-month loan schedule
- See principal versus interest
- Estimate payoff impact from extra payments
- Formula, example, and related calculators
Formula
Payment = P * r / (1 - (1 + r)^-n). Each payment is split between interest and principal.
Example
A 250,000 loan at 6% for 30 years has an estimated monthly payment of about 1,499 before fees or taxes.
When to Use
- Build a month-by-month loan schedule
- See principal versus interest
- Estimate payoff impact from extra payments
Common Mistakes
- Ignoring fees and escrow
- Comparing different payment frequencies without converting rates
- Rounding each month manually
Fast Result
The calculator updates from your inputs and keeps the result easy to copy, print, or save locally.
Transparent Formula
The formula and example show how the result is built, so the page is useful beyond a single calculation.
Related Next Steps
Use the related links to move from estimate to comparison, payoff, conversion, or planning.
How this amortization calculator works
Calculate loan amortization, payment amount, total interest, payoff date, and a month-by-month balance schedule.
Enter the values you know, review the primary result, then use the table or chart to understand the details. The result is an estimate and should be checked against professional advice when money, medical, tax, legal, or engineering decisions are involved.
Frequently Asked Questions
What does an amortization schedule show?
It shows how each payment is divided between interest and principal and how the remaining loan balance changes over time.
How do extra payments affect amortization?
Extra principal payments can reduce the balance faster, shorten the payoff timeline, and reduce total interest, depending on the loan terms.
Why is more of the early payment interest?
Interest is calculated from the outstanding balance, which is highest near the start of a standard amortizing loan.
Can I compare monthly and biweekly payments?
Yes. Choose the payment frequency and compare the resulting schedule, while confirming your lender uses the same payment and interest conventions.