Loan & mortgage amortization calculators
Loan calculator, 1 of 5
Every fixed-rate loan repays itself on a timetable. Enter the amount, rate, term and first payment date to see the payment, where each dollar goes, and the full schedule to download or print.
Monthly payment
$489.15 a month
60 payments, Dec 2026 to Nov 2031; the last one is $489.35.
| No. | Date | Payment | Principal | Interest | Balance |
|---|---|---|---|---|---|
| 1 | Dec 2026 | $489.15 | $353.73 | $135.42 | $24,646.27 |
| 2 | Jan 2027 | $489.15 | $355.65 | $133.50 | $24,290.62 |
| 3 | Feb 2027 | $489.15 | $357.58 | $131.57 | $23,933.04 |
| 4 | Mar 2027 | $489.15 | $359.51 | $129.64 | $23,573.53 |
| 5 | Apr 2027 | $489.15 | $361.46 | $127.69 | $23,212.07 |
| 6 | May 2027 | $489.15 | $363.42 | $125.73 | $22,848.65 |
| 7 | Jun 2027 | $489.15 | $365.39 | $123.76 | $22,483.26 |
| 8 | Jul 2027 | $489.15 | $367.37 | $121.78 | $22,115.89 |
| 9 | Aug 2027 | $489.15 | $369.36 | $119.79 | $21,746.53 |
| 10 | Sep 2027 | $489.15 | $371.36 | $117.79 | $21,375.17 |
| 11 | Oct 2027 | $489.15 | $373.37 | $115.78 | $21,001.80 |
| 12 | Nov 2027 | $489.15 | $375.39 | $113.76 | $20,626.41 |
| 13 | Dec 2027 | $489.15 | $377.42 | $111.73 | $20,248.99 |
| 14 | Jan 2028 | $489.15 | $379.47 | $109.68 | $19,869.52 |
| 15 | Feb 2028 | $489.15 | $381.52 | $107.63 | $19,488.00 |
| 16 | Mar 2028 | $489.15 | $383.59 | $105.56 | $19,104.41 |
| 17 | Apr 2028 | $489.15 | $385.67 | $103.48 | $18,718.74 |
| 18 | May 2028 | $489.15 | $387.76 | $101.39 | $18,330.98 |
| 19 | Jun 2028 | $489.15 | $389.86 | $99.29 | $17,941.12 |
| 20 | Jul 2028 | $489.15 | $391.97 | $97.18 | $17,549.15 |
| 21 | Aug 2028 | $489.15 | $394.09 | $95.06 | $17,155.06 |
| 22 | Sep 2028 | $489.15 | $396.23 | $92.92 | $16,758.83 |
| 23 | Oct 2028 | $489.15 | $398.37 | $90.78 | $16,360.46 |
| 24 | Nov 2028 | $489.15 | $400.53 | $88.62 | $15,959.93 |
| 25 | Dec 2028 | $489.15 | $402.70 | $86.45 | $15,557.23 |
| 26 | Jan 2029 | $489.15 | $404.88 | $84.27 | $15,152.35 |
| 27 | Feb 2029 | $489.15 | $407.07 | $82.08 | $14,745.28 |
| 28 | Mar 2029 | $489.15 | $409.28 | $79.87 | $14,336.00 |
| 29 | Apr 2029 | $489.15 | $411.50 | $77.65 | $13,924.50 |
| 30 | May 2029 | $489.15 | $413.73 | $75.42 | $13,510.77 |
| 31 | Jun 2029 | $489.15 | $415.97 | $73.18 | $13,094.80 |
| 32 | Jul 2029 | $489.15 | $418.22 | $70.93 | $12,676.58 |
| 33 | Aug 2029 | $489.15 | $420.49 | $68.66 | $12,256.09 |
| 34 | Sep 2029 | $489.15 | $422.76 | $66.39 | $11,833.33 |
| 35 | Oct 2029 | $489.15 | $425.05 | $64.10 | $11,408.28 |
| 36 | Nov 2029 | $489.15 | $427.36 | $61.79 | $10,980.92 |
| 37 | Dec 2029 | $489.15 | $429.67 | $59.48 | $10,551.25 |
| 38 | Jan 2030 | $489.15 | $432.00 | $57.15 | $10,119.25 |
| 39 | Feb 2030 | $489.15 | $434.34 | $54.81 | $9,684.91 |
| 40 | Mar 2030 | $489.15 | $436.69 | $52.46 | $9,248.22 |
| 41 | Apr 2030 | $489.15 | $439.06 | $50.09 | $8,809.16 |
| 42 | May 2030 | $489.15 | $441.43 | $47.72 | $8,367.73 |
| 43 | Jun 2030 | $489.15 | $443.82 | $45.33 | $7,923.91 |
| 44 | Jul 2030 | $489.15 | $446.23 | $42.92 | $7,477.68 |
| 45 | Aug 2030 | $489.15 | $448.65 | $40.50 | $7,029.03 |
| 46 | Sep 2030 | $489.15 | $451.08 | $38.07 | $6,577.95 |
| 47 | Oct 2030 | $489.15 | $453.52 | $35.63 | $6,124.43 |
| 48 | Nov 2030 | $489.15 | $455.98 | $33.17 | $5,668.45 |
| 49 | Dec 2030 | $489.15 | $458.45 | $30.70 | $5,210.00 |
| 50 | Jan 2031 | $489.15 | $460.93 | $28.22 | $4,749.07 |
| 51 | Feb 2031 | $489.15 | $463.43 | $25.72 | $4,285.64 |
| 52 | Mar 2031 | $489.15 | $465.94 | $23.21 | $3,819.70 |
| 53 | Apr 2031 | $489.15 | $468.46 | $20.69 | $3,351.24 |
| 54 | May 2031 | $489.15 | $471.00 | $18.15 | $2,880.24 |
| 55 | Jun 2031 | $489.15 | $473.55 | $15.60 | $2,406.69 |
| 56 | Jul 2031 | $489.15 | $476.11 | $13.04 | $1,930.58 |
| 57 | Aug 2031 | $489.15 | $478.69 | $10.46 | $1,451.89 |
| 58 | Sep 2031 | $489.15 | $481.29 | $7.86 | $970.60 |
| 59 | Oct 2031 | $489.15 | $483.89 | $5.26 | $486.71 |
| 60 | Nov 2031 | $489.35 | $486.71 | $2.64 | $0.00 |
| Total | $29,349.20 | $25,000.00 | $4,349.20 | $0.00 |
Educational use only — not financial advice. The rate and terms are whatever you enter; the defaults are examples, not quotes. Your lender's documents are the authority on your loan.
A fixed-rate loan has one level payment, worked out so the balance reaches zero on the last payment:
M = P × r ÷ (1 − (1 + r)−n)
P is the amount borrowed, r the yearly rate divided by 12 and n the number of monthly payments. Each month the lender charges interest on the balance (balance × r); whatever is left of the payment repays principal. Early on the balance is large, so interest takes a big share; as it shrinks, more of the same payment goes to principal, which is why the columns in the chart change colour over time.
Worked example: $25,000 at 6.5% for 5 years. r = 0.065 ÷ 12 = 0.0054167 and n = 60, so M = $489.15. The first month's interest is $25,000 × 0.0054167 = $135.42, leaving $353.73 for principal. Over 60 payments you pay $4,349.20 of interest.
Payments are rounded to the cent, so the last one is adjusted by a few cents to land exactly on zero. Switch the table to "By year" for calendar-year totals, which is handy for comparing against a year-end statement.
Four more ways to look at the same kind of loan.
Principal and interest plus property tax, insurance, PMI and HOA dues, all as your own figures.
Monthly, yearly or one-off extra payments: months saved and interest saved.
Two or three offers with their fees: payment, total cost and an APR estimate.
How long closing costs take to pay back, and whether a new loan costs less overall.
Two free services for the online side of shopping for a loan.
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Visit WebTraceCheckInterest is charged on the balance, and the balance is largest at the start. On a 30-year mortgage at 6.5%, interest is about 86% of the first payment. The payment never changes, so as the balance falls the interest part shrinks and the principal part grows.
Yes, for any fixed-rate loan repaid in equal monthly payments. Enter the amount you borrow, the interest rate and the term. Variable-rate loans, interest-only periods and balloon payments follow different schedules.
Lenders may count interest by the day rather than by the month, round differently, or set the first payment date further from the loan date. The totals here use the standard monthly method and should land within cents to a few dollars.