Overview
What Is an Amortization Calculator?
This tool shows how a loan payment breaks down between principal and interest over time, and calculates total interest paid over the loan term.
See your loan payoff schedule and interest breakdown.
This tool shows how a loan payment breaks down between principal and interest over time, and calculates total interest paid over the loan term.
Useful for understanding how your payments are applied and how much total interest you'll pay.
Input your loan's key details.
Payment, total interest, and total cost update automatically.
It's the process of paying off a loan through regular payments that cover both principal and interest over time.
Because interest is calculated on the remaining balance, which is highest early in the loan.
Yes, extra payments toward principal (especially early) can significantly reduce total interest paid over the loan's life.
This focuses on the interest/principal breakdown and total cost; our loan calculator shows just the payment amount.
This shows summary totals - a full schedule would list every individual payment's breakdown.
No, calculations happen entirely in your browser.
Yes, the amortization concept applies to any fixed-rate installment loan including mortgages.
The sum of all interest portions across every payment over the full loan term.
Yes, try different term lengths to compare total interest paid.
Yes, completely free with no sign-up required.