Free, no sign-up amortization calculator for any fixed-rate loan: every payment listed, extra payments included, and the schedule ready to print or download.
Added to every payment and applied to principal only.
Biweekly here means half the monthly payment every two weeks, which is 13 monthly payments a year.
Try the $250,000 exampleAdd $200 a monthPay biweeklySolve for term
Estimates only. Your lender's statement is the number that counts. Read how we calculate.
An amortization schedule lists every payment on a loan and shows how much of each one pays interest and how much reduces the balance. Early payments are mostly interest because interest is charged on the full amount you still owe.
Enter the loan amount, rate, and term; the payment and the full schedule appear as you type. Add an extra monthly, yearly, or one-time amount to see the interest saved and months cut, or switch to Solve for term to find how long a payment you can afford takes. Use the Yearly toggle to scan a long loan, Print for a clean copy, and Download CSV for a spreadsheet.
The scheduled payment comes from the standard amortization formula:
P is the loan amount, i is the monthly interest rate (the annual rate divided by 12), and n is the number of monthly payments. If the rate is zero, the payment is simply P divided by n. That formula is the same one used by Calculator.net amortization calculator and taught in consumer math courses (LibreTexts, Amortized Loans); a general definition is in amortization schedule, Wikipedia.
Each row of the schedule then works the same way: interest for the period is the opening balance times the monthly rate; the principal paid is the payment minus that interest; any extra principal you entered is added on top; and the balance for the next row is reduced by both. The loop stops when the balance reaches zero, and the final payment is adjusted so the schedule ends exactly at $0.00.
Solve for term runs the formula backward. If you know the payment you can afford, the number of months it takes is n = ln(M ÷ (M − P·i)) ÷ ln(1 + i). If the payment does not cover the first month's interest, the loan never amortizes, and the page tells you the minimum payment that would.
Biweekly means two different things. The version that saves money is accelerated biweekly: half your monthly payment every two weeks, which is 26 half-payments a year, or 13 monthly payments instead of 12. That is what this calculator models. A loan that simply splits the same annual total across 26 payments saves nothing. One more catch: some lenders hold a half payment until the second half arrives, which removes the benefit, so ask before you switch.
APR versus interest rate. The rate sets the interest in this schedule. APR also folds in certain fees, so it is usually a little higher. Use the rate for the schedule; use APR to compare offers.
| Base loan | With $200 extra a month | Accelerated biweekly | Solve for term | |
|---|---|---|---|---|
| Loan | $250,000 at 6.5% for 30 years | same | same | $250,000 at 6.5% |
| Scheduled payment | $1,580.17 monthly | $1,580.17 + $200 | $790.09 every two weeks | $2,000 monthly |
| Payments | 360 | 265 | 628 periods (about 289 months) | 210 |
| Total interest | $318,861.22 | $221,243.10 | $245,426.40 | computed by the tool |
| Interest saved | $97,618.12 | $73,434.82 | ||
| Time cut | 95 months (7 yrs 11 mo) | about 71 months | 150 months | |
| Principal overtakes interest | payment 233 (year 20) | earlier | earlier | earlier |
Every figure above was produced by the calculator on this page. Click an example link under the inputs to load it and check for yourself. The minimum payment that covers interest on the $250,000 loan is $1,354.17.
Cedrick Reese built this calculator. The payment formula is the standard amortization formula, and the $250,000 example above matches the figures published by several independent amortization calculators for the same inputs, to the cent ($1,580.17 a month, $318,861 total interest, crossover at payment 233). The engine forces the final row to zero so the schedule balances exactly, and nothing on this page pulls a live rate, so the math does not go stale. If you find a case where the schedule disagrees with your lender by more than rounding, send the inputs through the contact page.
Last reviewed: .
An amortization schedule is a table that lists every payment on a loan and splits each one into the interest charged for that period and the principal that reduces the balance. It ends when the balance reaches zero. Lenders build one for every fixed-rate mortgage, auto loan, and personal loan, and this page shows yours in full rather than a summary.
Each period, interest is charged on the balance you still owe. Your payment stays the same, so whatever is left after that interest goes to principal. As the balance falls, the interest portion shrinks and the principal portion grows. Early payments are mostly interest, late payments are mostly principal, and the total is arranged so the last payment clears the loan exactly.
Because interest is charged on the full balance and the balance is largest at the start. On a $250,000 loan at 6.5%, the first month's interest is about $1,354, so only about $226 of a $1,580 payment reduces the loan. That split flips over time. On this example, principal first outweighs interest at payment 233, in year 20.
Every extra dollar goes straight to principal, so the next period's interest is charged on a smaller balance, and every period after that too. That is why extra payments early in a loan save more than the same dollars later. Enter an extra monthly amount, a yearly amount, or a one-time lump sum above and the table, chart, and savings tiles update together.
Only in the accelerated form: half your monthly payment every two weeks, which adds up to 13 monthly payments a year instead of 12. That extra payment is what shortens the loan. Splitting the same annual total into 26 pieces saves nothing. Some lenders also hold a half payment until the second half arrives, which cancels the benefit, so confirm how yours applies it.
The monthly view lists every payment. The yearly view adds up each calendar year and lets you expand a year to see its months. Both use the same numbers. The yearly view is easier to scan on a long mortgage; the monthly view is the one to print or download if you want to check a specific payment against your statement.
Yes. Print schedule uses a plain layout that leaves out the site header, ads, and chart and repeats the column headings on every page. Download CSV saves the same columns as the table so you can open the schedule in a spreadsheet. Both reflect whatever inputs and extra payments are entered when you click.
Yes, for any fixed-rate loan with a regular payment: mortgages, auto loans, personal loans, student loans with a fixed rate, and land loans. Enter the amount, rate, and term the same way. For a car loan you already have, the car loan payoff calculator starts from your current balance. If a loan has a balloon payment, a variable rate, or an income-driven plan, the schedule here will not match it; the balloon payment calculator covers the first of those.
The formula is exact, and the page forces the final row to zero so the schedule balances to the cent. Your lender's figures can still differ by a few cents or a day because of rounding conventions, payment dates, and how partial months are handled. Treat the schedule as an accurate estimate and your lender's statement as the record.