Finance
Loan Amortization Calculator
Visualize loan payoff with an amortization schedule that highlights remaining balance, interest, and principal per payment.
See payment split, remaining balance, and payoff timing with optional extra payments.
First 12 payments
| # | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $1,583.99 | $251.49 | $1,332.50 | $259,748.51 |
| 2 | $1,583.99 | $252.78 | $1,331.21 | $259,495.72 |
| 3 | $1,583.99 | $254.08 | $1,329.92 | $259,241.65 |
| 4 | $1,583.99 | $255.38 | $1,328.61 | $258,986.27 |
| 5 | $1,583.99 | $256.69 | $1,327.30 | $258,729.58 |
| 6 | $1,583.99 | $258.00 | $1,325.99 | $258,471.57 |
| 7 | $1,583.99 | $259.33 | $1,324.67 | $258,212.25 |
| 8 | $1,583.99 | $260.66 | $1,323.34 | $257,951.59 |
| 9 | $1,583.99 | $261.99 | $1,322.00 | $257,689.60 |
| 10 | $1,583.99 | $263.33 | $1,320.66 | $257,426.27 |
| 11 | $1,583.99 | $264.68 | $1,319.31 | $257,161.58 |
| 12 | $1,583.99 | $266.04 | $1,317.95 | $256,895.54 |
Schedule shortened to the first 12 payments for quick scanning.
Amortization payment
Monthly payment follows the standard loan formula using the APR and number of periods. Each payment is split between interest (rate × balance) and principal (payment − interest).
How to use
- Enter the loan amount, APR, and term in years.
- Optionally add extra monthly payments to see accelerated payoff.
- Review the summary plus the first 12 schedule rows to understand how payments amortize over time.
Example
Input: Loan = $260,000, APR = 6.15%, Term = 30 years, Extra = $150
Output: Monthly payment ≈ $1,581, Total interest ≈ $307k, Payoff shortened by ≈ 4.2 years with extra payments
Student-friendly breakdown
This walkthrough emphasizes the most searched ideas for Loan Amortization Calculator: loan amortization calculator, amortization schedule calculator, extra payment mortgage calculator, loan amortization table excel. Start with the formula above, then follow the guided steps to double-check your work. For quick revision, highlight the givens, plug into the equation, and finish by verifying your units.
Need more support? Use the links below to open the long-form guide, browse additional examples, or hop into adjacent calculators within the same topic — each one is a quick way to double-check your work or handle a related question without starting from scratch.
Deep dive & study plan
Loan Amortization Calculator: Generates amortization schedules and payment breakdowns. It's built around amortization, loan schedule, payment breakdown, so you can go from a raw question to a checked answer without switching tools.
The math behind it: Monthly payment follows the standard loan formula using the APR and number of periods. Each payment is split between interest (rate × balance) and principal (payment − interest).
To use it well: (1) Enter the loan amount, APR, and term in years. (2) Optionally add extra monthly payments to see accelerated payoff. (3) Review the summary plus the first 12 schedule rows to understand how payments amortize over time. Keep your units consistent as you go, and re-run a case you already know the answer to — it's the fastest way to catch a typo before it throws off a result you're relying on.
Worked example: entering Loan = $260,000, APR = 6.15%, Term = 30 years, Extra = $150 returns Monthly payment ≈ $1,581, Total interest ≈ $307k, Payoff shortened by ≈ 4.2 years with extra payments. Try swapping in your own numbers next, especially a case you're unsure about, before you use this for something that matters.
Quick retention checklist
- Speak the formula aloud (or annotate it) so the relationships stick.
- Write each step in your own words and compare with the numbered list above.
- Swap in new numbers for the Example to make sure the calculator (and your logic) handles edge cases.
- Check at least one related calculator below — it's the fastest way to confirm your numbers still line up from a different angle.
FAQ & notes
Can I export the full schedule?
Copy the rendered table into your spreadsheet—the full amortization data is available via DevTools or by extending the component to surface a CSV download.
How are extra payments applied?
Extra payments go directly to principal each month, reducing the balance before the next interest calculation.
What formula does the Loan Amortization Calculator use?
Monthly payment follows the standard loan formula using the APR and number of periods. Each payment is split between interest (rate × balance) and principal (payment − interest).
How do I use the Loan Amortization Calculator?
Enter the loan amount, APR, and term in years. Optionally add extra monthly payments to see accelerated payoff. Review the summary plus the first 12 schedule rows to understand how payments amortize over time.