Amortization Schedule Generator
Produces a full month-by-month payment table for any loan with principal and interest split
Total amount borrowed
Yearly interest rate on the loan
Total number of monthly payments
Fixed payment due each month
Total interest paid over the life of the loan
Principal plus all interest payments
Frequently Asked Questions
What is an amortization schedule?
An amortization schedule is a table showing each loan payment broken into principal and interest portions over the life of the loan. Early payments are mostly interest; later payments are mostly principal. It shows exactly how much you owe after each payment.
Why do I pay more interest at the beginning of a loan?
Interest is calculated on the outstanding balance. At the start, you owe the full amount so interest is highest. As you pay down principal, less interest accrues each month. A $300,000 mortgage at 7% has about $1,750 in interest the first month but only $13 in the last month.
How much interest can I save by making extra payments?
Extra payments go directly to principal, reducing future interest. On a $300,000 30-year mortgage at 7%, paying just $200 extra per month saves about $108,000 in interest and pays off the loan 7 years early. The earlier you start extra payments, the greater the savings.
Related Calculators
Biweekly Pay Calculator
Calculates biweekly gross and net pay from annual salary or hourly rate
Pay Period Converter
Converts pay amounts between weekly, biweekly, semi-monthly, monthly, and annual periods
Age Calculator
Computes exact age in years, months, and days from a birth date to any target date
Annuity Calculator
Estimates future value of regular payments or the payment needed to reach a savings goal