Mortgage Amortization Schedule
See every monthly payment split into principal, interest, and the balance left on a fixed-rate loan.
Key concepts
Amortization schedule
The month-by-month record of payment, interest, principal, and remaining balance until the loan reaches zero.
Interest portion
Early payments are mostly interest because interest is charged on the full remaining balance. Principal share grows later.
What this tool does
What the table shows
Each row is one month: the payment, how much is interest, how much reduces principal, and the balance after that payment. The chart compresses the same schedule into year-end balances.
Compare a term or a rate
Scenario B keeps the same loan amount and changes the rate, the term, or both — for example 30 years versus 15, or today’s rate versus a quoted refinance rate. Open the payment or refinance calculators when you need add-ons or closing costs.
How each row is built
Interest = balance × (annual rate / 12) Principal = payment − interest New balance = balance − principal
The payment is the standard fixed-rate formula so the loan ends at the term you set, assuming no extra principal. This schedule does not include taxes, insurance, PMI, or extra payments. The last row clears any leftover cents of balance.
Worked example
On a $300,000 loan at 6.5% for 30 years, month 1 is mostly interest and only a smaller slice of principal. By the later years the split flips. Switch Scenario B to 15 years at the same rate and the table shows a higher payment, a faster drop in balance, and less interest overall.
Common mistakes
- Reading only the first row and assuming every month has the same interest.
- Expecting escrow (tax and insurance) inside this table. Those are not part of the loan balance.
- Comparing two terms without noticing that the loan amount is shared and only rate and term change in Scenario B.
Methodology on this page
Fixed-rate Price-style amortization, one row per month, nominal annual rate divided by 12. No extra principal, fees, or escrow. Educational only — not financial advice and not a substitute for the schedule your servicer posts.
Read the full FinTools4U methodology →Frequently asked questions
Is every month listed?
Yes. The table is one row per month for the full term. Scroll to move through it. The chart summarizes year-end balances.
Can I compare 15 and 30 years?
Yes. Scenario B changes the rate and the term while keeping the same loan amount.
Does the balance include escrow?
No. Tax and insurance are not in this schedule. Use the payment calculator if you want them as a separate housing add-on.
Is this financial advice?
No. The schedule is an educational projection that runs in your browser. PMMS 30-year fills the mortgage rate from the Freddie Mac survey, shows the survey date, and you can still edit the field. The link stores the number you apply. Indicative rate, not a recommendation.
Sources & further reading
- CFPB — Owning a Home — How mortgage payments are structured for borrowers.
- CFPB — Interest rate versus APR — The schedule uses the note rate, not APR.
Related guide
How to read a mortgage amortization schedule
What each row of an amortization schedule means, why early payments are mostly interest, and how to compare two terms or rates.
How rent versus buy is calculated
Net cost of owning and renting over a horizon you choose, what the optional rates change, and when the FinTools4U comparison is not enough.
Related calculators
Mortgage Payment
Add optional taxes, insurance, and PMI on top of this payment.
Refinance Break-even
See whether a new schedule saves enough to cover closing costs.
Extra Payments
Shorten the schedule by paying extra principal.
Home Affordability
Start from income and debts, then open this schedule for the loan you can carry.
Rent vs Buy
The schedule shows the split. Rent versus buy asks whether the stay is cheaper than renting.