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Mortgage Amortization Calculator
See your complete mortgage amortization schedule month by month. Add extra payments to see how much interest you can save and how many years you can cut from your loan.
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Additional amount toward principal each month
How This Calculator Works
This calculator generates a month-by-month amortization schedule showing how each payment splits between principal and interest. Adding extra payments reduces the principal faster, saving interest and shortening the loan.
Formula: Monthly interest = Remaining Balance × (Annual Rate / 12). Principal portion = Monthly Payment – Monthly Interest. Extra payments are applied directly to principal.
Assumptions & Limitations
- • Fixed interest rate for the entire term.
- • Extra payments are applied monthly and go entirely toward principal.
- • Does not include taxes, insurance, PMI, or HOA.
- • Actual payoff may vary based on exact payment processing dates.