Build a month-by-month loan amortization schedule with dates, principal, interest and balance, and see how extra payments cut interest and time.
About this tool
Build a month-by-month loan amortization schedule with extra payments.
How to use Amortization Calculator
- Enter the loan amount, rate and term.
- Add an optional extra monthly payment and the first payment date.
- Read the payment, payoff date and the full schedule.
Worked example
Adding 200 a month to a 250,000 30-year loan at 6.5% saves over 90,000 in interest and pays it off years early.
Why is most of the early payment interest?
Interest is charged on the remaining balance, which is highest at the start.
Do extra payments always go to principal?
Usually, but confirm with your lender that extra payments reduce the principal.
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