Mortgage Amortization Calculator
Calculate your monthly mortgage payments and see the full amortization schedule showing how each payment is split between principal and interest over the loan term.
Published by:
isCalculator Editorial Team
Was this calculator helpful?
How to use this tool?
How to Use the Mortgage Amortization Calculator
- Enter Loan Amount – Type the total loan amount in dollars (e.g., 300000). Must be greater than 0.
- Enter Annual Interest Rate – Input the yearly interest rate as a percentage (e.g., 4.5). Must be between 0 and 100.
- Enter Loan Term – Specify the loan duration in years (e.g., 30). Must be between 1 and 50.
- Click "Calculate" – Press the button to compute your results.
- Monthly Payment – Your fixed monthly installment.
- Total Interest Paid – The total interest over the loan term.
- Total Payment – The sum of all payments (principal + interest).
- Amortization Schedule – A table showing the first 12 months: payment breakdown into principal and interest, plus remaining balance.
What You Get:
Note: All inputs must be positive numbers. If any field is invalid, an error message will appear. The calculator uses the standard amortization formula: M = P × [r(1+r)^n] / [(1+r)^n – 1].
Previous Results
| Result | Inputs | Date |
|---|
Frequently Asked Questions
Mortgage amortization is the process of paying off a home loan over time through regular monthly payments. Each payment covers both principal and interest, with the interest portion decreasing over time.
The monthly payment is calculated using the formula M = P * [r(1+r)^n] / [(1+r)^n - 1], where P is the loan amount, r is the monthly interest rate, and n is the total number of payments.
Yes, this calculator works for any fixed-rate loan with equal monthly payments, such as mortgages, auto loans, or personal loans.
