Amortization Calculator
Enter Loan details, pick a start month, and click on 'Calculate'.
Loan Summary
Monthly Payment
$0.00
Total Interest
$0.00
Loan Amount Taken
$0.00
Extra Principal Paid
$0.00
Payoff Date
-
Number of Payments
0
Total Cost
$0.00
Interest Saved
$0.00
Payment Breakdown
Amortization Schedule
| Payment Date | Payment | Principal | Interest | Extra Principal | Balance |
|---|
Key Features
Comprehensive Loan Analysis
Full Breakdown of Payments, Interest, and Payoff Date calculated in Real-time.
Interactive Schedule
Payment-by-Payment timeline with Principal/Interest Breakdown.
Export & Print
Download CSV or generate Printer-Friendly Reports with One Click.
Dynamic Visualizations
Full Breakdown of Payments, Interest, and Payoff Date calculated in Real-time.
Mobile Responsive
Works flawlessly on all Devices including Desktop, Tablets, & Mobiles with responsive inputs.
No Hidden Costs
100% Free with no Registration required.
Frequently Asked Questions
What can this “Amortization Calculator” do?
It generates a detailed Payment Schedule for Loans (Mortgages, Auto Loans, etc.), showing how each Payment Splits between Principal and Interest. You can also model Extra Payments to see how they shorten your loan term.
How Accurate are the Results?
The Calculations follows standard Amortization Formula used by lenders. For precise Figures, ensure your inputs (Interest Rate’s, Loan term’s, etc.) match your Loan Agreement.
Is there a Cost to use this Tool?
No—it’s completely Free, with no Sign-Ups or Hidden Fees.
Which Fields are Required?
You must enter:
- Start Date (first payment month)
- Loan Amount (total borrowed)
- Interest Rate (annual rate, as a percentage)
- Loan Term (in years)
How do Extra Principal Payments work?
Enter an Amount and Frequency (Monthly, Quarterly, Half Yearly, Yearly, or One-Time). The Tool will recalculate your Payoff Timeline and total Interest Savings.
Can I simulate a One-Time Lump-Sum Payment?
Yes! Select “One-Time” under Payment Frequency for extras.
Why does the Start Date matter?
It determines your Payment Timeline. For example, a July 2025 start date schedules payments on the 1st of each subsequent month.
What’s the difference between “Principal” and “Interest” in the Schedule?
- 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.
How does “Total Interest” Change with Extra Payments?
Extra payments reduce your principal faster, lowering the interest charged over the Loan’s life.
What’s “Interest Saved” in the table?
The difference between total interest paid with and without extra payments.
Why does My Payoff Date Shift?
Extra Payments shorten your Loan Term. Even small amounts (e.g., $100/month) can cut years off a Mortgage.
Can I Download or Print the Schedule?
Yes! Use the Download, Email, or Print buttons to:
- Download the Amortization Schedule Table in CSV, Excel, or Google Sheets format.
- Print the complete Amortization Schedule Spreadsheet.
- Save as PDF for easy sharing and future reference.
- Email the Loan Summary directly to your Inbox or another Recipient.
How do I Adjust my Inputs?
- Change any value and click “Calculate” again. The Schedule updates instantly.
- You can also click on “Reset” button to enter fresh values.
What’s the “Load More Payments” button for?
The schedule initially shows 12 months. Click “Load More” button to display additional payments.
Which is better: Making Biweekly Payments or Monthly?
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. Try both options in the calculator to compare how your payoff date and total interest paid change.
Why aren’t Results appearing?
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.
My Payoff Date isn’t Updating with Extra Payments?
- Verify the Extra Payment Amount is > 0.
- Try increasing the Amount or Frequency.
Can I use this for Adjustable-Rate Loans (ARMs)?
No. Our Amortization Calculation Tool assumes a Fixed Interest Rate.
What happens if my Lender Charges a Penalty for Early Payoff?
Some 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.
How do Irregular Extra Payments Work?
The tool models fixed extras at regular intervals. For irregular payments, approximate by averaging them annually.
Will my Lender accept Extra Payments?
Most do, but Check your Loan Terms. Some may Apply Extras to Future Payments unless specified for Principal.
What’s the Best Strategy for Extra Payments?
- Higher Frequency : Monthly extras Save More Money than yearly.
- Early payments : Save the Most Interest by Paying Extra early in the Loan term.
Is my Loan Data Stored?
No. All Calculations happen in your browser. Nothing is Saved or Shared.
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