Mortgage WellAmortization Calculator
See exactly how each monthly payment splits between principal and interest, and how your balance falls over time.
Amortization Schedule
Generated · Assumption set 2026-04-30
Scheduled monthly payment
$2,022.62/mo
Balance over time
Show data table
| Year | Balance |
|---|---|
| 1 | $316,423.24 |
| 2 | $312,606.96 |
| 3 | $308,535.08 |
| 4 | $304,190.51 |
| 5 | $299,554.97 |
| 6 | $294,608.97 |
| 7 | $289,331.75 |
| 8 | $283,701.10 |
| 9 | $277,693.35 |
| 10 | $271,283.24 |
| 11 | $264,443.83 |
| 12 | $257,146.37 |
| 13 | $249,360.20 |
| 14 | $241,052.58 |
| 15 | $232,188.56 |
| 16 | $222,730.93 |
| 17 | $212,639.88 |
| 18 | $201,873.02 |
| 19 | $190,385.09 |
| 20 | $178,127.79 |
| 21 | $165,049.59 |
| 22 | $151,095.53 |
| 23 | $136,206.92 |
| 24 | $120,321.21 |
| 25 | $103,371.61 |
| 26 | $85,286.85 |
| 27 | $65,990.93 |
| 28 | $45,402.71 |
| 29 | $23,435.67 |
| 30 | $0.00 |
Principal vs. interest by year
Amortization schedule
| Year | Principal | Interest | Extra | Balance | Toggle |
|---|---|---|---|---|---|
| Year 1 | $3,576.76 | $20,694.68 | $0.00 | $316,423.24 | |
| Year 2 | $3,816.28 | $20,455.16 | $0.00 | $312,606.96 | |
| Year 3 | $4,071.88 | $20,199.56 | $0.00 | $308,535.08 | |
| Year 4 | $4,344.57 | $19,926.87 | $0.00 | $304,190.51 | |
| Year 5 | $4,635.54 | $19,635.90 | $0.00 | $299,554.97 | |
| Year 6 | $4,946.00 | $19,325.44 | $0.00 | $294,608.97 | |
| Year 7 | $5,277.22 | $18,994.22 | $0.00 | $289,331.75 | |
| Year 8 | $5,630.65 | $18,640.79 | $0.00 | $283,701.10 | |
| Year 9 | $6,007.75 | $18,263.69 | $0.00 | $277,693.35 | |
| Year 10 | $6,410.11 | $17,861.33 | $0.00 | $271,283.24 | |
| Year 11 | $6,839.41 | $17,432.03 | $0.00 | $264,443.83 | |
| Year 12 | $7,297.46 | $16,973.98 | $0.00 | $257,146.37 | |
| Year 13 | $7,786.17 | $16,485.27 | $0.00 | $249,360.20 | |
| Year 14 | $8,307.62 | $15,963.82 | $0.00 | $241,052.58 | |
| Year 15 | $8,864.02 | $15,407.42 | $0.00 | $232,188.56 | |
| Year 16 | $9,457.63 | $14,813.81 | $0.00 | $222,730.93 | |
| Year 17 | $10,091.05 | $14,180.39 | $0.00 | $212,639.88 | |
| Year 18 | $10,766.86 | $13,504.58 | $0.00 | $201,873.02 | |
| Year 19 | $11,487.93 | $12,783.51 | $0.00 | $190,385.09 | |
| Year 20 | $12,257.30 | $12,014.14 | $0.00 | $178,127.79 | |
| Year 21 | $13,078.20 | $11,193.24 | $0.00 | $165,049.59 | |
| Year 22 | $13,954.06 | $10,317.38 | $0.00 | $151,095.53 | |
| Year 23 | $14,888.61 | $9,382.83 | $0.00 | $136,206.92 | |
| Year 24 | $15,885.71 | $8,385.73 | $0.00 | $120,321.21 | |
| Year 25 | $16,949.60 | $7,321.84 | $0.00 | $103,371.61 | |
| Year 26 | $18,084.76 | $6,186.68 | $0.00 | $85,286.85 | |
| Year 27 | $19,295.92 | $4,975.52 | $0.00 | $65,990.93 | |
| Year 28 | $20,588.22 | $3,683.22 | $0.00 | $45,402.71 | |
| Year 29 | $21,967.04 | $2,304.40 | $0.00 | $23,435.67 | |
| Year 30 | $23,435.67 | $833.21 | $0.00 | $0.00 |
Assumptions used
Assumption set 2026-04-30
- Loan amount
- $320,000calculated
- Annual interest rate
- 6.50%user input
- Loan term
- 30 yearsuser input
- Start month
- 2026-05-01user input
- Extra monthly payment
- $0user input
How this calculator works
Each month, the lender first charges interest on your remaining balance, then applies the rest of your payment to principal. Early payments are mostly interest; late payments are mostly principal. An amortization schedule shows that split for every month of your loan.
Reviewed for calculation accuracy and clarity by Mortgage Well calculation team ·
When to use this
- You want to see how much of your payment is interest in any given month or year.
- You're modeling extra principal payments to see how much faster you'd pay off.
- You need a schedule to share with a CPA, planner, or co-borrower.
Methodology
We compute the scheduled monthly payment from the standard fully-amortizing formula and then walk the schedule month by month. Each row records the interest charge on the beginning balance, the scheduled principal, any extra principal applied that month, and the resulting ending balance.
monthly_interest = beginning_balance * (annual_rate / 12) scheduled_principal = scheduled_payment - monthly_interest ending_balance = beginning_balance - scheduled_principal - extra_principal
Assumptions
- Fixed-rate, fully-amortizing loan.
- Money is tracked in integer cents; the final period is adjusted so balance reaches exactly $0.
- Extra payments are applied to principal immediately on the period entered.
Example
On a $320,000 loan at 6.5% over 30 years, your first payment is about $2,022 — roughly $1,733 in interest and $289 in principal. By year 25, the same payment is mostly principal.
Frequently asked
- How are extra payments applied?
- Extra principal reduces your balance immediately, which lowers the interest charged in every subsequent month. That's why even small extras can save years of payments.
- Why does the final payment differ slightly?
- Each month is rounded to whole cents, which can leave a tiny residual. We adjust the final period so the balance lands on exactly $0.
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Estimates only. This calculator is not a loan offer, loan approval, official Loan Estimate, Closing Disclosure, tax advice, legal advice, or financial advice. Actual payments, rates, taxes, insurance, mortgage insurance, closing costs, and loan terms may vary. Contact a qualified lender, tax professional, or financial advisor for guidance.