Free Tool
See exactly how your mortgage is paid down — a full month-by-month breakdown of principal vs interest, plus how much faster you’d be debt-free with extra payments.
Estimate only — principal and interest; taxes and insurance not included.
| Year | Interest paid | Principal paid | Balance |
|---|
Want to pay yours off sooner? A lower rate does the same thing as extra payments — check your refinance rate, or compare rate-and-term refinance options.
An amortization schedule is a month-by-month table showing how each mortgage payment splits between interest and principal, and how your balance falls to zero over the loan term. Early payments are mostly interest; later payments are mostly principal. This calculator builds the full schedule instantly.
Adding extra to your monthly principal shortens the loan and cuts total interest sharply. Even $100–$200 extra per month can knock years off a 30-year loan. Enter an extra payment above to see your new payoff date and the interest you'd save.
At the start of a 30-year loan, most of your payment goes to interest and only a little to principal. That flips over time. The schedule below shows the exact split for every year, so you can see when you start building real equity.
Yes — every extra dollar of principal removes all the future interest that dollar would have accrued, so extra payments early in the loan save the most. The calculator shows your total interest saved and how many months sooner you'd be mortgage-free.
A lower rate re-amortizes your loan and saves interest — get a free quote from multiple lenders.