Amortization Schedule Calculator
What an extra payment actually does to your loan
An extra $200 a month sounds small. Applied straight to principal, it can remove years off a mortgage and tens of thousands in interest — this calculator shows you exactly how much, year by year, not just the headline number.
Amortization schedule
Loan amount $227,424
Payoff time
30 yr
Total interest paid
$310,695
From your extra payment
$0 saved
| Year | Principal paid | Interest paid | Ending balance |
|---|---|---|---|
| 1 | $2,364 | $15,573 | $225,060 |
| 2 | $2,532 | $15,405 | $222,528 |
| 3 | $2,712 | $15,225 | $219,816 |
| 4 | $2,904 | $15,033 | $216,912 |
| 5 | $3,111 | $14,827 | $213,801 |
| 6 | $3,332 | $14,606 | $210,469 |
| 7 | $3,568 | $14,369 | $206,901 |
| 8 | $3,821 | $14,116 | $203,080 |
| 9 | $4,093 | $13,844 | $198,987 |
| 10 | $4,383 | $13,554 | $194,604 |
| 11 | $4,695 | $13,243 | $189,909 |
| 12 | $5,028 | $12,909 | $184,881 |
| 13 | $5,385 | $12,552 | $179,495 |
| 14 | $5,768 | $12,170 | $173,728 |
| 15 | $6,177 | $11,760 | $167,551 |
| 16 | $6,616 | $11,321 | $160,935 |
| 17 | $7,086 | $10,852 | $153,849 |
| 18 | $7,589 | $10,348 | $146,260 |
| 19 | $8,128 | $9,810 | $138,133 |
| 20 | $8,705 | $9,232 | $129,428 |
| 21 | $9,323 | $8,614 | $120,105 |
| 22 | $9,985 | $7,952 | $110,120 |
| 23 | $10,694 | $7,243 | $99,426 |
| 24 | $11,453 | $6,484 | $87,972 |
| 25 | $12,267 | $5,670 | $75,705 |
| 26 | $13,138 | $4,799 | $62,567 |
| 27 | $14,071 | $3,866 | $48,497 |
| 28 | $15,070 | $2,867 | $33,427 |
| 29 | $16,140 | $1,797 | $17,286 |
| 30 | $17,286 | $651 | $0 |
Frequently asked questions
Where does extra payment money go?
Straight to principal, on top of your regular payment. Because interest is calculated on the remaining balance each month, reducing that balance faster means less interest accrues for the rest of the loan — which compounds into real savings.
Is paying extra always the right move?
Not necessarily — it depends on your rate versus what you could earn investing that money elsewhere, and whether you have higher-interest debt to pay down first. This calculator shows you the mechanical effect on the loan; it's one input to that decision, not the whole answer.
Why does the yearly table matter more than a lump total?
Because payoff isn't linear — the balance drops slowly at first and rapidly near the end. Seeing it year by year makes clear roughly when extra payments start making the biggest difference.
Related: Mortgage calculator · Closing costs calculator · Methodology