Amortization Calculator

How it works

View your loan amortization schedule and see how your principal balance decreases over time.

View your loan pay-down schedule

Description

The Amortization Calculator provides a detailed look at how your loan is paid off over time. It shows the split between principal and interest for each period, helping you understand how equity is built and debt is reduced.

Inputs

• Loan Amount: The total principal amount borrowed ($).
• Interest Rate: The annual interest rate (%).
• Loan Term: The total duration of the loan in years.
• Start Date: The date the loan payments begin.

Outputs

• Monthly Payment: The fixed monthly installment amount.
• Total Interest: The total accumulated interest paid over the life of the loan.
• Amortization Schedule: A breakdown of balance, interest, and principal for each period (visualized in chart).

Chart

• Remaining Balance Area Chart: Visualizes the decrease of the remaining loan balance over time until it reaches zero.

“Good to Know”

• In the early years of a long-term loan (like a mortgage), most of your payment goes toward interest, not principal.
• Seeing the “tipping point” where principal payments exceed interest payments can be motivating.
• Use this to see how much you still owe at any specific future date.

Examples

Example 1: Standard Mortgage

• Input:
  • Amount: $200,000
  • Rate: 5%
  • Term: 30 Years
• Output:
  • Monthly Payment: ~$1,073
  • Total Interest: ~$186,500
  • Chart shows slow initial decline in balance.

Example 2: Short Car Loan

• Input:
  • Amount: $30,000
  • Rate: 4%
  • Term: 5 Years
• Output:
  • Monthly Payment: ~$552
  • Total Interest: ~$3,150
  • Chart shows steady, linear-like decline.

Example 3: High Rate Personal Loan

• Input:
  • Amount: $15,000
  • Rate: 15%
  • Term: 3 Years
• Output:
  • Monthly Payment: ~$520
  • Total Interest: ~$3,700
  • Principal is paid down relatively fast due to short term.