Amortization Calculator

If you have a fixed-rate loan—a mortgage, auto loan, or personal loan—you have an amortization schedule. Most borrowers never see it, and that costs them money. Our Amortization Calculator generates a complete, downloadable, and printable schedule that shows every single payment from loan start to payoff. You will see exactly where your money goes, how much interest you are wasting, and how extra payments supercharge your equity growth.

Why You Need to See Your Amortization Schedule

There is a shocking truth about amortized loans: In the first five years of a 30-year mortgage, over 80% of your monthly payment goes to interest, not principal. On a $300,000 loan at 6%, you will pay almost $90,000 in interest before you pay $30,000 in principal. Seeing this breakdown often motivates borrowers to refinance or make extra principal payments. Our visual "interest vs principal" chart makes this concept instantly understandable.

The Extra Payment Strategy: How to Save Thousands

Making just one extra principal payment per year can cut your loan term by 4-6 years and save you tens of thousands in interest. Our calculator has a dedicated "Extra Payment" tab. Input an extra $100 per month, or a one-time annual lump sum of $1,000. The tool recalculates the entire schedule, showing:

• Your new payoff date (e.g., from 360 months to 298 months)
• Total interest saved (e.g., $47,231 saved)
• The month when the "interest/principal" crossover point shifts earlier

Bi-Weekly Payment Strategy

Switching from monthly to bi-weekly payments effectively adds one extra monthly payment per year (since 26 half-payments = 13 full payments). This is a painless way to accelerate payoff without feeling the pinch of a large lump sum. Our calculator includes a "Bi-Weekly" toggle that instantly recalculates the amortization schedule.

Understanding Negative Amortization

Some exotic loans (e.g., option ARMs) allow for negative amortization, where your payment is less than the accrued interest, causing your loan balance to grow. Our calculator includes a warning system: if you attempt to enter a payment lower than the interest due, we flag "Negative Amortization Risk" and calculate the new growing balance.

FAQ: Amortization Calculator

Amortization Calculator is optimized for fast browser-based use, so you can test multiple scenarios in seconds.