Amortization Schedule Calculator
Use our free Amortization Schedule Calculator to quickly estimate monthly loan payments and view a full breakdown of principal vs. interest over the loan term. Perfect for borrowers, homeowners, and financial planners.
Amortization Formula
Understanding this formula reveals how lenders structure loan payments and how your interest cost decreases over time. Early in a loan, most of your payment goes toward interest; later, more applies to principal. This shifting balance affects how quickly equity builds and how much total interest you’ll pay. Seeing this pattern helps you identify when to make extra payments, refinance strategically, or shorten your loan term to save money. The Amortization Schedule Calculator instantly automates this math, displaying your complete repayment timeline without spreadsheets or financial software.
How this amortization schedule calculator works
This calculator builds your full loan payoff schedule from your key inputs. It uses your loan amount, interest rate, and term to calculate monthly payments, then itemizes each one into principal and interest portions.
Here’s what it considers:
By adjusting each variable, you can instantly see how rate changes or extra payments reduce interest and shorten your loan term.
When to use this amortization schedule calculator
Use this calculator any time you need a transparent loan breakdown or want to plan smarter payoff strategies.
Before taking a loan: Understand the true long-term cost and payment structure.
When comparing loan offers: See how rate or term differences affect total interest.
To test extra payments: Check how even small overpayments reduce total loan time.
During refinancing: Compare your old and new amortization timelines side by side.
For investment analysis: Model mortgage or business loan performance for better ROI planning.
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Average Loan Terms and Interest Rates
Use these common benchmarks to evaluate how your loan compares to typical market rates and repayment periods.
Average 30-year fixed mortgage rate
Average 15-year mortgage rate
Average auto loan (new)
Average personal loan
Average business term loan
These benchmarks help borrowers determine whether their loan offers are fair and identify opportunities for refinancing or early payoff savings.
Frequently Asked Questions
It uses the standard amortization formula for reliable results. Actual payments may vary with fees or rate adjustments.
An amortization schedule is a detailed table showing each loan payment, how much goes to interest and principal, and the remaining balance after each period.
Yes—just enter the loan details for any type of amortized loan.
Yes—add extra payments to see how they reduce interest and shorten the loan.
Yes—enter your loan start date to generate a true month-by-month schedule.
Yes. Extra payments directly reduce principal, shortening your loan term and saving interest over time.
It shows exactly how payments reduce your balance over time, making budgeting and prepayment planning easier.
"Just enter the following details: Loan amount, Annual interest rate, Loan term (in years or months), Payment frequency (monthly, quarterly, etc.). Then click “Calculate” to see your full payment schedule."