Amortization Schedule Calculator

About Amortization Schedule Calculator

An amortization schedule is a loan's autobiography: every payment identical, every payment internally different — month one of the default $250,000 at 6.5% sends $1,354 to interest and just $226 to principal; the 50/50 CROSSOVER doesn't arrive until deep in the term (month ~232 here, year 19 of 30), and the final payments are nearly all principal. The schedule above shows the whole arc year by year. Reading it changes decisions: the interest-heavy early years are why prepayments are most powerful at the start (the EXTRA field shows it live — $200/month extra at the defaults kills ~5+ years and saves tens of thousands), why refinancing late in a term often disappoints (the interest was already paid), and why selling a house after 5 years builds less equity than homeowners expect (check year-5's balance column). The crossover month is the schedule's most underrated number — a psychological and financial milestone (before it, your payment mostly rents money; after, it mostly buys the asset), and extra payments PULL it closer: the $200 extra moves crossover years earlier. Practical uses beyond mortgages: car loans (compare the payoff column against depreciation curves for underwater-risk windows), student loans (servicer 'paid ahead' games versus true principal application), and any loan where you want to verify a lender's payoff quote against independent math — this table is the audit.

How to use Amortization Schedule Calculator

1. 1Enter Loan amount, Interest rate (%), Term (years), Extra payment per month into the Amortization Schedule Calculator.
2. 2The result is computed automatically using Each payment first covers the month's interest (balance × rate ÷ 12); the remainder reduces principal — the split flips slowly, then suddenly — there is no button to press; it updates live as you type.
3. 3Change any input to model a different scenario, then use “Copy result link” to share the exact numbers.

Why use Amortization Schedule Calculator?

• ✓Computes amortization schedule calculator instantly with the correct formula — no spreadsheet needed
• ✓100% free and unlimited, with no sign-up, login or paywall
• ✓Runs entirely in your browser, so the figures you enter are never uploaded or stored
• ✓Shows the formula, a live worked example and references so you can defend the number

Frequently asked questions

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