Scenario 1
30-year mortgage
$200,000 at 6%, 30 years → $1,199/month. After 10 years, still owe $162,600 — 81% of original balance.
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Amortization Calculator
See exactly how your loan is being paid down — month by month.
Adjust your inputs
Results update instantly as you type or drag.
1,000 – 10,000,000
$
0.1 – 25
%
1 – 40
Quick insights
Total interest paid
$231,676
Total amount paid
$431,676
Quick answer
What is loan amortization?
Amortization is spreading loan repayments over time so each payment covers both interest and principal. Early payments are mostly interest; later ones are mostly principal.
How it works
From inputs to result in four steps
A quick walkthrough of what this calculator does behind the scenes.
- 1
Enter your loan amount.
- 2
Set the annual interest rate.
- 3
Set the loan term.
- 4
See total interest, breakeven point, and payoff details.
Formula
The math behind the number
No black box — here's exactly how the result is computed.
Formula
r = Annual rate ÷ 12 ÷ 100
Monthly payment = P × r × (1+r)^n / ((1+r)^n − 1)
For each period:
Interest portion = Remaining balance × r
Principal portion = Payment − Interest
New balance = Remaining − Principal portionExamples
Real-world scenarios
See how the numbers play out for typical use cases.
Scenario 2
15-year comparison
$200,000 at 5.5%, 15 years → $1,634/month but only $94,100 total interest — $137,500 less than the 30-year.
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