Amortization Calculator: Visualize Your Debt Repayment

See exactly where every cent of your payment goes.

An amortization schedule is a complete table of periodic loan payments, showing the amount of principal and the amount of interest that comprise each payment until the loan is paid off at the end of its term. Our Amortization Calculator is the perfect tool for families looking to visualize their journey toward being debt-free.

How Amortization Works

In the beginning of your loan, most of your payment goes toward interest. This is because the interest is calculated based on your high remaining balance. As you pay down the principal, the interest portion of your monthly payment shrinks, and the principal portion grows.

Why View the Faull Schedule?

• Strategic Planning: See how much equity you will have in your home or car after 5, 10, or 20 years.
• Interest Savings: Understand why the first few years of a mortgage are the most expensive in terms of interest.
• Refinancing Decisions: By looking at your schedule, you can determine if the cost of refinancing is worth the potential interest savings.

The Power of Extra Payments

One of the best features of our calculator is seeing the impact of “extra principal” payments.

• The “One Extra Payment” Rule: In the US and Canada, making just one extra full payment per year can shave up to 5-7 years off a 30-year mortgage and save you tens of thousands in interest.
• Monthly Add-ons: Even adding $50 to your monthly payment reduces the total “compounding” effect of the interest.