Finance tools
Amortization schedule calculator
Free amortization schedule calculator, loan amortization calculator, and mortgage amortization calculator for fixed-rate loans. Enter loan amount, interest rate, and term to see your monthly payment, principal vs interest split, and a full loan amortization table you can print or export. Model extra payments, spot the principal crossover, and download a printable amortization schedule as CSV or PDF — no sign-up.
What this amortization schedule calculator does
This loan amortization calculator (also called an amortization schedule generator) builds a month-by-month amortization schedule for fixed-rate principal-and-interest loans — mortgages, auto loans, and personal loans. Enter the loan amount, annual interest rate, and term to see your monthly payment, total interest, payoff date, and a scrollable table showing how each payment splits between principal and interest.
Add optional extra payments to see interest and time saved. For growth math on savings instead of debt, try the compound interest calculator or percentage calculator. For car price, trade-in, and sales tax, use the auto loan calculator.
Monthly payment
Standard fixed-rate P&I payment using the amortization formula — same math lenders use for mortgages, auto, and personal loans.
Full schedule table
Paginated month-by-month rows with principal, interest, balance, and cumulative interest — plus annual rollups.
Extra payments & export
Model recurring or one-time prepayments. Export the schedule as CSV or PDF for budgeting or Excel.
How to use the amortization calculator
Enter loan details
Type the loan amount, annual interest rate (%), and term in years or months. Pick a start date so payment dates align with your budget.
Review the monthly payment
The calculator shows your fixed principal-and-interest payment, total interest over the life of the loan, and estimated payoff date.
Scroll the amortization table
Each row lists payment date, principal, interest, extra principal (if any), and remaining balance. Annual summaries group interest and principal by year.
Add extra payments (optional)
Enter monthly, yearly, or one-time extra principal payments to see how much interest and time you save versus the baseline schedule.
Export or share
Download CSV for Excel or Google Sheets, or PDF for records — after the optional email step (no account required).
Use preset chips for common scenarios (30-year mortgage, 5-year auto, personal loan) or enter custom values. For hourly income planning alongside loan payments, see the hourly wage calculator.
Loan amortization formula
The standard loan amortization formula for a fixed monthly payment is:
Monthly payment formula
M = P × [r(1 + r)n] / [(1 + r)n − 1]M = monthly payment · P = loan principal · r = monthly interest rate (annual rate ÷ 12 ÷ 100) · n = number of monthly payments
When the rate is 0%, the payment is simply P ÷ n. Each period, interest = remaining balance × r; principal = payment − interest (plus any extra principal).
| Loan amount | Rate | Term | Monthly payment |
|---|---|---|---|
| $200,000 | 6% | 15 years | $1,687.71 |
| $250,000 | 6.5% | 30 years | $1,580.17 |
| $400,000 | 7% | 30 years | $2,661.21 |
| $100,000 | 7% | 5 years | $1,980.12 |
| $25,000 | 5% | 5 years | $471.78 |
Amounts above assume fixed-rate principal-and-interest with monthly payments and no extra prepayments. Rounding may differ slightly from your lender's servicing system by a few cents per period.
After the fixed monthly payment M is calculated, each row in the schedule repeats three steps (the same logic Excel IPMT and PPMT use):
1. Interest = remaining balance × monthly rate r
2. Principal = scheduled payment − interest (plus any extra principal)
3. New balance = old balance − total principal paid
For definitions and worked examples, see Investopedia: amortization and the CFPB guide to amortization.
How to read your amortization schedule
An amortization schedule is a table that shows how each loan payment is applied. Early in the term, most of each payment goes to interest because the balance is high. Over time, the principal portion grows and interest shrinks — even though the monthly payment stays the same on a fixed-rate loan.
Example ($250,000 at 6.5% over 30 years): Payment 1 applies about $1,354 to interest and only $226 to principal. By payment 233 (the crossover), principal finally exceeds interest — yet you may still owe more than half the original balance.
Key columns in this calculator:
Payment
Your scheduled principal-and-interest amount for that month (before optional extras).
Principal & interest
How much reduces the loan balance vs how much is the cost of borrowing.
Ending balance
Remaining loan balance after the payment — the base for next month's interest charge.
Cumulative interest
Running total of interest paid from payment 1 through the current row.
Use annual rollups to compare interest paid year by year — helpful when deciding whether to refinance, sell, or make extra payments.
Extra payments and interest savings
Extra principal payments reduce your balance faster, which lowers future interest charges and can shorten the loan. This calculator supports monthly, yearly, and one-time extra payments (up to five one-time entries).
Example A — $400,000 at 7% over 30 years: Baseline payment $2,661.21 and about $558,036 total interest. Adding $200/month pays off in ~291 months instead of 360 — saving roughly $126,618 in interest.
Example B — $250,000 at 6.5% over 30 years: An extra $100/month clears the loan in ~304 payments (about 4.7 years early) and saves roughly $58,860 in interest versus the baseline schedule.
How extra payments work
Extra amounts apply directly to principal after the scheduled P&I split. The regular payment does not change — you simply owe less interest on the smaller balance going forward. Confirm with your lender that extras post to principal (not prepaid future installments), and check whether prepayment penalties apply on auto or personal loans.
Principal vs interest crossover
The crossover point is the payment number when principal exceeds interest for the first time. Before crossover, more of each payment services interest; after crossover, more goes to paying down the loan.
On a $250,000 mortgage at 6.5% over 30 years, crossover happens around payment 233 — nearly 20 years into the loan. Higher rates push crossover later; shorter terms reach it sooner.
Why crossover matters
If you sell or refinance early, you may have paid mostly interest relative to principal. Extra payments before crossover can have an outsized impact on total interest saved — the calculator highlights your crossover payment in the results panel.
Loan types: mortgage, auto, and personal
The same amortization math applies to most fixed-rate installment loans. This tool models principal and interest only — not taxes, insurance, or fees wrapped into some mortgage payments.
Mortgage
Typical terms: 15 or 30 years. Use presets for common home-loan scenarios. Does not include property tax, homeowners insurance, PMI, or HOA.
Auto loan
Often 36–72 months. Shorter terms mean higher payments but less total interest — compare presets in the calculator.
Personal loan
Usually 2–7 years, unsecured. Fixed rate and fixed payment fit the standard amortization formula used here.
Calculator limitations
What this tool does not include
This amortization schedule calculator is for fixed-rate, monthly, principal-and-interest loans only. It does not model property tax, homeowners insurance, PMI, or HOA (PITI); adjustable-rate mortgages (ARM) or rate changes; interest-only, balloon, or biweekly payment schedules; or origination fees, points, and escrow adjustments.
Results are estimates for planning — not a loan offer or payoff quote from your servicer.
Printable amortization schedule, PDF & Excel export
Searches for a printable amortization schedule or free amortization schedule PDF usually mean borrowers want a table they can save, print, or open in Excel. This calculator generates the full schedule instantly and lets you export PDF (print-friendly summary plus first and last 12 payments) or export CSV with every period — Period, Date, Payment, Principal, Interest, Extra principal, Ending balance, and Cumulative interest.
Many borrowers also build tables in Excel using PMT, IPMT, and PPMT. CSV export skips manual formula setup: open the file in Excel or Google Sheets, add custom columns (taxes, rent-vs-buy, debt-to-income), or print the sheet for your records.
Tip: Use the annual rollup view on mobile for a quick year-by-year summary, then export CSV when you need every monthly row for budgeting or sharing with a co-borrower.
For small businesses financing equipment
Restaurants, retailers, and service businesses often finance equipment, vehicles, or build-outs with fixed-term loans. Use this calculator to stress-test monthly payments against cash flow before you sign — then pair loan math with labour cost planning via the hourly wage calculator.
If you run a growing team, explore more free Ordio calculators for payroll and scheduling — or see how Ordio helps operators manage shifts and time tracking.
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Frequently asked questions about Amortization schedule calculator
What is an amortization schedule?
An amortization schedule is a table showing each loan payment over time: how much goes to principal, how much to interest, and the remaining balance after each payment. It helps you see total borrowing cost and how fast you build equity.
What is the formula for loan amortization?
M = P × [r(1 + r)n] / [(1 + r)n − 1], where M is the monthly payment, P is principal, r is the monthly rate, and n is the number of payments. Each month, interest = balance × r; principal = payment − interest.
How do I calculate my monthly loan payment?
Enter loan amount, annual interest rate, and term in months. The calculator converts the annual rate to a monthly rate, applies the amortization formula, and returns the fixed principal-and-interest payment. At 0% interest, divide principal by the number of months.
What is the monthly payment on a $400,000 loan at 7% for 30 years?
About $2,661.21 per month principal and interest, with roughly $558,036 in total interest over 360 payments. This excludes taxes, insurance, and other escrow items.
How much does an extra $100 or $200 per month save?
On $400,000 at 7% over 30 years, an extra $200/month pays off in ~291 months instead of 360 — saving roughly $126,618 in interest. On $250,000 at 6.5%, an extra $100/month saves ~$58,860 and finishes ~56 months early. Exact savings depend on when extras start.
Can I use this for mortgages, auto loans, and personal loans?
Yes — any fixed-rate installment loan with equal monthly payments fits the standard amortization model. Choose presets or enter custom amount, rate, and term. It does not model leases, revolving credit, or variable rates.
Does this calculator include property taxes and insurance?
No. This tool shows principal and interest (P&I) only. Full mortgage payments (PITI) also include property tax, homeowners insurance, PMI, and sometimes HOA — add those separately when budgeting.
What is the difference between APR and interest rate?
The interest rate is the annual cost of borrowing the principal. APR (annual percentage rate) includes certain fees and costs spread over the loan term, so APR is often slightly higher than the note rate. This calculator uses the nominal annual interest rate you enter.
How does loan term affect my payment and total interest?
A shorter term raises the monthly payment but cuts total interest dramatically. A longer term lowers the monthly payment but increases lifetime interest. Compare 15-year vs 30-year presets in the calculator to see the trade-off.
When does principal exceed interest on a loan?
The crossover point is when the principal portion of a payment first exceeds interest. On a $250,000 loan at 6.5% over 30 years, that happens around payment 233. Higher rates delay crossover; shorter terms accelerate it.
Can I export or print my amortization schedule?
Yes — use CSV or PDF export after the optional email step (no account required). CSV includes every payment period with eight columns for Excel or Google Sheets. PDF is print-friendly — useful when you need a printable amortization schedule without building formulas.
How do I create an amortization schedule in Excel?
In Excel, use =PMT(rate/12, n, -principal) for the payment, then IPMT and PPMT per row — or export CSV from this calculator to skip manual setup. Related searches like loan amortization schedule Excel and amortization schedule with extra payments are easier to model here first, then tweak in a spreadsheet.
What is the difference between interest-only and amortizing loans?
An interest-only loan charges interest each period without reducing principal until a later balloon or reset. An amortizing loan pays both principal and interest so the balance reaches zero by the end of the term. This calculator models standard amortizing loans only.
Does this work for car loans and personal loans?
Yes. For car buying with trade-in, tax, and fees, use our dedicated auto loan calculator. This amortization tool is best for schedule depth, extra payments, and mortgage or personal loan scenarios when you already know the loan amount.
How accurate is this amortization calculator?
Payments use standard US currency rounding to two decimal places per period — aligned with Vitest golden tests in our engine. Your lender's servicing system may differ by a few cents per payment due to day-count conventions or fee handling.
How do extra payments affect my amortization schedule?
Extra principal reduces the balance immediately, so future interest charges drop and the loan may pay off early. This calculator shows a revised schedule, months saved, and interest saved versus the baseline — for monthly, yearly, or one-time extras.
Is this financial or tax advice?
No. This tool provides loan payment estimates for planning and education. Loan terms, prepayment rules, tax deductibility of interest, and refinancing decisions depend on your lender, state, and personal situation — not tax or legal advice.
Can I use this to compare refinancing?
You can model a new loan amount, rate, and term to estimate payments and total interest, but v1 does not include closing costs, break-even analysis, or side-by-side refinance compare mode. Run two scenarios manually or watch for refinance tools in a future update.