PLAN YOUR HOME PURCHASE
Amortization calculator
Explore your loan repayment schedule and see how extra principal payments change your payoff date and total interest. All amounts are in U.S. dollars.
Monthly principal & interest
Your balance over time
The schedule below gives the exact estimated amounts for each period.
Repayment schedule
| Period | Payments | Principal | Interest | Balance |
|---|
How to use your estimate
Enter the amount borrowed, fixed annual interest rate, loan term, and first payment month. Add an extra monthly principal payment to compare interest costs and payoff time with the original schedule. The last payment is capped at the amount still owed.
This schedule covers principal and interest only. Property taxes, insurance, HOA fees, closing costs, and prepayment penalties are excluded. Check how your servicer applies extra payments and whether your loan has a prepayment penalty.
Include taxes and insurance with the mortgage calculator →
Calculation method & assumptions
We use a fixed-rate, fully amortizing loan with monthly payments. The monthly rate is the annual interest rate divided by 12, and the number of payments is the term in years multiplied by 12. At a zero interest rate, the payment is the principal divided by the number of payments. The first payment occurs in the month you select.
Calculations retain precision internally and round displayed amounts to cents, so rounded rows may differ slightly from totals. Your lender's rounding, payment dates, and loan terms may produce different results. This tool does not model adjustable rates, interest-only periods, or Canadian mortgage compounding. Inputs are calculated in your browser and are not saved to your account.
For planning only; this estimate is not a loan offer or an approval decision. Learn more from the CFPB on mortgage repayment and what a monthly mortgage payment includes.