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Use this calculator to generate an estimated amortization schedule for your current loan. Quickly see how much interest you could pay and your estimated principal balances.
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Definitions
- Amount
- Original or expected balance for your loan.
- Term in years
- The number of years over which you will repay this loan. The most common terms are 15 years and 30 years.
- Interest rate
- Annual fixed interest rate for this loan.
- Monthly payment
- Monthly principal and interest payment (PI).
- Total payments
- Total of all monthly payments over the full term of the loan. This total payment amount assumes that there are no prepayments of principal.
- Total interest
- Total of all interest paid over the full term of the loan. This total interest amount assumes that there are no prepayments of principal.
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