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An amortization schedule shows exactly how each mortgage payment is divided between principal and interest over the life of your loan. Early payments go mostly toward interest, while later payments go mostly toward principal.
Mortgage Amortization Calculator
Results
Total Paid
$682,633.47
Total Interest
$382,633.47
Principal
300,000
Payoff Time
30 years
Visualization
Amortization Schedule
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How It Works
Each month, interest is calculated on the remaining balance. The difference between your fixed payment and the interest charge goes toward principal reduction. This creates a gradually shifting ratio from interest-heavy to principal-heavy payments.
Formula
Monthly Interest = Balance × (Annual Rate / 12); Principal = Payment - Interest; New Balance = Old Balance - PrincipalAssumptions
- Fixed interest rate throughout loan term
- Payments made on time each month
- No prepayment penalties
- Extra payments applied to principal immediately
Frequently Asked Questions
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