Amortization Schedule Calculator
Estimate monthly mortgage payment and view first-year amortization details.
How this calculator works
How to use this calculator
Enter the loan amount, annual interest rate, and loan term. The calculator estimates the monthly payment, total interest, and first-year principal and interest breakdown.
Formula used
Monthly Payment = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is loan amount, r is monthly interest rate, and n is number of monthly payments.
Example calculation
For a $250,000 loan at 6% for 30 years, the estimated monthly payment is about $1,498.88.
What the result means
The result shows the fixed monthly payment estimate and how the first year is split between principal and interest. Early payments usually include more interest than principal.
Frequently asked questions
Does this include taxes and insurance?
No. This calculator estimates principal and interest only.
Why is most of the first-year payment interest?
Mortgage amortization front-loads interest because the loan balance is highest at the beginning.
Can I use this for any loan?
Yes, the formula works for many fixed-rate installment loans, but it is commonly used for mortgages.