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Enter your loan details and click Generate Amortization Schedule to see your full payment table, extra payment savings, crossover point, and term comparison.
Building your schedule…
How Loan Amortization Is Calculated — Formula & Step-by-Step Example
Every fixed-rate loan uses the same amortization formula. Understanding it helps you see why early payments are mostly interest and how extra payments have such a powerful effect.
The Amortization Formula
Each month, interest is charged on the remaining balance. The fixed payment covers that interest, and the rest reduces your principal. As balance falls, so does monthly interest — more of your payment goes to principal over time.
Example: $300,000 Mortgage at 6.82% for 30 Years
Why Extra Payments Are So Powerful
Because interest is calculated on your remaining balance, extra payments reduce both your balance and all future interest charges. A $200 extra payment in month 1 saves more than $200 extra in month 200.
What Is the Crossover Point?
The crossover point is when more of your monthly payment goes to principal than to interest. For a 30-year mortgage at 6.82%, this happens around year 18–19. Extra payments move the crossover earlier.
How to Read Your Amortization Schedule
- Payment # — which payment in the sequence
- Payment — your fixed monthly payment (P&I)
- Principal — how much reduces your loan balance this month
- Interest — how much the lender earns this month
- Balance — what you still owe after this payment
2026 Amortization Reference Tables
Quick reference for common loan scenarios. Use the calculator above for your exact schedule.
Monthly P&I Payment by Loan Amount — 30-Year Mortgage
| Loan Amount | 6.00% | 6.50% | 6.82% | 7.00% | 7.50% | Total Interest (6.82%) |
|---|---|---|---|---|---|---|
| $150,000 | $899 | $948 | $980 | $998 | $1,049 | $202,800 |
| $200,000 | $1,199 | $1,264 | $1,307 | $1,331 | $1,398 | $270,400 |
| $300,000 | $1,799 | $1,896 | $1,960 | $1,996 | $2,097 | $405,600 |
| $400,000 | $2,398 | $2,528 | $2,614 | $2,661 | $2,796 | $540,800 |
| $500,000 | $2,998 | $3,160 | $3,267 | $3,327 | $3,496 | $676,000 |
Crossover Point — When Principal Exceeds Interest
| Loan Type / Term | Rate | Crossover Month | Crossover Year | Equity at Crossover |
|---|---|---|---|---|
| Mortgage — 30 yr | 6.82% | Month 220 | ~Year 18.3 | ~38% of loan |
| Mortgage — 15 yr | 6.14% | Month 91 | ~Year 7.6 | ~35% of loan |
| Auto Loan — 60 mo | 7.18% | Month 31 | ~Year 2.6 | ~49% of loan |
| Personal Loan — 5 yr | 11.92% | Month 36 | ~Year 3.0 | ~52% of loan |
| Student Loan — 10 yr | 6.53% | Month 65 | ~Year 5.4 | ~41% of loan |
Amortization by Loan Type — Key Differences
The same amortization math applies to every fixed-rate installment loan, but term length changes how quickly equity builds.
Mortgage (15–30 yr)
30-year mortgages have the slowest early equity build — most interest is front-loaded. 15-year mortgages build equity faster and pay far less total interest, at the cost of a higher monthly payment.
Auto Loan (48–84 mo)
Short terms mean rapid equity build from the start. Crossover often happens within the first 2–3 years.
Student Loan (10 yr standard)
Standard federal repayment amortizes like any fixed loan over 10 years. Income-driven repayment plans do not amortize the same way and aren't modeled accurately by this calculator.
Personal Loan (2–7 yr)
Personal loans carry higher average rates (often 10–15%+), so extra payments have an outsized impact on total interest paid.
Amortization Calculator — Frequently Asked Questions
Everything you need to know about amortization schedules, extra payments, crossover points, and loan types.