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Mortgage Amortization Calculator
Generate complete mortgage amortization schedules — annual or monthly. See principal vs interest breakdown, crossover point, and cumulative interest over time.
$
%
Monthly Payment⧉
$2,270.09
Principal & Interest
Total Interest⧉
$467,234.00
133.5% of loan amount
Total Paid⧉
$817,234.00
Over 30 years
P>I Crossover⧉
Year 19.8
Month 238 — more goes to principal
50% Paid Off⧉
Year 21.6
Month 259
Interest Multiple⧉
133.5%
Total interest as % of principal
Principal vs Interest by Year
Yr 1
14% P
Yr 2
15% P
Yr 3
16% P
Yr 4
17% P
Yr 5
18% P
Yr 6
19% P
Yr 7
21% P
Yr 8
22% P
Yr 9
23% P
Yr 10
25% P
Annual Amortization
| Year | Principal | Interest | Balance | Cum. Interest |
|---|---|---|---|---|
| 1 | $3,730.00 | $23,511.00 | $346,270.00 | $23,511.00 |
| 2 | $3,990.00 | $23,251.00 | $342,280.00 | $46,762.00 |
| 3 | $4,268.00 | $22,973.00 | $338,012.00 | $69,736.00 |
| 4 | $4,565.00 | $22,676.00 | $333,448.00 | $92,412.00 |
| 5 | $4,883.00 | $22,358.00 | $328,565.00 | $114,771.00 |
| 6 | $5,223.00 | $22,019.00 | $323,342.00 | $136,789.00 |
| 7 | $5,586.00 | $21,655.00 | $317,756.00 | $158,444.00 |
| 8 | $5,975.00 | $21,266.00 | $311,781.00 | $179,710.00 |
| 9 | $6,391.00 | $20,850.00 | $305,390.00 | $200,560.00 |
| 10 | $6,836.00 | $20,405.00 | $298,553.00 | $220,965.00 |
| 11 | $7,312.00 | $19,929.00 | $291,241.00 | $240,894.00 |
| 12 | $7,821.00 | $19,420.00 | $283,420.00 | $260,313.00 |
| 13 | $8,366.00 | $18,875.00 | $275,054.00 | $279,189.00 |
| 14 | $8,948.00 | $18,293.00 | $266,105.00 | $297,481.00 |
| 15 | $9,572.00 | $17,670.00 | $256,534.00 | $315,151.00 |
| 16 | $10,238.00 | $17,003.00 | $246,296.00 | $332,154.00 |
| 17 | $10,951.00 | $16,290.00 | $235,345.00 | $348,444.00 |
| 18 | $11,713.00 | $15,528.00 | $223,632.00 | $363,972.00 |
| 19 | $12,529.00 | $14,712.00 | $211,103.00 | $378,684.00 |
| 20 | $13,401.00 | $13,840.00 | $197,702.00 | $392,524.00 |
| 21 | $14,334.00 | $12,907.00 | $183,367.00 | $405,431.00 |
| 22 | $15,332.00 | $11,909.00 | $168,035.00 | $417,340.00 |
| 23 | $16,400.00 | $10,841.00 | $151,635.00 | $428,181.00 |
| 24 | $17,542.00 | $9,699.00 | $134,093.00 | $437,880.00 |
| 25 | $18,763.00 | $8,478.00 | $115,330.00 | $446,358.00 |
| 26 | $20,070.00 | $7,171.00 | $95,260.00 | $453,529.00 |
| 27 | $21,467.00 | $5,774.00 | $73,793.00 | $459,303.00 |
| 28 | $22,962.00 | $4,279.00 | $50,831.00 | $463,583.00 |
| 29 | $24,561.00 | $2,681.00 | $26,271.00 | $466,263.00 |
| 30 | $26,271.00 | $970.00 | $0.00 | $467,234.00 |
Planning notes, formulas, and examples
About the Mortgage Amortization Calculator
An amortization schedule is the complete payment-by-payment breakdown of a mortgage, showing exactly how much of each payment goes to principal and how much goes to interest. Early in the loan, interest dominates — on a typical 30-year mortgage at 6.75%, about 75% of each early payment goes to interest. This gradually shifts until a crossover point where principal exceeds interest.
Understanding amortization is crucial for financial planning. It explains why refinancing makes sense (resetting the clock increases interest), why extra payments in early years are so powerful (the balance is highest), and why the loan feels like it barely moves in the first decade.
This calculator generates a full amortization schedule in annual or monthly view. The visual principal-vs-interest bars show the ratio shifting over time, and key milestones like the crossover point and 50% payoff date provide clear goalpost markers. Whether you are evaluating a new mortgage, considering extra payments, or comparing loan terms, the amortization schedule tells the full story.
When This Page Helps
Most mortgage quotes only show the monthly payment. The amortization schedule reveals the hidden reality — how much interest you actually pay, when principal begins to dominate each payment, and how long until you reach meaningful equity. That context makes it easier to judge refinancing, extra payments, and loan-term tradeoffs.
How to Use the Inputs
- Enter the mortgage loan amount.
- Input the annual interest rate.
- Select the loan term (10-30 years).
- Choose annual or monthly schedule view.
- Review the visual principal-vs-interest bars for the first 10 years.
- Note the crossover point and 50% payoff year.
- Switch to monthly view to see individual payment breakdown.
Formula used
Payment = P × r(1+r)^n / [(1+r)^n − 1]. For month m: Interest = Balance × r/12, Principal = Payment − Interest, New Balance = Balance − Principal.Example Calculation
Result: Payment: $2,271/mo — Total interest: $467,412 — Crossover: Year 18.5 — 50% payoff: Year 21.8
A $350K mortgage at 6.75% for 30 years costs $2,271/month (P&I). You pay $467K in interest — 134% of the loan amount. Principal exceeds interest in each payment starting around year 18.5. The 50% payoff milestone is not reached until year 21.8 — well past the two-thirds mark of the loan.
Tips & Best Practices
- The crossover point (when principal > interest) comes around year 18-20 for 30-year loans — patience is required.
- Comparing the annual schedule to a 15-year version shows dramatically different interest curves.
- Cumulative interest column shows how fast interest adds up — it accelerates before decelerating.
- Use the monthly view for the first few years to see exactly how little goes to principal initially.
- Making extra payments before the crossover point has maximum impact on total interest saved.
- The total interest often exceeds the original loan amount on 30-year mortgages above 5.5%.
Reading the Schedule
In the early years, most of each payment goes to interest because the outstanding balance is highest. The schedule makes that shift visible month by month or year by year.
Crossover Point
Watch for the point where principal exceeds interest in each payment. That milestone shows when your payments start building equity faster than they service the debt.
Extra Principal
Even small extra principal payments made early in the loan can cut years off the term and reduce total interest substantially. Use the schedule to compare the base case with a faster payoff path.
Sources & Methodology
Last updated:
Methodology
This page applies the standard fixed-rate mortgage amortization formula to the entered loan amount, rate, and term, then expands the result into a monthly or annual schedule. Each period recomputes interest from the remaining balance, assigns the remainder of the payment to principal, and updates the balance until payoff. The milestone views then identify the crossover point where principal begins to exceed interest and the point where half the original balance has been repaid.
It is a planning schedule rather than a servicer statement. Escrow items, ARM resets, payment holidays, and lender-specific posting rules are not modeled unless the user reflects them manually in a separate scenario.
Sources
- What is an amortized loan? (Consumer Financial Protection Bureau) — CFPB explanation of how fixed-payment amortized loans shift from interest-heavy payments to principal-heavy payments over time.
- Loan Estimate (Consumer Financial Protection Bureau) — CFPB mortgage disclosure explainer showing how consumers compare payment structure, total costs, and loan features.
Frequently Asked Questions
Amortization is the process of paying off a loan through equal periodic payments over a fixed term. Each payment is split between interest (charged on the outstanding balance) and principal (reducing the balance). Over time, the interest portion shrinks and the principal portion grows as the balance decreases.
Interest is calculated on the outstanding balance. Early in the loan, the balance is highest, so interest charges are maximized. As you pay down principal, the balance drops and less interest accrues, allowing more of each equal payment to go toward principal reduction.
The crossover point is the month when the principal portion of your payment first exceeds the interest portion. For a 30-year mortgage at 6-7%, this typically occurs around years 17-20. Before crossover, you are paying more interest than principal; after crossover, the reverse is true.
For a fixed-rate mortgage, the total P&I payment stays constant every month. What changes is the split between principal and interest within that payment. However, if you have an adjustable-rate mortgage (ARM), the total payment may change when the rate resets.
Refinancing restarts the amortization clock with a new loan. Even if you lower your rate, the new loan starts with high interest allocation again. If you have been paying for 10 years, you have already paid the most expensive interest. Refinancing to a lower rate only saves money if the rate reduction outweighs the cost of restarting amortization.
Extra principal payments reduce the balance faster, shifting the amortization schedule in your favor. Even small extra payments ($100-200/month) can shave years off the loan and save tens of thousands in interest. The effect is strongest when made early, before the crossover point.
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