Dicno LabsFree mortgage tool
Estimate monthly payment, total interest, total payment, and a yearly amortization schedule for a fixed-rate mortgage.
Mortgage schedule
An amortization calculator helps you understand the long-term structure of a fixed-rate mortgage. Instead of looking only at the monthly payment, it shows how that payment gradually shifts from mostly interest to mostly principal as the loan balance falls.
Use this tool to estimate the monthly principal and interest payment, total interest paid, total repayment amount, and a yearly amortization table. It is especially useful when comparing loan terms, understanding the real cost of interest, or learning why early mortgage payments reduce the balance slowly.
For a fuller housing estimate, pair this page with the PITI Calculator, Mortgage Calculator, and Principal vs Interest lesson.
Calculator
Enter the loan amount, interest rate, and term. The schedule updates in your browser as you adjust the inputs.
This calculator is for estimation only and does not include all lender fees or closing costs.
Your input is processed in your browser. Dicno Labs does not upload or store the data you enter in this tool.
This table summarizes each year of the loan so you can compare principal paid, interest paid, and the remaining estimated balance.
| Year | Principal Paid | Interest Paid | Ending Balance |
|---|---|---|---|
| Enter loan details to generate a schedule. | |||
How it works
A fixed-rate mortgage uses a payment formula that spreads the loan balance across a set number of monthly payments. The formula uses the loan amount, the monthly interest rate, and the total number of payments. Once the monthly payment is known, each month can be split into interest and principal.
The interest portion is calculated by multiplying the current balance by the monthly interest rate. The rest of the payment reduces principal. Because the principal balance decreases over time, the interest portion gets smaller and the principal portion gets larger. This is why amortization is easier to understand when you look at a schedule instead of a single payment number.
For example, a $320,000 loan at 6.5% for 30 years has an estimated principal and interest payment of about $2,023 per month. In the first year, a large part of the payment goes to interest because the balance is still close to the original loan amount. Later in the loan, more of each payment reduces principal. This principal vs interest shift is the core idea behind amortization.
Amortization is also useful for planning. A shorter term can reduce total interest, but it usually raises the monthly payment. A lower rate can reduce both the payment and total interest. Extra principal payments can shorten the schedule, which is why the Extra Payment Calculator is a natural next step. To understand the broader monthly housing cost, read Understanding PITI.
If you borrow $300,000 at 6.25% for 30 years, the estimated principal and interest payment is roughly $1,847 per month. Over the full term, total payments can exceed $660,000, with interest making up a major share of that cost. Seeing the yearly breakdown helps explain why rate shopping, term selection, and extra principal payments can matter so much.
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An amortization calculator estimates how a fixed-rate loan payment is divided between principal and interest over time. It also shows how the remaining balance may decline year by year.
Yes. The yearly table separates estimated principal paid and interest paid so you can see how each part changes as the loan balance gets smaller.
Interest is calculated from the outstanding balance. Early in the loan, the balance is highest, so a larger share of each payment goes toward interest.
No. This amortization calculator focuses on principal and interest only. Use the PITI Calculator if you want to include property tax, insurance, and PMI.
No. It is an educational estimate. Lender schedules may differ because of exact closing dates, escrow changes, rounding, fees, and servicing rules.
Extra principal payments can reduce the balance faster, lower future interest, and shorten payoff time. Use the Extra Payment Calculator to model that scenario.
This tool is designed for fixed-rate installment loans, especially mortgages. Adjustable-rate loans and interest-only loans need different assumptions.
A yearly schedule is easier to scan on a web page. It still gives a clear view of balance, principal, and interest trends over the full loan term.
Loan amount, interest rate, and term are the biggest drivers. A higher rate or longer term usually increases total interest.
No. Your input is processed in your browser. Dicno Labs does not upload or store the data you enter in this tool.
HomeLoan Compass
Download HomeLoan Compass on Google Play for more complete mortgage planning tools, including affordability, loan comparison, amortization insights, and future premium tools.