Free Amortization Calculator

See exactly how each payment splits between principal and interest.

Every fixed-rate loan payment is split between interest (based on your current balance) and principal (which reduces your balance). Early in the loan, most of your payment is interest; that ratio flips as the balance shrinks. Adding even a small extra payment each month accelerates that shift and can cut years off a mortgage.

Frequently Asked Questions

What does an extra monthly payment do?
It goes straight to principal, shortening your loan term and reducing total interest paid.