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Mortgage Amortization Calculator

See how a mortgage payment is split between principal and interest over time, with optional extra principal payments.

Mortgage amortization inputs

Loan and payment schedule

Estimate the scheduled payment, interest and balance path from the core loan assumptions.

$
%
years
More inputsOptional extra-payment timing, regional labels and currency formatting.
Extra payments and date labelsAdd optional extra principal payments and choose the start date for payoff labels.
$

Optional recurring extra amount per scheduled payment.

$

Optional one-time extra principal payment.

Payment 1 means the first scheduled payment.

Region and currencyChanges defaults and currency formatting only.

Region settings change defaults, labels, units and formatting only. They do not convert currencies or provide tax advice. US defaults use USD formatting and mortgage amortization wording.

Result updated. Scheduled payment $2,528.

Result summary

Scheduled payment

Per monthly payment

On schedule

$2,528

The schedule pays down over the term entered under these assumptions.

Key numbers

Payoff date
January 2056
Total interest
$510,178

Key takeaway

The estimated payment is $2,528 per monthly payment, with payoff around January 2056.

Amortization summary

Payment, payoff and interest estimates from the schedule.

Scheduled payment
$2,528 per monthly payment
Estimated payoff date
January 2056
Scheduled-only payoff date
January 2056
Interest saved from extra payments
$0

Key mortgage metrics

Principal, interest and optional extra-payment effects.

Payoff time
30 years
Total interest
$510,178
Total paid
$910,178
Interest saved
$0
Time saved
0 months
First-year principal
$4,471
Yearly amortization tableA compact yearly view of principal, interest and remaining balance.
Year 1$25,868 interest and $4,471 principal paid.
$395,529 remaining
Year 2$25,569 interest and $4,770 principal paid.
$390,759 remaining
Year 3$25,249 interest and $5,090 principal paid.
$385,669 remaining
Year 4$24,909 interest and $5,431 principal paid.
$380,238 remaining
Year 5$24,545 interest and $5,794 principal paid.
$374,444 remaining
Year 6$24,157 interest and $6,182 principal paid.
$368,261 remaining
Year 7$23,743 interest and $6,596 principal paid.
$361,665 remaining
Year 8$23,301 interest and $7,038 principal paid.
$354,627 remaining
Year 9$22,830 interest and $7,510 principal paid.
$347,117 remaining
Year 10$22,327 interest and $8,013 principal paid.
$339,105 remaining

Warnings to note

  • No extra payments are entered, so the projected schedule matches the scheduled-payment estimate.
  • Actual lender schedules can differ because of daily interest, fees, rounding, offset/redraw rules or payment allocation.

Save or share this result

Copy a plain-English summary or download a CSV with the inputs, results, warnings and general-estimate note.

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General estimate only

This calculator provides general estimates only. It is not financial, tax, legal, accounting, mortgage or lending advice. It assumes the entered rate and payment frequency stay constant and excludes lender fees, offset/redraw features, tax and local mortgage rules.

How this mortgage amortization calculator works

The calculator estimates a repayment schedule from the loan amount, interest rate, term, repayment type and payment frequency entered. Each row separates estimated interest from principal so the remaining balance can be projected over time.

Principal, interest and balance over time

Early payments usually include more interest because interest is estimated from the outstanding balance. As the balance falls, more of each principal-and-interest payment goes toward principal.

Extra principal payments

Extra payments are treated as additional principal after regular interest is applied. The result compares the entered schedule with the same loan without extra payments.

What this calculator does not include

This calculator does not include lender fees, taxes, insurance, offset or redraw accounts, changing rates, prepayment penalties or lender-specific day-count rules. The result is a general estimate only.

Key terms and assumptionsFormula notes, key terms, source assumptions and limits used in this calculator.

These notes are specific to this calculator. Read the property methodology notes for shared property formulas, region settings and estimate limits.

Amortization
The schedule estimates how principal and interest change over time from the loan amount, rate, term and payment frequency entered.
Principal and interest
Principal-and-interest mode uses a standard amortized payment. Interest-only mode estimates interest payments without scheduled principal reduction.
Extra principal
Extra payments are assumed to reduce principal after regular interest is applied.
Payoff date
The payoff date is an approximate month label based on the selected start date and payment frequency.
Region settings
Region settings change defaults, labels and currency formatting only. They do not convert exchange rates or create country-specific results.
General estimate
Actual lender schedules can differ because of daily interest, fees, rounding, offset/redraw rules, tax and payment allocation.

Guides and methodology

Plain-English notes that explain the assumptions behind related calculators and tools.

Mortgage Repayments ExplainedUnderstand principal, interest, home-loan repayments, total housing cost and regional mortgage wording.Mortgage Payment ExampleA practical mortgage payment scenario showing price, deposit, loan amount, interest rate, term and housing costs.Extra Mortgage Payments: How They Change Interest and Payoff TimeA worked example showing how extra mortgage payments can change estimated interest, payoff time and remaining balance.Property calculator methodologyShared property formulas and assumptions for mortgages, rental metrics, downside scenarios, region settings and estimate limits.

Related calculators

FAQs

What is a mortgage amortization schedule?

It is a table showing each payment period's estimated payment, interest, principal and remaining balance.

Why does interest start higher at the beginning?

Interest is estimated from the outstanding balance. Early in a mortgage, the balance is usually higher, so more of each payment can go toward interest.

Does this include taxes, insurance or HOA/body corporate costs?

No. This calculator focuses on the loan repayment schedule. Use the mortgage payment calculator for broader monthly housing costs.

Can I include extra payments?

Yes. You can enter a recurring extra payment and one optional one-off payment to estimate time and interest saved.

Is fortnightly the same as biweekly?

They are both two-week payment patterns, but labels should match the selected region where possible.

Does the payoff date account for changing rates?

No. It assumes the entered rate stays the same for the projection.

Why are the numbers different from my lender statement?

Lenders can use specific day-count rules, fees, escrow amounts, rounding and payment timing.

Is this mortgage advice?

No. It is a general estimate based on the values entered, not mortgage, financial, tax, legal or lending advice.