Amortization schedule calculator
Every payment of a fixed-rate loan: interest, principal and the balance left, with extra payments and a CSV download.
Monthly payment$250,000 at 6.5% APR over 30 years
- Total interest
- $318,861.58
- 56.1% of all you pay
- Total of payments
- $568,861.58
- Principal plus interest
- Paid off in
- 30 years
- First month's interest $1,354.17
- With the extra payment
- –
- Saves – interest and –
Estimate for education, not financial advice. Fixed rate, monthly payments, no fees or insurance. Formula
Amortization schedule, payment by payment
| Payment | Paid | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $1,580.17 | $226.00 | $1,354.17 | $249,774.00 |
| 2 | $1,580.17 | $227.23 | $1,352.94 | $249,546.77 |
| 3 | $1,580.17 | $228.46 | $1,351.71 | $249,318.31 |
| 4 | $1,580.17 | $229.70 | $1,350.47 | $249,088.61 |
| 5 | $1,580.17 | $230.94 | $1,349.23 | $248,857.67 |
| 6 | $1,580.17 | $232.19 | $1,347.98 | $248,625.48 |
| 7 | $1,580.17 | $233.45 | $1,346.72 | $248,392.03 |
| 8 | $1,580.17 | $234.71 | $1,345.46 | $248,157.32 |
| 9 | $1,580.17 | $235.98 | $1,344.19 | $247,921.34 |
| 10 | $1,580.17 | $237.26 | $1,342.91 | $247,684.08 |
| 11 | $1,580.17 | $238.55 | $1,341.62 | $247,445.53 |
| 12 | $1,580.17 | $239.84 | $1,340.33 | $247,205.69 |
| 13 | $1,580.17 | $241.14 | $1,339.03 | $246,964.55 |
| 14 | $1,580.17 | $242.45 | $1,337.72 | $246,722.10 |
| 15 | $1,580.17 | $243.76 | $1,336.41 | $246,478.34 |
| 16 | $1,580.17 | $245.08 | $1,335.09 | $246,233.26 |
| 17 | $1,580.17 | $246.41 | $1,333.76 | $245,986.85 |
| 18 | $1,580.17 | $247.74 | $1,332.43 | $245,739.11 |
| 19 | $1,580.17 | $249.08 | $1,331.09 | $245,490.03 |
| 20 | $1,580.17 | $250.43 | $1,329.74 | $245,239.60 |
| 21 | $1,580.17 | $251.79 | $1,328.38 | $244,987.81 |
| 22 | $1,580.17 | $253.15 | $1,327.02 | $244,734.66 |
| 23 | $1,580.17 | $254.52 | $1,325.65 | $244,480.14 |
| 24 | $1,580.17 | $255.90 | $1,324.27 | $244,224.24 |
How the schedule is built
The level monthly payment is M = P × r ÷ (1 − (1 + r)−n), where P is the loan amount, r the monthly rate (APR ÷ 12 ÷ 100) and n the number of monthly payments. Each month the interest is the balance × r, the rest of the payment (plus any extra you enter) reduces the balance, and the last payment is whatever clears what is left. The totals and the CSV use the same numbers.
Assumptions
- Fixed rate, monthly payments, interest compounded monthly at APR ÷ 12.
- No fees, taxes, insurance or escrow. Add those with the mortgage with escrow calculator.
- Amounts are not rounded to the cent each month, so a lender’s schedule can differ by a few cents per line and in the final payment.
- An extra payment is applied to principal every month from the first payment.
Estimate for education, not financial advice. Ask your lender for your exact schedule.