Amortization Calculator
See exactly where every payment goes. Enter any fixed-rate loan and get the full year-by-year schedule — the interest/principal split, your total interest, and the crossover year when principal finally starts winning.
Total cost split
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Yearly amortization schedule
How each year of payments splits between interest and principal.
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Get quotesHow amortization works
Each month your lender charges interest on the remaining balance; whatever is left of your payment reduces principal. Because the balance is biggest at the start, early payments are interest-heavy — on a 30-year loan at today’s rates, well over half of your first decade of payments is interest. As the balance shrinks, the split flips: that flip is the crossover year shown above.
How it’s calculated
Payment = P × r ÷ (1 − (1 + r)−n). Each month: interest = balance × r; principal = payment − interest. The crossover year is the first calendar year of the loan where total principal paid exceeds total interest paid.
Results update as you type and are estimates, not professional advice — your servicer’s statement is the number of record.
Amortization by year
Principal & interest only — taxes, insurance, and HOA are on top for mortgages.
Worked example
A $350,000 loan at 6.5% for 30 years runs $2,212.24 a month. Over the full term you pay about $446,406 in interest — more than the original loan — and the crossover year doesn’t arrive until around year 20. Adding $200/month moves it years earlier; the schedule shows exactly where.
Common mistakes
- Reading the schedule as fixed — one extra principal payment rewrites every row after it.
- Confusing a recast (lower payment, same rate) with a refinance (new rate, new schedule).
- Comparing loans by payment while ignoring how much longer one keeps you in the interest-heavy years.
Where it is used
- Seeing the true lifetime interest before signing a loan.
- Planning extra payments around the crossover point.
- Splitting interest vs. principal for taxes or bookkeeping.
Frequently asked questions
Why is so much of my early payment interest?
Interest is charged on the balance you still owe, and early on the balance is at its largest. On a $350,000 loan at 6.5%, the first payment includes about $1,896 of interest and only $316 of principal — the split improves every month as the balance falls.
What is the crossover point?
It's the year when your payments start putting more toward principal than interest. At 6.5% over 30 years that happens around year 20; at lower rates it comes much earlier. The schedule below marks it for your numbers.
Do extra payments lower my monthly bill?
No — on a standard mortgage the required payment stays the same. Extra payments shorten the loan and cut total interest instead. If you want a lower required payment, that's a recast (lump sum + lender re-amortizes) or a refinance.
What's the difference between amortized and interest-only loans?
An amortized loan retires principal with every payment and ends at zero. An interest-only loan charges just interest for a period, so the balance doesn't fall until the interest-only period ends — then payments jump.
Is this schedule the same one my lender uses?
For a fixed-rate, fully amortized loan, yes — the math is standard. Small differences can appear from your exact first-payment date, escrow items, or rounding conventions.