Monthly Payment
$2,040.18
Total Interest
$200.89
Total Paid
$10,200.89
How it works
The Amortization Schedule Generator produces a complete month-by-month amortization table for any loan — showing the payment date, total payment, principal portion, interest portion, and remaining balance for each payment period. Export the schedule as CSV or PDF.
Amortization schedules are used by homeowners tracking mortgage payoff progress, accountants recording loan interest expense by year, borrowers comparing loan offers, and anyone who wants to understand how their loan works at a mathematical level.
How to use it: enter the loan amount, annual interest rate, loan term (months or years), and start date. Click Generate. The table shows all N payment periods. The first payment has the highest interest portion (paying mostly interest); the last payment is almost entirely principal — this is the fundamental math of amortization.
Key insights from the schedule: - Total interest paid: the sum of the interest column is the true cost of borrowing - Break-even month: where the principal column first exceeds the interest column in a single payment - Equity at any point: subtract remaining balance from original loan to see equity built - Tax-deductible interest: for mortgages, the yearly total of the interest column is the deductible amount for Schedule A
Extra payments: enter extra monthly principal payments to see an accelerated amortization table — the schedule terminates early when the balance reaches zero.
Download: export the schedule as a formatted Excel spreadsheet (.xlsx) or CSV for use in your own financial models.
Privacy: amortization calculations run in the browser.
Frequently Asked Questions
- Monthly interest = remaining balance × (annual rate / 12). Monthly principal = total payment − monthly interest. In the first month of a $300,000 mortgage at 6% with a $1,799 monthly payment: interest = $300,000 × 0.5% = $1,500, principal = $299. In the last month: interest = ~$9, principal = ~$1,790. The amortization schedule shows this shift for every month.
- The break-even month where monthly principal first exceeds monthly interest depends on the interest rate. At 6%, it occurs around month 180 of a 360-month loan (year 15 of 30). At 4%, around month 135. At 8%, around month 220. High-interest mortgages spend a longer portion of their life paying mostly interest.
- On a $300,000 30-year mortgage at 6.5%, one extra full payment per year reduces the loan term by approximately 5 years and saves roughly $55,000 in interest. The extra payment goes entirely to principal, eliminating the future interest that would have accrued on that principal over the remaining loan life.
- Yes. The amortization formula is identical regardless of loan type — enter the loan amount, APR, and term for any installment loan. The schedule shows the same principal/interest breakdown. The only difference is that mortgage interest may be tax-deductible (which is a tax consideration outside the calculator's scope).