Home
Amortization Schedule
See every year of a loan laid out: how much goes to principal, how much to interest, the year that flips, and what extra principal does to the payoff.
Year by year
| Year | Principal paid | Interest paid | Ending balance |
|---|---|---|---|
| 1 | $3,353 | $19,401 | $296,647 |
| 2 | $3,578 | $19,177 | $293,069 |
| 3 | $3,817 | $18,937 | $289,252 |
| 4 | $4,073 | $18,681 | $285,179 |
| 5 | $4,346 | $18,409 | $280,833 |
| 6 | $4,637 | $18,118 | $276,196 |
| 7 | $4,947 | $17,807 | $271,249 |
| 8 | $5,279 | $17,476 | $265,970 |
| 9 | $5,632 | $17,122 | $260,338 |
| 10 | $6,009 | $16,745 | $254,328 |
| 11 | $6,412 | $16,343 | $247,916 |
| 12 | $6,841 | $15,913 | $241,075 |
| 13 | $7,299 | $15,455 | $233,776 |
| 14 | $7,788 | $14,966 | $225,987 |
| 15 | $8,310 | $14,445 | $217,677 |
| 16 | $8,866 | $13,888 | $208,811 |
| 17 | $9,460 | $13,294 | $199,351 |
| 18 | $10,094 | $12,661 | $189,257 |
| 19 | $10,770 | $11,985 | $178,487 |
| 20crossover | $11,491 | $11,263 | $166,996 |
| 21 | $12,261 | $10,494 | $154,735 |
| 22 | $13,082 | $9,673 | $141,653 |
| 23 | $13,958 | $8,797 | $127,695 |
| 24 | $14,893 | $7,862 | $112,803 |
| 25 | $15,890 | $6,864 | $96,912 |
| 26 | $16,954 | $5,800 | $79,958 |
| 27 | $18,090 | $4,665 | $61,868 |
| 28 | $19,301 | $3,453 | $42,567 |
| 29 | $20,594 | $2,161 | $21,973 |
| 30 | $21,973 | $781 | $0 |
What this means
At 6.5%, a $300,000 loan over 30 yr costs $1,896.20 a month and $382,633 in interest. For the first 19 years, more of each payment goes to interest than to the loan. Year 20 is the first year that flips. That is not a fee or a trick. Interest is charged on what you still owe, and early on you still owe nearly all of it.
Try a number in the extra box. Extra principal in the early years, when the balance is largest, avoids the most interest, because every dollar of it stops being charged interest for every month left in the loan.
These figures are principal and interest only, as estimates. Your servicer’s schedule can differ by a few dollars from rounding each payment to the cent, and taxes and insurance in escrow are on top.
Build on it
These are estimates to help you think, not personalized legal, tax, or investment advice, and not a promise of any result.
This calculator lays out a loan year by year: how much of what you pay goes to the balance, how much goes to interest, and what you still owe at the end of each year. Add an extra monthly amount and it shows how much sooner the loan is paid off and how much interest that saves.
Why it matters: on a long mortgage, most of the early payments are interest. Seeing the schedule makes that concrete, shows the year when principal finally overtakes interest, and makes the case for extra principal early better than any rule of thumb.
How to use it
Enter the loan
The amount borrowed, the rate and the term in years. For a loan you already have, enter today's balance and the years left to see the rest of it.
Add extra principal if you're thinking about it
Any amount you'd send on top of the payment each month. The table switches to the schedule with the extra, and the results show how much sooner you finish and the interest you avoid.
Find the crossover year
The highlighted row is the first year more of your payments went to the loan than to interest. Everything before it is mostly interest. Extra principal moves that year earlier.
Behind the numbers
Why early payments are mostly interest
Interest each month is the rate times what you still owe. At the start you owe nearly the whole loan, so interest takes most of the payment. As the balance shrinks, so does the interest, and more of the same payment goes to principal.
The crossover year
The point where principal paid passes interest paid. On a 30-year loan at 6.5% it comes in year 20. On a 15-year loan, or at a lower rate, it comes much sooner.
Extra principal works backwards
A dollar of extra principal stops being charged interest for every month left in the loan. That is why extra in year two saves far more than the same extra in year twenty-five.
The math behind it
The payment comes from the standard amortization formula. Then the loan is run one month at a time: interest is the balance times the yearly rate divided by twelve, the rest of the payment reduces the balance, and any extra goes straight to principal. Each table row adds up twelve of those months.
Worked example
$300,000 at 6.5% for 30 years is $1,896.20 a month. In year one, $19,401 of the year's payments is interest and $3,353 is principal. Principal first beats interest in year 20. Over the whole loan, interest comes to $382,633. Add $200 a month and the loan is paid off in 23 years 1 month, 6 years 11 months sooner, with $103,449 less interest.
Year one tells you the story
Multiply the loan by the rate for a rough first-year interest bill: $300,000 at 6.5% is about $19,500. Compare that to a year of payments and you'll see how little goes to principal at first.
Common questions
What is an amortization schedule?
A table showing how each payment on a loan splits between interest and principal, and how the balance falls over time. Lenders produce one month by month; this calculator rolls it up by year so the pattern is easy to see.
Why does so little of my mortgage payment go to principal?
Because interest is charged on the balance, and early on the balance is large. The payment stays the same every month, so the interest share starts high and shrinks while the principal share grows. Your statement shows the same split.
How much does extra principal save?
It depends on the rate, the balance and when you start. Enter your loan and an extra amount above to see the payoff time and interest saved. Ask your servicer to apply extra to principal, or it may be held for the next payment instead.
Will my lender's schedule match this exactly?
Closely, not perfectly. Servicers round each payment to the cent, and some count interest slightly differently, so totals can differ by a few dollars. Taxes and insurance paid through escrow are not part of the schedule.
Go deeper
The calculator gives you a number. The Home Ownership & Real Estate Brick teaches you what to do with it, in plain English. And if you’re not sure where to start, the free BrickScore Assessment checks your whole foundation in about 5 minutes.
first the number, then the move