Mortgage Calculators
Amortization Calculator
Produce a full amortisation schedule for any loan, showing how each payment splits between interest and principal and when the balance clears.
Scheduled payment
$1,498.88
- Total interest
- $289,595
- Payoff time
- 360 months
- Interest saved by overpaying
- $0
Amortisation schedule — yearly
| Year | Interest paid | Principal paid | Balance remaining |
|---|---|---|---|
| 1 | $14,916 | $3,070 | $246,930 |
| 2 | $14,727 | $3,259 | $243,671 |
| 3 | $14,526 | $3,460 | $240,210 |
| 4 | $14,313 | $3,674 | $236,536 |
| 5 | $14,086 | $3,900 | $232,636 |
| 6 | $13,846 | $4,141 | $228,495 |
| 7 | $13,590 | $4,396 | $224,098 |
| 8 | $13,319 | $4,668 | $219,431 |
| 9 | $13,031 | $4,955 | $214,475 |
| 10 | $12,725 | $5,261 | $209,214 |
How this calculator works
Interest_t = Balance_{t−1} × r; Principal_t = Payment − Interest_t
- r
- the monthly interest rate
- Balance
- the amount still outstanding
Important considerations
- Overpayments are assumed to reduce the balance immediately with no penalty.
- Rounding means the final payment is usually slightly different.
Related calculators
- Mortgage CalculatorEstimate your total monthly mortgage payment and see the amortisation schedule.
- Loan Payment CalculatorMonthly repayment, total interest and the effect of paying extra each month.
- Mortgage Payment CalculatorPrincipal and interest payment on any home loan amount.
- Interest-Only Mortgage CalculatorPayments before and after an interest-only period ends.
- Debt Payoff CalculatorPayoff date and interest saved from paying extra.
- Mortgage Affordability CalculatorHow much house your income and debts realistically support.
Learn more
How Loan Calculators Work — And What They Leave Out
The amortisation formula behind repayment calculators, and the costs most tools exclude.
Fixed vs. Variable Mortgage Rates: A Side-by-Side Comparison
How rate structure affects monthly payments, total interest, and the risk you carry over a full loan term.
When Refinancing a Mortgage Changes Your Total Cost
How break fees, remaining term, and the new rate combine to decide whether refinancing saves anything.
Home Loan Deposits and Loan-to-Value Bands, Explained
What a deposit changes about pricing, and why lenders group applications into LTV bands.
Terms used here
Frequently asked questions
Why is the early interest so high?
Interest is charged on the outstanding balance, which is at its largest at the start.
Disclaimer
Legamoney calculators are educational tools. Results are estimates based on the figures you enter and do not constitute financial, tax or legal advice.
Last reviewed 2026-08-01