🏠 Amortization Table Generator

Professional loan amortization calculator that creates detailed payment schedules for mortgages, car loans, and personal loans. Shows monthly payment breakdown of principal vs interest, cumulative totals, and remaining loan balance with export capabilities.

Loan Amortization Schedule:

🏠 LOAN PREVIEW

$300,000 Loan → $1,610.46/month (360 payments)

6.5% APR • 30 Years • Total Interest: $279,767

💰 Monthly Payment Breakdown (Preview)

Monthly Payment

$1,610.46

Principal + Interest

Total Interest

$279,767

Over 30 Years

Total Paid

$579,767

Principal + Interest

🔧

JavaScript Required:

This amortization calculator requires JavaScript to perform complex loan calculations and generate payment schedules.

How to Use This Amortization Table Generator

## How to Use the Amortization Table Generator 1. **Enter Loan Amount**: Input the total principal amount you're borrowing (e.g., $300,000) 2. **Set Interest Rate**: Enter the annual interest rate as a percentage (e.g., 6.5%) 3. **Specify Loan Term**: Input the loan duration in years (e.g., 30 years) 4. **Generate Table**: Click to create your complete amortization schedule 5. **Review Schedule**: Examine monthly payments, principal/interest breakdown, and remaining balance 6. **Download Results**: Save your amortization table for record-keeping or financial planning ### Input Tips: - Use whole dollar amounts for loan amount (no cents needed for most calculations) - Interest rates should be annual rates (not monthly) - Common loan terms: 15, 20, or 30 years for mortgages; 3-7 years for auto loans - The calculator assumes standard monthly payments

How It Works

## How Amortization Calculations Work ### Mathematical Formula: The monthly payment is calculated using the standard loan payment formula: **M = P × [r(1+r)^n] / [(1+r)^n - 1]** Where: - M = Monthly payment amount - P = Principal loan amount - r = Monthly interest rate (annual rate ÷ 12) - n = Total number of payments (years × 12) ### Payment Breakdown Process: 1. **Interest First**: Each month's interest = remaining balance × monthly interest rate 2. **Principal Second**: Monthly principal = monthly payment - monthly interest 3. **Balance Update**: New balance = previous balance - principal payment 4. **Repeat**: Process continues for each payment until balance reaches $0 ### Key Amortization Principles: - **Front-loaded Interest**: Early payments are mostly interest - **Increasing Principal**: Principal portion grows over time - **Fixed Payment**: Total monthly payment stays constant (for fixed-rate loans) - **Declining Balance**: Remaining loan balance decreases each month

When You Might Need This

• Calculate monthly mortgage payments for home purchase planning
• Generate complete payment schedule for car loan budgeting
• Plan personal loan repayment timeline and total interest costs
• Compare different loan terms (15 vs 30 year) for optimal savings
• Prepare loan documentation for small business financing applications
• Create amortization schedule for student loan consolidation analysis
• Calculate total interest paid over loan lifetime for refinancing decisions
• Generate payment schedule for equipment financing in business operations
• Plan boat or RV loan payments with detailed monthly breakdown
• Create investment property mortgage schedule for rental income analysis

Frequently Asked Questions

What is an amortization table and why is it useful?

An amortization table is a complete schedule showing every payment of a loan, breaking down how much goes to principal vs. interest each month. It's useful for understanding your total interest costs, tracking loan progress, tax planning (interest deductions), and making informed decisions about extra payments or refinancing.

How accurate are the calculated monthly payments?

Our calculator uses the standard loan payment formula used by banks and financial institutions, providing accuracy to the penny. However, actual loan terms may include additional costs like PMI, taxes, insurance, or fees not included in basic amortization calculations. Always verify final terms with your lender.

Why do early payments have more interest than principal?

This is how amortization works - interest is calculated on the remaining balance each month. Early in the loan, the balance is high, so interest charges are high. As you pay down the principal, the balance decreases, resulting in lower interest charges and more of your payment going to principal.

Can I use this calculator for adjustable rate mortgages (ARMs)?

This calculator is designed for fixed-rate loans where the interest rate stays constant. For ARMs, it can show you the initial payment schedule, but you'll need to recalculate when rates adjust. The table will be accurate for the current rate period.

What's the difference between loan term length and total interest paid?

Longer loan terms mean lower monthly payments but significantly more total interest. For example, a $300K loan at 6.5%: 15 years = $2,613/month, $170K total interest; 30 years = $1,610/month, $279K total interest. Shorter terms save money long-term but require higher monthly payments.