Loan Amortization Schedule Generator

An amortization schedule is a table showing every payment over the life of a loan, broken down into principal and interest. In early payments, most of the amount goes toward interest; over time, the principal share grows. The monthly payment stays constant using the formula: M = P × [r(1+r)^n] / [(1+r)^n − 1]. For each period, interest = remaining balance × monthly rate, and principal = payment − interest. This schedule helps you see exactly when you'll cross the halfway point and how extra payments accelerate payoff.

Adding even a small extra payment each month can dramatically shorten your loan term. On a $200,000 mortgage at 6.5% over 30 years, an extra $100/month saves approximately $47,000 in interest and cuts 5 years off the term. The amortization schedule recalculates after each extra payment, reducing the remaining balance faster and shifting more of each subsequent payment toward principal.