Amortization Schedule
Calculate and visualize the complete repayment schedule for a loan, breaking down principal and interest for every payment.
What Is an Amortization Schedule?
An Amortization Schedule is a detailed table that outlines each periodic payment on an amortizing loan (like a mortgage or car loan). It mathematically breaks down each individual payment, showing exactly how much of your money is applied to paying off the Principal (the actual amount borrowed) and how much goes toward the Interest (the lender's profit) over the entire life of the loan.
How Amortization Works
Understanding your schedule is crucial for managing debt effectively. The fundamental rule of an amortized loan is that your monthly payment amount stays the same, but the makeup of that payment changes over time:
- Early Payments: At the beginning of the loan—especially long-term loans like a 30-year mortgage—the vast majority of your monthly payment goes toward Interest. Very little goes toward reducing the Principal balance.
- Later Payments: As the Principal balance slowly decreases, the interest calculated on that balance also decreases. Therefore, toward the end of the loan, the majority of your payment goes toward paying off the Principal.
Why You Need This Document
Generate Your Amortization Schedule
Instantly calculate your loan payments and print a complete breakdown of principal and interest.