An amortization schedule is the complete roadmap of your mortgage — every single payment from month one to your final payoff, showing exactly how much goes to principal, how much to interest, and what your remaining balance is after each payment. Most homeowners never look at this table. The ones wh...
Enter your Loan Amount — the total amount borrowed, not the home purchase price.
The Interest Rate and Loan Term are pre-filled with typical values. Adjust if needed.
Your full amortization schedule appears instantly — switch between BY YEAR and BY MONTH views.
In the BY YEAR view, click any year row to jump to its monthly breakdown.
Use the year selector buttons in monthly view to navigate through the loan term.
A $300,000 mortgage at 7% for 30 years produces a monthly payment of $1,995.91. In Month 1: Interest = $300,000 × (7%/12) = $1,750.00. Principal = $1,995.91 - $1,750.00 = $245.91. Balance = $300,000 - $245.91 = $299,754.09. By end of Year 1: Total interest paid = $20,903.46. Total principal paid = $3,047.43. Remaining balance = $296,952.57. Notice: in the entire first year, only $3,047 of the $23,951 paid actually reduces your debt.
| NAME | FORMULA | DESCRIPTION |
|---|---|---|
| Monthly Payment | M = P × r(1+r)ⁿ / ((1+r)ⁿ - 1) | P = principal, r = monthly rate (annual/12/100), n = total months |
| Monthly Interest | Interest = Balance × (Annual Rate / 12 / 100) | Interest portion of each payment — decreases every month |
| Monthly Principal | Principal = Monthly Payment - Interest | Principal portion — increases every month |
| Remaining Balance | Balance = Previous Balance - Principal | Outstanding loan balance after each payment |
| Total Interest | Total Interest = (M × n) - P | Total interest paid over the full loan term |
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Last updated: April 25, 2026 · Formula verified by EagleCalculator team · Eagle-eyed accuracy for every calculation.