Principal | Interest Rate | Length | Amortization Schedule | Change Parameters |
---|---|---|---|---|

$500,000 | 3.5% | 15 years | View • Print | Change Parameters |

Number of Payments | Monthly Payment | Total Principal Paid | Total Interest Paid | Total Paid |
---|---|---|---|---|

180 | $3,574.41 | $500,000.00 | $143,394.29 | $643,394.29 |

Payments | Yearly Total | Principal Paid | Interest Paid | Balance |
---|---|---|---|---|

Year 1 (1-12) | $42,892.95 | $25,804.28 | $17,088.67 | $474,195.72 |

Year 2 (13-24) | $42,892.95 | $26,722.06 | $16,170.89 | $447,473.65 |

Year 3 (25-36) | $42,892.95 | $27,672.49 | $15,220.47 | $419,801.17 |

Year 4 (37-48) | $42,892.95 | $28,656.71 | $14,236.24 | $391,144.45 |

Year 5 (49-60) | $42,892.95 | $29,675.94 | $13,217.01 | $361,468.51 |

Year 6 (61-72) | $42,892.95 | $30,731.43 | $12,161.53 | $330,737.08 |

Year 7 (73-84) | $42,892.95 | $31,824.45 | $11,068.50 | $298,912.63 |

Year 8 (85-96) | $42,892.95 | $32,956.35 | $9,936.60 | $265,956.28 |

Year 9 (97-108) | $42,892.95 | $34,128.51 | $8,764.45 | $231,827.78 |

Year 10 (109-120) | $42,892.95 | $35,342.35 | $7,550.60 | $196,485.42 |

Year 11 (121-132) | $42,892.95 | $36,599.37 | $6,293.58 | $159,886.05 |

Year 12 (133-144) | $42,892.95 | $37,901.10 | $4,991.85 | $121,984.95 |

Year 13 (145-156) | $42,892.95 | $39,249.13 | $3,643.82 | $82,735.82 |

Year 14 (157-168) | $42,892.95 | $40,645.10 | $2,247.85 | $42,090.72 |

Year 15 (169-180) | $42,892.95 | $42,090.72 | $802.23 | $0.00 |

$643,394.29 | $500,000.00 | $143,394.29 |

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

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.