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
January '20$0$0$240,000
February '20$338$825$239,662
March '20$339$824$239,323
April '20$340$823$238,982
May '20$342$822$238,640
June '20$343$820$238,298
July '20$344$819$237,954
August '20$345$818$237,608
September '20$346$817$237,262
October '20$348$816$236,914
November '20$349$814$236,566
December '20$350$813$236,216
January '21$351$812$235,864
February '21$352$811$235,512
March '21$354$810$235,159
April '21$355$808$234,804
May '21$356$807$234,448
June '21$357$806$234,090
July '21$358$805$233,732
August '21$360$803$233,372
September '21$361$802$233,011
October '21$362$801$232,649
November '21$363$800$232,286
December '21$365$798$231,921
January '22$366$797$231,555
February '22$367$796$231,188
March '22$368$795$230,819
April '22$370$793$230,450
May '22$371$792$230,079
June '22$372$791$229,707
July '22$374$790$229,333
August '22$375$788$228,958
September '22$376$787$228,582
October '22$377$786$228,205
November '22$379$784$227,826
December '22$380$783$227,446
January '23$381$782$227,065
February '23$383$781$226,682
March '23$384$779$226,298
April '23$385$778$225,913
May '23$387$777$225,526
June '23$388$775$225,138
July '23$389$774$224,749
August '23$391$773$224,358
September '23$392$771$223,966
October '23$393$770$223,573
November '23$395$769$223,179
December '23$396$767$222,783
January '24$397$766$222,385
February '24$399$764$221,987
March '24$400$763$221,586
April '24$401$762$221,185
May '24$403$760$220,782
June '24$404$759$220,378
July '24$406$758$219,972
August '24$407$756$219,565
September '24$408$755$219,157
October '24$410$753$218,747
November '24$411$752$218,336
December '24$413$751$217,923
January '25$414$749$217,509
February '25$415$748$217,094
March '25$417$746$216,677
April '25$418$745$216,259
May '25$420$743$215,839
June '25$421$742$215,418
July '25$423$740$214,995
August '25$424$739$214,571
September '25$426$738$214,145
October '25$427$736$213,718
November '25$429$735$213,290
December '25$430$733$212,860
January '26$431$732$212,428
February '26$433$730$211,995
March '26$434$729$211,561
April '26$436$727$211,125
May '26$437$726$210,688
June '26$439$724$210,249
July '26$440$723$209,808
August '26$442$721$209,366
September '26$443$720$208,923
October '26$445$718$208,478
November '26$447$717$208,031
December '26$448$715$207,583
January '27$450$714$207,134
February '27$451$712$206,683
March '27$453$710$206,230
April '27$454$709$205,776
May '27$456$707$205,320
June '27$457$706$204,862
July '27$459$704$204,403
August '27$461$703$203,943
September '27$462$701$203,481
October '27$464$699$203,017
November '27$465$698$202,552
December '27$467$696$202,085
January '28$468$695$201,616
February '28$470$693$201,146
March '28$472$691$200,675
April '28$473$690$200,201
May '28$475$688$199,726
June '28$477$687$199,250
July '28$478$685$198,771
August '28$480$683$198,292
September '28$482$682$197,810
October '28$483$680$197,327
November '28$485$678$196,842
December '28$487$677$196,356
January '29$488$675$195,867
February '29$490$673$195,377
March '29$492$672$194,886
April '29$493$670$194,393
May '29$495$668$193,898
June '29$497$667$193,401
July '29$498$665$192,903
August '29$500$663$192,403
September '29$502$661$191,901
October '29$503$660$191,397
November '29$505$658$190,892
December '29$507$656$190,385
January '30$509$654$189,877
February '30$510$653$189,366
March '30$512$651$188,854
April '30$514$649$188,340
May '30$516$647$187,824
June '30$518$646$187,307
July '30$519$644$186,787
August '30$521$642$186,266
September '30$523$640$185,743
October '30$525$638$185,219
November '30$526$637$184,692
December '30$528$635$184,164
January '31$530$633$183,634
February '31$532$631$183,102
March '31$534$629$182,568
April '31$536$628$182,033
May '31$537$626$181,495
June '31$539$624$180,956
July '31$541$622$180,415
August '31$543$620$179,872
September '31$545$618$179,327
October '31$547$616$178,780
November '31$549$615$178,232
December '31$550$613$177,681
January '32$552$611$177,129
February '32$554$609$176,575
March '32$556$607$176,018
April '32$558$605$175,460
May '32$560$603$174,900
June '32$562$601$174,338
July '32$564$599$173,774
August '32$566$597$173,209
September '32$568$595$172,641
October '32$570$593$172,071
November '32$572$591$171,499
December '32$574$590$170,926
January '33$576$588$170,350
February '33$578$586$169,773
March '33$580$584$169,193
April '33$582$582$168,612
May '33$584$580$168,028
June '33$586$578$167,442
July '33$588$576$166,855
August '33$590$574$166,265
September '33$592$572$165,674
October '33$594$570$165,080
November '33$596$567$164,484
December '33$598$565$163,887
January '34$600$563$163,287
February '34$602$561$162,685
March '34$604$559$162,081
April '34$606$557$161,475
May '34$608$555$160,867
June '34$610$553$160,257
July '34$612$551$159,644
August '34$614$549$159,030
September '34$616$547$158,414
October '34$619$545$157,795
November '34$621$542$157,174
December '34$623$540$156,551
January '35$625$538$155,926
February '35$627$536$155,299
March '35$629$534$154,670
April '35$631$532$154,038
May '35$634$530$153,405
June '35$636$527$152,769
July '35$638$525$152,131
August '35$640$523$151,491
September '35$642$521$150,848
October '35$645$519$150,204
November '35$647$516$149,557
December '35$649$514$148,908
January '36$651$512$148,256
February '36$654$510$147,603
March '36$656$507$146,947
April '36$658$505$146,289
May '36$660$503$145,629
June '36$663$501$144,966
July '36$665$498$144,301
August '36$667$496$143,634
September '36$669$494$142,965
October '36$672$491$142,293
November '36$674$489$141,619
December '36$676$487$140,943
January '37$679$484$140,264
February '37$681$482$139,583
March '37$683$480$138,900
April '37$686$477$138,214
May '37$688$475$137,526
June '37$690$473$136,836
July '37$693$470$136,143
August '37$695$468$135,448
September '37$698$466$134,750
October '37$700$463$134,050
November '37$702$461$133,348
December '37$705$458$132,643
January '38$707$456$131,936
February '38$710$454$131,226
March '38$712$451$130,514
April '38$715$449$129,800
May '38$717$446$129,083
June '38$719$444$128,363
July '38$722$441$127,641
August '38$724$439$126,917
September '38$727$436$126,190
October '38$729$434$125,461
November '38$732$431$124,729
December '38$734$429$123,994
January '39$737$426$123,257
February '39$739$424$122,518
March '39$742$421$121,776
April '39$745$419$121,031
May '39$747$416$120,284
June '39$750$413$119,535
July '39$752$411$118,782
August '39$755$408$118,027
September '39$757$406$117,270
October '39$760$403$116,510
November '39$763$401$115,747
December '39$765$398$114,982
January '40$768$395$114,214
February '40$771$393$113,444
March '40$773$390$112,670
April '40$776$387$111,894
May '40$779$385$111,116
June '40$781$382$110,335
July '40$784$379$109,551
August '40$787$377$108,764
September '40$789$374$107,975
October '40$792$371$107,183
November '40$795$368$106,388
December '40$797$366$105,591
January '41$800$363$104,791
February '41$803$360$103,988
March '41$806$357$103,182
April '41$808$355$102,374
May '41$811$352$101,562
June '41$814$349$100,748
July '41$817$346$99,931
August '41$820$344$99,112
September '41$822$341$98,289
October '41$825$338$97,464
November '41$828$335$96,636
December '41$831$332$95,805
January '42$834$329$94,971
February '42$837$326$94,134
March '42$840$324$93,295
April '42$842$321$92,452
May '42$845$318$91,607
June '42$848$315$90,759
July '42$851$312$89,908
August '42$854$309$89,053
September '42$857$306$88,196
October '42$860$303$87,336
November '42$863$300$86,474
December '42$866$297$85,608
January '43$869$294$84,739
February '43$872$291$83,867
March '43$875$288$82,992
April '43$878$285$82,114
May '43$881$282$81,233
June '43$884$279$80,349
July '43$887$276$79,462
August '43$890$273$78,572
September '43$893$270$77,679
October '43$896$267$76,783
November '43$899$264$75,884
December '43$902$261$74,982
January '44$905$258$74,076
February '44$909$255$73,168
March '44$912$252$72,256
April '44$915$248$71,341
May '44$918$245$70,423
June '44$921$242$69,502
July '44$924$239$68,578
August '44$927$236$67,651
September '44$931$233$66,720
October '44$934$229$65,786
November '44$937$226$64,849
December '44$940$223$63,909
January '45$943$220$62,965
February '45$947$216$62,019
March '45$950$213$61,069
April '45$953$210$60,116
May '45$957$207$59,159
June '45$960$203$58,199
July '45$963$200$57,236
August '45$966$197$56,270
September '45$970$193$55,300
October '45$973$190$54,327
November '45$976$187$53,350
December '45$980$183$52,371
January '46$983$180$51,388
February '46$987$177$50,401
March '46$990$173$49,411
April '46$993$170$48,418
May '46$997$166$47,421
June '46$1,000$163$46,421
July '46$1,004$160$45,417
August '46$1,007$156$44,410
September '46$1,010$153$43,400
October '46$1,014$149$42,386
November '46$1,017$146$41,368
December '46$1,021$142$40,347
January '47$1,024$139$39,323
February '47$1,028$135$38,295
March '47$1,032$132$37,263
April '47$1,035$128$36,228
May '47$1,039$125$35,190
June '47$1,042$121$34,148
July '47$1,046$117$33,102
August '47$1,049$114$32,052
September '47$1,053$110$30,999
October '47$1,057$107$29,943
November '47$1,060$103$28,883
December '47$1,064$99$27,819
January '48$1,068$96$26,751
February '48$1,071$92$25,680
March '48$1,075$88$24,605
April '48$1,079$85$23,527
May '48$1,082$81$22,444
June '48$1,086$77$21,358
July '48$1,090$73$20,269
August '48$1,093$70$19,175
September '48$1,097$66$18,078
October '48$1,101$62$16,977
November '48$1,105$58$15,872
December '48$1,109$55$14,763
January '49$1,112$51$13,651
February '49$1,116$47$12,535
March '49$1,120$43$11,415
April '49$1,124$39$10,291
May '49$1,128$35$9,163
June '49$1,132$31$8,031
July '49$1,136$28$6,896
August '49$1,139$24$5,756
September '49$1,143$20$4,613
October '49$1,147$16$3,466
November '49$1,151$12$2,314
December '49$1,155$8$1,159
January '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$2,139$1,554
Mortgage Rate4.125%3.39%*3.8%*
Total interest paid
$178,737
$66,501
$162,587
Loan Term
30 year fixedYour input
15 year fixed30 year fixed
Monthly Payment$1,599$2,139$1,554
Mortgage Rate4.125%3.39%*3.8%*
Total interest paid
$178,737
$66,501
$162,587
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.