Amortization Schedule Calculator
See a detailed year-by-year breakdown of your loan payments showing how much goes to principal vs. interest over the life of your loan.
Loan Details
Amortization Summary
Understanding Amortization
Amortization spreads your loan into equal payments. Early payments are mostly interest; later payments are mostly principal.
Sources
- • Consumer Financial Protection Bureau. "Understand loan options."
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Frequently Asked Questions
What is an amortization schedule?
An amortization schedule shows every payment over the life of a loan, breaking each into principal and interest portions. It reveals how your balance decreases over time.
Why do I pay more interest early on?
Interest is calculated on the remaining balance. Since the balance is highest at the start, early payments have a larger interest portion.
Can I pay off my loan faster?
Yes. Making extra payments toward principal reduces your balance faster, saving interest and shortening the loan term.