Amortization calculator

Amortization Calculator

Calculate your loan payments and create an amortization schedule with our Amortization Calculator. Input your loan amount, interest rate, and term to see detailed monthly payments, total interest paid, and remaining balance over time. Perfect for mortgages, car loans, and any amortizing loans.

Calculate your loan payment schedule with a detailed breakdown of principal and interest payments over time.

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Amortization Schedule
Monthly Payment

Total of All Payments

Total Interest

Loan Payoff Date

Payment Schedule
Payment # Payment Date Payment Amount Principal Interest Extra Payment Remaining Balance
Understanding Amortization
  • Early payments go mostly to interest
  • Extra payments reduce principal faster
  • Interest is calculated on remaining balance
  • Payment amount stays constant
  • Principal portion increases over time
Smart Loan Tips
  • Make extra payments to reduce total interest
  • Consider bi-weekly payments
  • Round up your payments
  • Make one extra payment annually
  • Check for prepayment penalties

Amortization FAQs

Loan amortization is:- A fixed repayment schedule- Gradually paying off debt- Combination of principal and interest- Fixed monthly payments- Declining interest over time

Benefits of extra payments:1. Reduce total interest paid2. Shorten loan term3. Build equity faster4. Save money long-term5. Earlier loan payoff

Early payment structure:1. Based on remaining balance2. Higher initial interest portion3. Gradually shifts to principal4. Interest calculated monthly5. Follows standard amortization

Payment factors:- Loan amount- Interest rate- Loan term- Payment frequency- Extra payments

Strategies for faster payoff:1. Make extra payments2. Use bi-weekly payments3. Round up payments4. Apply windfalls to principal5. Avoid payment holidays