Calculators

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Amortization

Amortization is the gradual reduction of a debt over a given period. Our amortization calculator will amortize (show the reduction) your debt (such as a mortgage) and display your payment breakdown of interest paid, principal paid, and loan balance over the life of the loan.

It comes as a surprise to some that most of your initial payments on a loan are used to pay interest. For example, in a 30-year mortgage over 83% of your payments are used to pay down interest in the first year, while only 3% of your payments are used to pay down interest in the final year. This is the primary reason why little equity is built in the first few years of a mortgage.

1 Loan Amount $
2 Interest Rate %
3 Number of Years
Calculate

Your Amortization Summary

Total Interest Paid Monthly Principal & Interest Number of Payments Total Payments
Base Calculations - - -
Original Loan Amount
Use calculator above
to find loan amount needed

Additional Amortization Information

Loan Amortization Chart

This chart illustrates how balances decrease over time for a fixed rate mortgage.

Principal Payment Chart

This chart shows how payments are split between principle and interest payments over time.

Your full amortization schedule

Month/Year Payment Amount Interest Paid Principal Paid   Mortgage Balance
Use calculator above to see your full amortization schedule