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.

Loan
Loan term

Amortization schedule

Loan amount $227,424

Payoff time

30 yr

Total interest paid

$310,695

YearPrincipal paidInterest paidEnding 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.