Amortization Calculator
See your real monthly payment, what the loan costs in interest, and exactly when it is paid off.
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%
30 yr
months
How to use
- Enter the loan amount, interest rate, and term.
- Read your payment and total interest from the summary card.
- Open Loan options to set the first payment date or switch to biweekly payments.
- Open Extra payments to add money to every payment, once a year, or as a single lump sum. Each one can start in a month you choose and run for a set number of payments instead of lasting the whole loan.
- Switch between Chart and Schedule to see the balance fall or read payment-by-payment detail.
- Export the schedule to CSV if you want to keep it.
Examples
What extra payments do
A $350,000 loan at 6.5% over 30 years costs $2,212 a month and about $446,000 in interest, more than the house.
- +$100/mo: about $63,000 saved, 3.5 years earlier
- +$200/mo: about $108,000 saved, 6 years earlier
- +$500/mo: about $194,000 saved, 11 years earlier
Reading the schedule
- • On a 30-year loan the first payment is mostly interest. At 6.5% it takes until payment 233, over 19 years in, before half of a payment finally goes to principal.
- • The Total cost figure is what you actually hand over: principal plus every dollar of interest.
- • A shorter term raises the payment but cuts total interest sharply. Compare 15 yr against 30 yr with the term buttons.