Amortization Calculator
Use our Amortization Calculator to determine loan payments and generate an amortization schedule. Enter loan amount, interest rate, and term to view monthly payments, total interest, and remaining balance. Suitable for mortgages and car loans.
Calculate your loan payment schedule with a detailed breakdown of principal and interest payments over time.
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
