Mortgage Amortization Calculator
Generate a complete year-by-year amortization schedule for your mortgage. See exactly how much goes toward principal and interest each year, and track your remaining balance over time.
Amortization Schedule
Year-by-year breakdown · Principal vs interest · Remaining balance
| Year | Principal Paid | Interest Paid | Total Paid | Balance |
|---|
Understanding Mortgage Amortization
Amortization is the process of paying off a loan through regular payments over time. With a standard mortgage, each payment is the same amount, but the split between principal and interest changes every month. Early payments are mostly interest; later payments are mostly principal.
Why Amortization Matters
Understanding your amortization schedule helps you make strategic decisions — like when extra payments have the most impact, how much equity you’re building each year, and at what point your balance drops below 80% of the home’s value (which allows PMI removal).
15-Year vs 30-Year Amortization
A 15-year mortgage builds equity much faster and pays far less in total interest — often 50% less over the life of the loan. However, monthly payments are higher. Use this calculator to compare both terms side by side.
