Enter your loan amount, rate, and term. We'll show monthly principal and interest, plus a full year-by-year breakdown of how your balance pays down over the life of the loan.
All numbers are estimates. Your real loan depends on credit, equity, property type, and current rates. Run the math, then request a free quote.
Mortgage amortization is heavily weighted toward interest in the early years and shifts toward principal as the balance shrinks. On a fresh 30-year loan, your first year is roughly 80%+ interest. By the final years, it flips: most of the payment goes to principal.
This matters for refinances, prepayments, and selling decisions. Refinancing late in a loan resets the heavy-interest years; making one extra payment early in the loan saves disproportionately more interest than one made late.
Amortization is the process of paying off a loan in regular installments where each payment splits between principal and interest. As the balance shrinks, the interest portion shrinks too.
Interest is charged on the outstanding balance, which is highest at the start of the loan. As you pay down principal, the interest portion shrinks and the principal portion grows, even though the total payment stays the same.
Yes. Every extra dollar of principal reduces the balance, which means less interest charged in every subsequent month. Use our Early Payoff Calculator to model extra payments.
The math is identical for any standard fixed-rate amortizing loan. ARMs, interest-only loans, and balloon mortgages have different schedules.
No, this calculator shows principal and interest only. Taxes and insurance escrow are added on top of the P&I payment by your servicer.
Two main ways: pay extra principal (especially early), or refinance to a lower rate or shorter term. Both shift the balance closer to payoff faster.
Take your inputs and get a real, written rate quote, usually within 1-2 business days.