Mortgage amortization calculator

Your amortization schedule will show you how much of your monthly mortgage payments you spend toward principal and interest.
Your monthly payment
$2,456
30 year fixed loan term
Amortization schedule

See how your payments change over time for your 30 year fixed loan term

At year 0

30 year fixed loan term

Remaining
$400,000
Principal Paid
$0
Interest Paid
$0
Year 0
drag me
1
30
Years

Insights

We’ll share an interesting insight here for key milestones in your payoff schedule.

Monthly payment

Principal & interest

$1,889

Property taxes

Homeowners insurance

Homeowners association (HOA) fees

Compare loan types

Total principal: $400,000

Loan Term
30 year fixedYour input
15 year fixed30 year fixed
Monthly Payment$2,456$3,370$2,456
Mortgage Rate3.91%3.21%*3.91%*
Total interest paid
$280,027
$104,523
$280,027
Loan Term
30 year fixedYour input
15 year fixed30 year fixed
Monthly Payment$2,456$3,370$2,456
Mortgage Rate3.91%3.21%*3.91%*
Total interest paid
$280,027
$104,523
$280,027
Refine your results

Principal & interest

$1,889

Location

Home value

Interest rate

Down payment (20%)

Loan term

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How we got here
Determining your remaining loan balance
Determining your remaining loan balance

The NerdWallet amortization calculator gives you a detailed view of your projected mortgage payment schedule. Let’s say this first: it can be an intimidating report. Row after row of payments, with details on the allocation of each payment to interest (a lot in the early years of the loan) and to principal (not so much, at first).

The graph above may tell the story best. A gentle arc that illustrates paying down the loan and another of rising principal paid.

By sliding the year markers left and right, you can easily see the progress of your mortgage payoff on any given date. You can also adjust the interest rate and loan term to see how a future refinance could change your financial situation. And you can explore possible benefits of making accelerated principal payments to reduce your home loan debt.

Other benefits of using our mortgage amortization calculator:

  1. Seeing when private mortgage insurance premiums might be eliminated. Once principal reduction — and property value appreciation — grow your home equity to 20% or more, you’ll likely have the chance to rid yourself of PMI payments.
  2. Determining when shortening your loan term (say from 30 years to 15, or 10) might make sense.
  3. Performing your own “countdown to loan payoff”.

See all

Mortgage amortization 101

The simple answer is: the lender gets paid first. In the early years of your mortgage, your monthly loan payment is heavily weighted to paying interest. Just a tiny reduction of the principal loan balance occurs with each payment at this stage. The rest of the payment often goes to insurance, taxes and other expenses wrapped into the monthly amount due.

As years pass, you’ll begin to see more of your payment going to principal — a greater amount is reducing the debt and less is being spent on interest.