Loan Amortization Schedule
Generate a full amortization table. See principal vs interest breakdown for each payment over the life of any loan.
Understanding Amortization
Amortization spreads loan repayment over fixed monthly payments covering both principal and interest. Early payments are mostly interest — on a $300K mortgage at 6.5%, your first $1,896 payment puts only $271 toward principal and $1,625 toward interest. This ratio gradually inverts over the life of the loan.
The Power of Extra Payments
Extra payments go entirely to principal. An additional $200/month on a $300K mortgage at 6.5% saves over $100,000 in interest and cuts 8+ years off the loan. The earlier you start making extra payments, the bigger the impact.
On a 30-year mortgage at 6.5%, you do not pay off half the principal until year 22. For 22 years, more than half of every payment is interest. This is why refinancing to a lower rate or making extra payments early has such outsized impact.
