Use this free mortgage amortization calculator to see your full loan payoff schedule, total interest paid, and how much you can save by making extra payments. Enter your loan amount, interest rate, and term to get an instant amortization table showing every payment from month 1 to payoff.
Whether you're comparing 30-year vs 15-year mortgage or exploring how much faster you can pay off with bi-weekly payments, this tool gives you the full picture — including your exact payoff date.
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See your full payoff schedule and interest savings
Each monthly mortgage payment is split between principal and interest. Early in the loan term, most of your payment goes to interest. Over time, more goes to principal. This mortgage amortization calculator shows the exact split for every single payment so you know exactly when you'll hit 50% principal, 80% principal, and eventually payoff.
Even $100–$200/month extra on a $350,000 30-year mortgage at 6.5% can save $40,000–$80,000 in interest and cut years off your loan. Use our amortization calculator with extra payments to see your exact savings. The earlier you start making extra payments, the more you save — compound interest works against the bank, not you.
Bi-weekly (every 2 weeks) results in 26 half-payments = 13 full payments per year. That's one extra payment annually — same as making one extra monthly payment per year. The math is identical. Choose whichever is easier to budget. Both save the same amount of interest.
A 30-year mortgage with extra payments gives you flexibility — you can always pay less in a tough month. A 15-year mortgage forces discipline. With our amortization calculator, try both scenarios: a 30-year at 6.5% with $300/month extra vs. a 15-year at 6.0%. Compare total interest paid to make the right decision for your situation.
Monthly payment = P × [r(1+r)^n] / [(1+r)^n – 1], where P = principal, r = monthly rate, n = number of payments. Then for each month: interest = balance × monthly rate; principal = payment – interest; new balance = balance – principal. Use this amortization schedule calculator to skip the math.
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| Feature | This Calculator | Bankrate | NerdWallet | Zillow |
|---|---|---|---|---|
| Extra monthly payments | ✅ | ✅ | ✅ | ❌ |
| One-time extra payment | ✅ | ❌ | ✅ | ❌ |
| Full amortization schedule | ✅ (up to 360 mo) | Limited | ✅ | ✅ |
| Interest savings summary | ✅ | ❌ | ✅ | ❌ |
| Multiple loan term options | 10/15/20/30 yr | ✅ | ✅ | ✅ |
| Bi-weekly payment option | Add $X/mo extra | ❌ | ✅ | ❌ |
This calculator wins on extra payment features and full amortization detail.
Yes. This mortgage amortization calculator works for any loan type — conventional, FHA, VA, USDA, or jumbo. Just enter the loan amount, interest rate, and term. Note that FHA loans include upfront MIP and annual mortgage insurance premiums which add to the total cost above the stated interest rate.
This calculator uses standard amortization math (same formula used by lenders). Your actual first payment date may vary slightly depending on whether your lender counts from closing date or uses the first of the month convention. The schedule is accurate to within a few dollars for most fixed-rate mortgages.
This calculator provides estimates for informational purposes only. Consult a licensed mortgage professional for actual rates and loan terms.