# Loan Summary

Principal Interest Rate Length Amortization Schedule Change Parameters
\$15,000 4.25% 5 years Change Parameters
Check LendingTree to see current mortgage rates from multiple lenders

# Payment Summary

Number of Payments Monthly Payment Total Principal Paid Total Interest Paid Total Paid
60 \$277.94 \$15,000.00 \$1,676.60 \$16,676.60

# Yearly Amortization Schedule

PaymentsYearly TotalPrincipal PaidInterest PaidBalance
Year 1 (1-12)\$3,335.32\$2,751.00\$584.32\$12,249.00
Year 2 (13-24)\$3,335.32\$2,870.22\$465.10\$9,378.78
Year 3 (25-36)\$3,335.32\$2,994.61\$340.71\$6,384.18
Year 4 (37-48)\$3,335.32\$3,124.39\$210.93\$3,259.79
Year 5 (49-60)\$3,335.32\$3,259.79\$75.53\$0.00
\$16,676.60\$15,000.00\$1,676.60

# Amortization Schedule Calculator

Enter your loan information to create an amortization schedule showing payments of principal and interest.

Show Amortization Schedule by

# Amortization Calculator Information

Here are some helpful tips to understand how this calculator works.

• This calculator determines the monthly payment of a loan or mortgage based on an interest rate and length. It also calculates the total interest and total amount paid over the entire term of the loan.
• Subtract your down payment from the purchase price to obtain the principal amount for the loan.
• It assumes a fixed interest rate throughout the entire loan. It does not handle variable, adjustable (ARM) or ballon rates.
• An amortization schedule is also generated showing how the balance or principal is paid off by the end of the term. A portion of each monthly payment goes toward interest with the rest being used to reduce the remaining balance.
• This type of calculation can be used for any type of asset, including home mortgages, car loans, credit cards, student loans and many more.