Free Mortgage Amortization Calculator – Full Payment Schedule Online
A mortgage amortization schedule breaks down every monthly payment into principal and interest components over the entire life of your loan. Understanding this schedule is crucial for homebuyers and homeowners who want to see exactly where their money goes each month and how their loan balance decreases over time.
Our free mortgage amortization calculator instantly generates a complete month-by-month breakdown. Simply enter your loan amount, annual interest rate, and loan term in years. The calculator uses the standard amortization formula: M = P[r(1+r)^n]/[(1+r)^n-1], where M is the monthly payment, P is the principal, r is the monthly interest rate, and n is the total number of payments.
In the early years of a mortgage, a larger portion of each payment goes toward interest. As the loan matures, more of each payment is applied to the principal. This is why making extra principal payments early in the loan term can significantly reduce the total interest paid and shorten the loan duration.
Whether you are comparing 15-year vs 30-year mortgages, evaluating refinancing options, or simply planning your household budget, our amortization calculator provides the detailed financial picture you need. All calculations are performed locally in your browser — no data is sent to any server.
For a quick estimate of your monthly payment without the full schedule, try our mortgage calculator. If you are evaluating other types of loans, our loan calculator covers personal, auto, and student loans. To see how your savings grow over time for a future down payment, check the compound interest calculator.