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
$1,599
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
$240,000
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.

Breakdown
Payment DatePrincipalInterestBalance
February '20$0$0$240,000
March '20$338$825$239,662
April '20$339$824$239,323
May '20$340$823$238,982
June '20$342$822$238,640
July '20$343$820$238,298
August '20$344$819$237,954
September '20$345$818$237,608
October '20$346$817$237,262
November '20$348$816$236,914
December '20$349$814$236,566
January '21$350$813$236,216
February '21$351$812$235,864
March '21$352$811$235,512
April '21$354$810$235,159
May '21$355$808$234,804
June '21$356$807$234,448
July '21$357$806$234,090
August '21$358$805$233,732
September '21$360$803$233,372
October '21$361$802$233,011
November '21$362$801$232,649
December '21$363$800$232,286
January '22$365$798$231,921
February '22$366$797$231,555
March '22$367$796$231,188
April '22$368$795$230,819
May '22$370$793$230,450
June '22$371$792$230,079
July '22$372$791$229,707
August '22$374$790$229,333
September '22$375$788$228,958
October '22$376$787$228,582
November '22$377$786$228,205
December '22$379$784$227,826
January '23$380$783$227,446
February '23$381$782$227,065
March '23$383$781$226,682
April '23$384$779$226,298
May '23$385$778$225,913
June '23$387$777$225,526
July '23$388$775$225,138
August '23$389$774$224,749
September '23$391$773$224,358
October '23$392$771$223,966
November '23$393$770$223,573
December '23$395$769$223,179
January '24$396$767$222,783
February '24$397$766$222,385
March '24$399$764$221,987
April '24$400$763$221,586
May '24$401$762$221,185
June '24$403$760$220,782
July '24$404$759$220,378
August '24$406$758$219,972
September '24$407$756$219,565
October '24$408$755$219,157
November '24$410$753$218,747
December '24$411$752$218,336
January '25$413$751$217,923
February '25$414$749$217,509
March '25$415$748$217,094
April '25$417$746$216,677
May '25$418$745$216,259
June '25$420$743$215,839
July '25$421$742$215,418
August '25$423$740$214,995
September '25$424$739$214,571
October '25$426$738$214,145
November '25$427$736$213,718
December '25$429$735$213,290
January '26$430$733$212,860
February '26$431$732$212,428
March '26$433$730$211,995
April '26$434$729$211,561
May '26$436$727$211,125
June '26$437$726$210,688
July '26$439$724$210,249
August '26$440$723$209,808
September '26$442$721$209,366
October '26$443$720$208,923
November '26$445$718$208,478
December '26$447$717$208,031
January '27$448$715$207,583
February '27$450$714$207,134
March '27$451$712$206,683
April '27$453$710$206,230
May '27$454$709$205,776
June '27$456$707$205,320
July '27$457$706$204,862
August '27$459$704$204,403
September '27$461$703$203,943
October '27$462$701$203,481
November '27$464$699$203,017
December '27$465$698$202,552
January '28$467$696$202,085
February '28$468$695$201,616
March '28$470$693$201,146
April '28$472$691$200,675
May '28$473$690$200,201
June '28$475$688$199,726
July '28$477$687$199,250
August '28$478$685$198,771
September '28$480$683$198,292
October '28$482$682$197,810
November '28$483$680$197,327
December '28$485$678$196,842
January '29$487$677$196,356
February '29$488$675$195,867
March '29$490$673$195,377
April '29$492$672$194,886
May '29$493$670$194,393
June '29$495$668$193,898
July '29$497$667$193,401
August '29$498$665$192,903
September '29$500$663$192,403
October '29$502$661$191,901
November '29$503$660$191,397
December '29$505$658$190,892
January '30$507$656$190,385
February '30$509$654$189,877
March '30$510$653$189,366
April '30$512$651$188,854
May '30$514$649$188,340
June '30$516$647$187,824
July '30$518$646$187,307
August '30$519$644$186,787
September '30$521$642$186,266
October '30$523$640$185,743
November '30$525$638$185,219
December '30$526$637$184,692
January '31$528$635$184,164
February '31$530$633$183,634
March '31$532$631$183,102
April '31$534$629$182,568
May '31$536$628$182,033
June '31$537$626$181,495
July '31$539$624$180,956
August '31$541$622$180,415
September '31$543$620$179,872
October '31$545$618$179,327
November '31$547$616$178,780
December '31$549$615$178,232
January '32$550$613$177,681
February '32$552$611$177,129
March '32$554$609$176,575
April '32$556$607$176,018
May '32$558$605$175,460
June '32$560$603$174,900
July '32$562$601$174,338
August '32$564$599$173,774
September '32$566$597$173,209
October '32$568$595$172,641
November '32$570$593$172,071
December '32$572$591$171,499
January '33$574$590$170,926
February '33$576$588$170,350
March '33$578$586$169,773
April '33$580$584$169,193
May '33$582$582$168,612
June '33$584$580$168,028
July '33$586$578$167,442
August '33$588$576$166,855
September '33$590$574$166,265
October '33$592$572$165,674
November '33$594$570$165,080
December '33$596$567$164,484
January '34$598$565$163,887
February '34$600$563$163,287
March '34$602$561$162,685
April '34$604$559$162,081
May '34$606$557$161,475
June '34$608$555$160,867
July '34$610$553$160,257
August '34$612$551$159,644
September '34$614$549$159,030
October '34$616$547$158,414
November '34$619$545$157,795
December '34$621$542$157,174
January '35$623$540$156,551
February '35$625$538$155,926
March '35$627$536$155,299
April '35$629$534$154,670
May '35$631$532$154,038
June '35$634$530$153,405
July '35$636$527$152,769
August '35$638$525$152,131
September '35$640$523$151,491
October '35$642$521$150,848
November '35$645$519$150,204
December '35$647$516$149,557
January '36$649$514$148,908
February '36$651$512$148,256
March '36$654$510$147,603
April '36$656$507$146,947
May '36$658$505$146,289
June '36$660$503$145,629
July '36$663$501$144,966
August '36$665$498$144,301
September '36$667$496$143,634
October '36$669$494$142,965
November '36$672$491$142,293
December '36$674$489$141,619
January '37$676$487$140,943
February '37$679$484$140,264
March '37$681$482$139,583
April '37$683$480$138,900
May '37$686$477$138,214
June '37$688$475$137,526
July '37$690$473$136,836
August '37$693$470$136,143
September '37$695$468$135,448
October '37$698$466$134,750
November '37$700$463$134,050
December '37$702$461$133,348
January '38$705$458$132,643
February '38$707$456$131,936
March '38$710$454$131,226
April '38$712$451$130,514
May '38$715$449$129,800
June '38$717$446$129,083
July '38$719$444$128,363
August '38$722$441$127,641
September '38$724$439$126,917
October '38$727$436$126,190
November '38$729$434$125,461
December '38$732$431$124,729
January '39$734$429$123,994
February '39$737$426$123,257
March '39$739$424$122,518
April '39$742$421$121,776
May '39$745$419$121,031
June '39$747$416$120,284
July '39$750$413$119,535
August '39$752$411$118,782
September '39$755$408$118,027
October '39$757$406$117,270
November '39$760$403$116,510
December '39$763$401$115,747
January '40$765$398$114,982
February '40$768$395$114,214
March '40$771$393$113,444
April '40$773$390$112,670
May '40$776$387$111,894
June '40$779$385$111,116
July '40$781$382$110,335
August '40$784$379$109,551
September '40$787$377$108,764
October '40$789$374$107,975
November '40$792$371$107,183
December '40$795$368$106,388
January '41$797$366$105,591
February '41$800$363$104,791
March '41$803$360$103,988
April '41$806$357$103,182
May '41$808$355$102,374
June '41$811$352$101,562
July '41$814$349$100,748
August '41$817$346$99,931
September '41$820$344$99,112
October '41$822$341$98,289
November '41$825$338$97,464
December '41$828$335$96,636
January '42$831$332$95,805
February '42$834$329$94,971
March '42$837$326$94,134
April '42$840$324$93,295
May '42$842$321$92,452
June '42$845$318$91,607
July '42$848$315$90,759
August '42$851$312$89,908
September '42$854$309$89,053
October '42$857$306$88,196
November '42$860$303$87,336
December '42$863$300$86,474
January '43$866$297$85,608
February '43$869$294$84,739
March '43$872$291$83,867
April '43$875$288$82,992
May '43$878$285$82,114
June '43$881$282$81,233
July '43$884$279$80,349
August '43$887$276$79,462
September '43$890$273$78,572
October '43$893$270$77,679
November '43$896$267$76,783
December '43$899$264$75,884
January '44$902$261$74,982
February '44$905$258$74,076
March '44$909$255$73,168
April '44$912$252$72,256
May '44$915$248$71,341
June '44$918$245$70,423
July '44$921$242$69,502
August '44$924$239$68,578
September '44$927$236$67,651
October '44$931$233$66,720
November '44$934$229$65,786
December '44$937$226$64,849
January '45$940$223$63,909
February '45$943$220$62,965
March '45$947$216$62,019
April '45$950$213$61,069
May '45$953$210$60,116
June '45$957$207$59,159
July '45$960$203$58,199
August '45$963$200$57,236
September '45$966$197$56,270
October '45$970$193$55,300
November '45$973$190$54,327
December '45$976$187$53,350
January '46$980$183$52,371
February '46$983$180$51,388
March '46$987$177$50,401
April '46$990$173$49,411
May '46$993$170$48,418
June '46$997$166$47,421
July '46$1,000$163$46,421
August '46$1,004$160$45,417
September '46$1,007$156$44,410
October '46$1,010$153$43,400
November '46$1,014$149$42,386
December '46$1,017$146$41,368
January '47$1,021$142$40,347
February '47$1,024$139$39,323
March '47$1,028$135$38,295
April '47$1,032$132$37,263
May '47$1,035$128$36,228
June '47$1,039$125$35,190
July '47$1,042$121$34,148
August '47$1,046$117$33,102
September '47$1,049$114$32,052
October '47$1,053$110$30,999
November '47$1,057$107$29,943
December '47$1,060$103$28,883
January '48$1,064$99$27,819
February '48$1,068$96$26,751
March '48$1,071$92$25,680
April '48$1,075$88$24,605
May '48$1,079$85$23,527
June '48$1,082$81$22,444
July '48$1,086$77$21,358
August '48$1,090$73$20,269
September '48$1,093$70$19,175
October '48$1,097$66$18,078
November '48$1,101$62$16,977
December '48$1,105$58$15,872
January '49$1,109$55$14,763
February '49$1,112$51$13,651
March '49$1,116$47$12,535
April '49$1,120$43$11,415
May '49$1,124$39$10,291
June '49$1,128$35$9,163
July '49$1,132$31$8,031
August '49$1,136$28$6,896
September '49$1,139$24$5,756
October '49$1,143$20$4,613
November '49$1,147$16$3,466
December '49$1,151$12$2,314
January '50$1,155$8$1,159
February '50$1,159$4$0
Monthly payment
Principal & interest

$1,163

Property taxes

Homeowners insurance

Homeowners association (HOA) fees

Compare loan types

Total principal: $240,000

Loan Term
30 year fixedYour input
15 year fixed30 year fixed
Monthly Payment$1,599$2,111$1,516
Mortgage Rate4.125%3.152%*3.516%*
Total interest paid
$178,737
$61,499
$148,747
Loan Term
30 year fixedYour input
15 year fixed30 year fixed
Monthly Payment$1,599$2,111$1,516
Mortgage Rate4.125%3.152%*3.516%*
Total interest paid
$178,737
$61,499
$148,747
Refine Results
Refine your results
Principal & interest

$1,163

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What's behind the numbers in our mortgage amortization calculator

An amortization calculator enables you to take a snapshot of the interest and principal (the debt) paid in any month of the loan.

"Amortization" is a word for the way debt is repaid in a mortgage, where each monthly payment is the same (excluding taxes and insurance). In the beginning years, most of each payment goes toward interest and only a little goes to debt reduction. That ratio gradually changes, and it flips in the later years of the mortgage. This is amortization at work.

For example, if you get a $200,000 mortgage for 30 years with an interest rate of 4.25%, your monthly principal and interest payments will be $984:

  • With the first payment, $276 will go to principal (reducing the debt) and $708 will go to interest.
  • Fast-forward 10 years to the 120th payment and the payment is still $984, but $420 goes to principal and $564 goes to interest.
  • In the next-to-last payment, $977 goes to principal and $7 goes to interest.

What the mortgage amortization calculator does

Before you get a mortgage, you might want to know how much interest you will pay in total. If you already have a mortgage, you might want to know how much debt you've paid off and how much remains. Or you might want to compare different loan terms before refinancing. NerdWallet's mortgage amortization schedule calculator can help you do all of those things. It allows you to figure out:

  • How much a particular month's house payment goes toward principal and how much goes toward interest. This information is viewed on an "amortization schedule" — a table that breaks down each payment month by month.
  • How much interest you will pay over the life of the loan.
  • In any given month, how much you still owe.
  • How different terms, like a 30-year versus a 15-year, compare in monthly payments and interest paid over the life of the loan.

» CALCULATE: 15-year or 30-year mortgage?

How to use our mortgage amortization calculator

To get the most out of the mortgage amortization calculator, you can personalize it with your own numbers. Tap "Refine Results."

To get the most out of the mortgage amortization calculator, you can personalize it with your own numbers. Fill in the data fields to the right of the graph.

The data fields contain the following inputs:

  • Location.
  • The value or price of the home.
  • The mortgage interest rate.
  • The down payment (or, in the case of a refinance, the value of the home's equity).
  • The loan's term, from one to 30 years.

Fill in the data fields, then tap "Save & exit" near the top of the screen.

The calculator has four sections:

The calculator has four tabs:

  • "Amortization schedule" has the graph. Move the vertical slider to see how much you still owe and how much principal and interest you have paid at the end of each 12-month period.
  • "Breakdown" shows, month by month, the remaining loan balance after that payment has been made. On computers and tablets, it also displays a mortgage amortization table detailing the principal and interest paid each month.
  • "Monthly payment" shows the estimated monthly payment, including principal and interest, property taxes and homeowners insurance.
  • "Compare loan types" gives a side-by-side view of the monthly payments and total interest paid for three loans. From left to right, they are the mortgage whose interest rate and term you specified, and a 15-year and 30-year loan at today's mortgage rates.

How to interpret your results

By playing around with the mortgage amortization calculator, you can:

  • See how much money you would save in the long run by getting a shorter- term loan, whether you're buying or refinancing.
  • See how much principal you have paid at the end of each year.
  • Take the first step toward calculating how much equity you have, and whether you can cancel private mortgage insurance. Use the slider to see approximately how much principal you have paid.Add that to your down payment.If that sum is more than 20% of the home's value when you got the loan, you might be able to cancel mortgage insurance.

» MORE: Calculate how much you would save by refinancing

Can I use the mortgage amortization calculator for an adjustable rate mortgage?

Probably not. The initial interest rate term would be represented well on an amortization schedule, but after the teaser interest rate term ends, it would be difficult to account for future interest rate adjustments.

Any amortization schedule on an ARM is really just an estimate and subject to substantial change.

Why does it take so long to pay down my principal?

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.