Calculyn

Amortization Calculator

See how each loan payment splits between principal and interest, and your balance over time.

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Results update as you type.

Monthly payment

$1,580.17/ month
Total interest
$318,861
First payment: interest
$1,354.17
First payment: principal
$226.00
Interest paid in year 1
$16,168
Balance after 5 years
$234,027
Balance after 10 years
$211,940
Balance after 15 years
$181,398
Balance after 20 years
$139,163
  • Principal44%
  • Interest56%
Monthly payment$1,580.17

Loan results are estimates and not financial advice. Your lender's terms, fees and rate determine your real payments.

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How it works

With an amortizing loan, every payment is the same, but early payments are mostly interest. As the balance falls, more of each payment goes to principal.

Formula

M = P × r ÷ (1 − (1 + r)⁻ⁿ)
Balanceₖ = P(1 + r)ᵏ − M((1 + r)ᵏ − 1) ÷ r

Example

$250,000 at 6.5% for 30 years: $1,580.17/month; the first payment is $1,354.17 interest and $226.00 principal.

Assumptions & limitations

  • Results are rounded for display.

Frequently asked questions

How can I pay less interest?

Extra principal payments, especially early on, shorten the loan and cut total interest significantly.