Amortization Calculator

You can use our Calculator to calculate different types of loans like:

• Car Loan
• Student Loan
• Home Loan (Mortgages)
• Home Equity Loan
• Business Loan
• Personal Loan
• Credit Card

Use the Amortization Calculator to calculate the periodic payment amount due on a Loan (usually a mortgage), based on the Amortization process.

Use our Free Calculator to Enter the amount of payment you want to make and calculate your loan amount. Or, enter the Amount of the loan and find out the Monthly Payment Amounts. You can then look at your principal balances by payment, total of all payments made and total interest paid. You can also use Extra Payment Calculator feature to see how they get your loan term short.

No, Use AmortizationChecker’s Free Amortization Calculator with no Sign-Ups or Hidden Fees.

You need to fill the following fields in the above Mortgage Amortization Calculator:

• Start Date (first payment month)
• Loan Amount (total borrowed)
• Interest Rate (annual rate, as a percentage)
• Loan Term (in years)

It determines your Payment Timeline. For example, a July 2025 start date schedules payments on the 1st of each subsequent month.

Use this Amortization Calculator to Enter your desired Payment and calculate your loan amount. You can then examine your principal balances by payment, total of all Installment loans payments made, and total interest paid.

The Calculations follows standard Amortization Formula used by lenders. For precise Figures, Enter your desired Payment details (Interest Rate’s, Loan term’s, etc.) matching your Loan Agreement.

• Principal: Reduces your loan balance.
• Interest: The Cost of Borrowing (goes to the Lender).

Early payments are mostly Interest; over time, more goes toward Principal.

Extra Payments shorten your Loan Term. Even small amounts (e.g., $100/month or roughly £80/month) can cut years off a Mortgage.

The Schedule initially allows you to create a payment table for a loan of 12 months. Click “Load More” button to display additional payments.

Yes, you can download or print the schedule. Use the Download, Email, or Print buttons to:

• Download the Amortization Schedule in CSV, Excel, or Google Sheets format.
• Print the Complete Spreadsheet of Amortization Schedules.
• Save as PDF for easy sharing and future reference.
• Email the Loan Summary directly to your Inbox or another Recipient.

Enter in an Amount and Frequency (Monthly, Quarterly, Half Yearly, Yearly or One-Time). AmortizationChecker’s Mortgage Calculator with Extra Payments will recalculate your Payoff Timeline and total Interest Savings.

• Biweekly Payments can really add up! Because you end up making one extra full payment per year, you’ll pay off your Loan sooner and save on interest.
• Monthly Payment helps break down your Repayment schedule into fixed monthly payments.

Try both Advanced options in the free Loan Calculator to compare how your payoff date and total interest paid change.

The tool models fixed extras at regular intervals. For irregular payments, approximate the payments by taking an average of them every year.

Extra payments pay down your principal quicker, thereby lowering the interest charged throughout the life of the Loan.

The difference between total interest paid with and without extra payments. Basically, "Interest Saved" in the Amortization table do Estimates how much you could possibly Save on Interest.

No, you cannot use this for Adjustable-Rate Loan's (ARMs). Our Amortization Calculation Tool assumes a Fixed Interest Rate.

Some of the lenders tack on a "prepayment penalty" if you pay your loan off ahead of schedule. Our Calculator shows what you save on interest, but always check with your lender to see if a fee applies to your extra payments.

Yes, most lenders will accept extra payments, but check your Loan Terms. Some may Apply Extras to Future Payments unless specified for Principal.

Ensure all entered values are valid. For example:

• Loan Amount: Enter only numbers (e.g., 10000).
• Interest Rate: Input as a percentage (e.g., 5.5, 9.5).
• Loan Term: Specify in years (numeric values only).

Invalid entries may result in Calculation errors.

• Verify the Extra Payment Amount is > 0.
• Try increasing the Amount or Frequency.

1. Change any value and click “Calculate” again. The Schedule updates instantly.
2. You can also click on "Reset" button in order to enter fresh values.

• Higher Frequency: Biweekly/Monthly extras Save More Money than annual payment.
• Early payments: Save the Most Interest by Making Extra Payments Early in the Loan term.

No, your Loan Data is not stored. All Calculations happen in your browser. Nothing is Saved or Shared.

A fixed-rate mortgage keeps the same interest rate for the entire loan term, so every row in your amortization schedule uses identical math. An adjustable-rate mortgage resets the rate at set intervals, which changes how much of each payment goes toward principal versus interest. Our calculator models the fixed-rate scenario; for ARMs, use the initial rate to get a baseline estimate and consult your creditor for the rate-adjustment cap details.

Negative amortization occurs when your payment is less than the interest owed, causing the unpaid interest to be added to the loan balance. This means the debt grows instead of shrinking. It's most common with certain adjustable-rate mortgage products that cap payments at a level below the accruing interest rate. If your loan terms include this risk, use the amortization calculator to model the worst-case balance growth and consider refinancing into a fixed-rate product.

Yes. Enter the terms of your current mortgage to generate an estimated amortization schedule, then run a second calculation with the proposed new loan terms. Compare the total interest paid, monthly payment, and payoff date side by side. Refinancing makes sense when the interest savings outweigh the closing fees and the cost of the loan overall drops. Our loan calculator makes this comparison quick and visual.

The amortization schedule focuses on principal and interest, but your actual housing expense also includes property taxes and homeowners insurance, often collected through an escrow account. Depending on your location, property tax alone can add hundreds to your payment. Factor these into your budget alongside the calculator results to get the true monthly cost of owning your property.

In everyday finance, amortization usually refers to loan repayment. In accounting, it also means spreading the cost of intangible assets such as patents or goodwill over their useful life. Depreciation is the parallel concept for tangible assets like equipment. Both follow the same mathematics: allocating an expense over time. Understanding this distinction can help you manage personal finance issues and business books with equal confidence.

A larger down payment reduces the starting loan amount, which lowers both the monthly payment and the total interest paid across the life of the loan. It also increases your initial equity in the property and may eliminate the need for private mortgage insurance. Plug different down payment amounts into the calculator to find the sweet spot where your budget and your investment goals align.