Amortization Calculator

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.

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Your Amortization Summary

Base Calculations

Monthly Principal & Interest Number of Payments Total Payments Original Loan Amount
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Additional amortization information

Amortization Chart

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

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

Your full amortization schedule

Month/Year Payment Amount Interest Paid Principal Paid

Mortgage Balance