Amortization Schedule Calculator — See Your Complete Payment Breakdown
Generate a complete amortization schedule showing principal and interest breakdown for every payment. Works for mortgages auto loans and personal loans in 2026.
An amortization schedule is a detailed table showing exactly how each loan payment is split between principal and interest over the entire loan term. In the early years of a mortgage most of your payment goes toward interest. For example on a $300000 30-year mortgage at 7% your first payment of $1996 allocates $1750 to interest and only $246 to principal. Understanding this schedule helps you make smarter decisions about extra payments refinancing and prepayment strategies.
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Key Information
| Parameter | Details |
|---|---|
| 30yr Mortgage Interest Allocation | First year 88% goes to interest |
| 15yr vs 30yr Total Interest | $300K loan saves $200K+ |
| Extra Payment Impact | $100/month saves $50K+ on 30yr |
| Halfway Point for Principal | Year 19-20 on a 30yr mortgage |
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Use Calculator NowFrequently Asked Questions
Why does so much go to interest at first?
Loan amortization is front-loaded with interest because interest is calculated on the outstanding balance. When your balance is highest your interest charge is highest. As you pay down the principal each month the interest portion shrinks and more goes to principal. This is why making extra payments early in the loan has the biggest impact on total interest saved.
Should I make extra mortgage payments?
Making even one extra mortgage payment per year can save tens of thousands in interest and shave 4-5 years off a 30 year mortgage. Paying an extra $200 monthly on a $300000 mortgage at 7% saves approximately $117000 in total interest and pays off the loan 8 years early. Check that your lender applies extra payments to principal not future payments.
What is negative amortization?
Negative amortization occurs when your monthly payment is less than the interest due causing unpaid interest to be added to your loan balance. Your balance actually grows over time instead of shrinking. This can happen with certain adjustable rate mortgages or payment option ARMs. Avoid loans with negative amortization potential as they can lead to owing more than your home is worth.
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Last updated: 24 March 2026