Amortization Calculator
Understanding Amortization
Amortization breaks down each payment into principal and interest portions. Early in the loan, most of your payment goes toward interest. Later, more goes toward principal.
Why It Matters
- Shows how much you owe at any point
- Helps plan extra payments
- Shows total interest paid over loan life
💡 Tips
- Extra payments save thousands in interest
- Make amortization schedule before deciding on loan term
- Refinancing restarts amortization schedule