Mortgage Amortization Calculators

One or more of the calculators here show monthly or biweekly changes in interest and principal payments, loan balance, tax savings and borrower equity.

Amortization is the repayment of principal from scheduled mortgage payments that exceed the interest due. The scheduled payment less the interest equals amortization. The loan balance declines by the amount of the scheduled payment, plus the amount of any extra payment. For a detailed explanation, see Mortgage Amortization: How Does It Work? All amortization calculators show the breakdown of monthly payments into principal and interest, and the month by month reduction in the loan balance. However, the calculators differ in what else they show.

Amortization Schedule Including Tax Savings.
Shows the tax savings on the interest payments at the user’s tax rate.

Amortization Schedule Including Property Appreciation.
Shows how long it will take for amortization on a fixed-rate mortgage combined with property value appreciation to reduce the ratio of loan balance to property value to some desired level. 

Extra Payments to Accelerate Payoff>.
Shows how the amortization schedule is affected by any combination of additional payments that the borrower wishes to make.

Biweekly Payments Applied Monthly.
Shows the amortization schedule when the borrower makes biweekly payments instead of monthly payments.

For calculators that show how the amortization schedule is affected by extra payments, see Mortgage Payoff Calculators.

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