Free Amortization Calculator - See Your Complete Payment Schedule
Generate detailed amortization schedules showing exactly how each payment splits between principal and interest. Best free amortization calculator 2025.
Quick Answer
An amortization schedule shows how each loan payment is divided between principal and interest, plus the remaining balance after each payment. Our free amortization calculator at practicalwebtools.com generates a complete payment-by-payment breakdown for any loan, helping you understand exactly how your debt pays down over time.
Key Facts about Amortization Calculator:
- Amortization spreads loan payments evenly over the loan term
- Early payments are mostly interest; later payments are mostly principal
- The "crossover point" where principal exceeds interest typically occurs around 60% through the loan
- Extra principal payments shorten the loan and reduce total interest
- Amortization schedules help track loan progress and plan prepayments
- Most mortgages, auto loans, and personal loans are amortizing loans
Why Use Our Amortization Calculator?
Understand every payment:
Complete Schedule
See every payment from first to last.
Principal vs Interest
Know exactly how each payment splits.
Running Balance
Track your remaining loan balance over time.
Cumulative Interest
See total interest paid at any point.
Printable Schedule
Export your amortization schedule.
100% Private
Your data stays on your device.
How to Amortization Calculator in 3 Easy Steps
Generate your schedule:
Enter Loan Details
Input principal, rate, term, and start date.
Generate Schedule
Click to create your full amortization table.
Analyze Payments
Review each payment breakdown and plan prepayments.
Know Where Every Dollar Goes
Understand exactly how your loan pays down
Identify the best time for extra payments
Track your progress toward owning your home/car
Plan prepayment strategies to save on interest
Common Use Cases for Amortization Calculator
Essential for:
Frequently Asked Questions
Everything you need to know about our amortization calculator
What is an amortization schedule?
A payment-by-payment table showing principal, interest, and remaining balance.
An amortization schedule is a table showing each loan payment broken down into principal (what reduces your balance) and interest (cost of borrowing), plus the remaining balance after each payment.
Why is most of my payment interest at first?
Interest is calculated on remaining balance - highest at the start.
Interest is calculated on your remaining balance. When your balance is highest (at the start), more interest accrues. As your balance decreases, less goes to interest and more to principal.
How can I pay off my loan faster?
Extra payments, bi-weekly schedule, or shorter term refinance.
Make extra payments toward principal, pay bi-weekly instead of monthly (results in 13 annual payments), or refinance to a shorter term. Use the amortization schedule to track your accelerated progress.
What is the crossover point?
When principal portion exceeds interest - typically 60% through the loan.
The crossover point is when your payment starts putting more toward principal than interest. This typically occurs around 60% through your loan term.
Should I pay extra on my mortgage?
Yes, extra payments save interest - but check for prepayment penalties.
Extra principal payments save money on interest and build equity faster. Even small extra amounts add up significantly over a 30-year mortgage. Check your loan for prepayment penalties first.
Still have questions? Try the tool yourself!
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