Amortization Calculator
View your complete mortgage amortization schedule month by month. See exactly how much of each payment goes to principal vs. interest. Free amortization table.
Reviewed for accuracy by Marcus Webb and the Blueprint Dynamics editorial team (last updated July 2026). Our calculators use primary-source formulas and are cross-checked against IRS publications, Fannie Mae guidelines, and Federal Reserve data. Learn more about our methodology.
Source: Federal Reserve, Freddie Mac, Bankrate national averages. Rates are approximate ranges for borrowers with good credit (700+). Actual rates depend on your credit score, loan-to-value ratio, and lender.
Amortization Schedule
See how every payment splits between principal and interest over the life of your loan.
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Year-by-year breakdown
What an amortization schedule shows
An amortization schedule is a complete month-by-month breakdown of every payment over the life of your loan, showing exactly how much of each payment goes to principal (reducing your balance) versus interest (paying the lender for the use of the money). Your monthly payment stays the same throughout a fixed-rate loan, but the split between principal and interest shifts dramatically over time — from mostly interest at the start to mostly principal near the end.
How the interest-to-principal split works
Each month's interest charge is: (remaining loan balance) × (monthly interest rate). On a 30-year $400,000 loan at 7%, your monthly payment is $2,661. In month one, interest is $400,000 × (7%/12) = $2,333. Only $328 reduces your balance. By month 180 (year 15), your balance has dropped to roughly $305,000, so interest is $1,779 and principal is $882. By month 300 (year 25), principal is $1,500 and interest only $1,161. The schedule makes this progression visible for every single payment.
Impact of extra payments
Because interest is calculated on the remaining balance, any extra payment directly reduces the principal, which reduces every future interest charge for the rest of the loan. On a $300,000 30-year loan at 7%: adding $200/month cuts the payoff time by approximately 5 years and 3 months, saving over $73,000 in interest. The same $200/month invested at 7% would return only about $62,000 over the same 5 years — making extra mortgage payments competitive with investing at equivalent rates, especially after accounting for the guaranteed, risk-free nature of the interest savings.
Common uses of the amortization schedule
Tax planning: mortgage interest is deductible for itemizers. The schedule shows your exact interest paid each calendar year, which you need to verify your Form 1098. Equity tracking: the schedule shows your loan balance at any point, which is key for understanding when you hit 80% LTV (to cancel PMI) or 20% equity (to qualify for a HELOC). Refinancing decisions: compare your current amortization curve to what a new loan would look like, and visualize exactly how much equity-building progress you'd lose by restarting the clock. Early payoff planning: determine what lump-sum payment or monthly addition is needed to pay off by a specific date.
The cost of front-loading vs. back-loading extra payments
A dollar of extra principal paid in month 1 saves more interest than the same dollar paid in month 300, because it eliminates interest on that principal for all the remaining months. A $5,000 lump-sum extra payment in year 1 of a 30-year 7% loan saves approximately $25,000 in total interest. The same $5,000 paid in year 20 saves only about $6,000. The earlier in the loan you make extra payments, the greater the compounding benefit — which is why a disciplined extra-payment strategy in years 1–5 is especially powerful.