Amortization Calculator|Get Schedule, Table and Chart

Amortization Calculator|Get Schedule, Table and Chart

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Our Amortization Schedule Calculator gives you a full amortization schedule & chart. Calculate your payment rate on interest and principal, and determine what your payments will be over time.

Using an amortization calculator is helpful when you are shopping for a new mortgage or if you want to refinance. This mortgage calculator makes it simple and easy to get a full amortization schedule in a chart or table format.

Here's how our amortization calculator can help you find the right mortgage.

Amortization Calculator


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How to use the Amortization calculator

Monthly principal and interest (P&I) payment: Enter the amount you want to borrow, the interest rate, and the repayment period. The amortization calculator displays how much your P&I installment will be based on the information provided. This assists in determining how much you can afford to borrow at prevailing interest rates. As a reminder, payment amounts shown by the calculator do not include amounts needed for payment of property taxes, hazard insurance and mortgage insurance.

Affordable payments: You can determine payment amounts using various loan amounts and interest rates. By comparing loan amounts, terms, and interest rates, you can determine how much you can afford to borrow.

Learn how much you'll pay during the life of your mortgage loan: The amortization calculator provides the dollar total amount of P&I payments made during the full term of the loan. If you want to pay off your mortgage sooner, you can adjust the term accordingly to see how much you would need to pay each month.

Benefits of a shorter repayment term: If paying off your mortgage is a priority, refinancing from a 30-year mortgage to a 15-year mortgage can help you save a lot of money. Use the calculator to see how much you can save by selecting a shorter repayment period.

  • As an example, if you borrow $200,000 at 5.25% for 30 years, you'll repay approximately $397,586.67. This includes interest of $197,586.67, which almost amounts to repaying your mortgage twice!
  • If you refinance for 15 years for the same loan amount and interest rate, your P&I payment would be $1607.76, and you would repay about $289,395.98 over 15 years. You could potentially save $108,190.69 in interest payments compared to a 30-year mortgage. And savings on a 15-year loan will probably be more, as interest rates are typically .25% to .50% lower.

Using an amortization calculator can help you identify mortgage terms that best meet your needs and ability to pay. Once these have been identified, be sure and compare lenders to ensure that you are doing your homework and researching to get the best loan rates available to you.

103 Responses to "Amortization Calculator|Get Schedule, Table and Chart"
  1. JohnK 08, Jun, 2007

    Can the currency symbol be changed? Excellent utility!

  2. Martha 08, Jun, 2007

    Great site and very easy to use. Thanks.

  3. Louise 06, Jun, 2007

    I appreciate this calculator, thank you. We are looking for a home and with this calculator we can determine what price range homes we can look at. But when I use it as a mortgage calculator I add the property taxes and home insusrance to the amount of loan so the payment also includes escrow.

  4. Dianne 04, Jun, 2007

    This is not technically an amortization calculator, since it shows only your monthly payment. A true amortization table would show which portion of your payment is principal and which is interest for each payment over the life of the loan. - - - - EDITOR'S COMMENT: You are right. This wasn't technically an amortization calculator. But it is now! We have just added an option to view the full amortization schedule. We hope you find this to be very useful. Thanks for the suggestion.

  5. Kim 25, May, 2007


  6. rick 24, May, 2007

    I'm looking to do interest only loan...is there a calculator to figure payments for that???? - - - - EDITOR'S REPLY: Yes - there is an Interest Only Loan calculator on this site. You can navigate to it from the home page, or visit www.calculators4mortgages.com/calculators/loan/interestonly.html. It will calculate your monthly payment and then compare that with the monthly payment of a fully amortized loan.

  7. Melissa 19, May, 2007

    It is helpful to have a 10 year option also.

  8. wayne 15, May, 2007

    calulating mortgage to buy a home.


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