EstatePass
Free Mortgage Tool

Amortization Schedule Generator

Generate a full month-by-month amortization table showing principal, interest, and remaining balance for every payment. Export to CSV.

Full Schedule
CSV Export
15/20/30 Year

Generate Your Amortization Schedule

Enter your loan details to see a complete payment schedule.

Monthly Payment

$1,995.91

Total Interest

$418,527

Total Paid

$718,527

Annual Principal vs Interest

Y1
$296,953
Y2
$293,685
Y3
$290,181
Y4
$286,424
Y5
$282,395
Y6
$278,075
Y7
$273,442
Y8
$268,475
Y9
$263,149
Y10
$257,437
Y11
$251,313
Y12
$244,746
Y13
$237,704
Y14
$230,153
Y15
$222,057
Y16
$213,375
Y17
$204,065
Y18
$194,082
Y19
$183,378
Y20
$171,900
Y21
$159,592
Y22
$146,395
Y23
$132,243
Y24
$117,069
Y25
$100,797
Y26
$83,349
Y27
$64,640
Y28
$44,579
Y29
$23,067
Y30
$0
Principal
Interest
Balance →

Month-by-Month Schedule

Showing 24 of 360 payments.

MonthPaymentPrincipalInterestBalance
1$1,995.91$245.91$1,750.00$299,754.09
2$1,995.91$247.34$1,748.57$299,506.75
3$1,995.91$248.78$1,747.12$299,257.97
4$1,995.91$250.24$1,745.67$299,007.73
5$1,995.91$251.70$1,744.21$298,756.03
6$1,995.91$253.16$1,742.74$298,502.87
7$1,995.91$254.64$1,741.27$298,248.23
8$1,995.91$256.13$1,739.78$297,992.10
9$1,995.91$257.62$1,738.29$297,734.48
10$1,995.91$259.12$1,736.78$297,475.36
11$1,995.91$260.63$1,735.27$297,214.73
12$1,995.91$262.15$1,733.75$296,952.57
13$1,995.91$263.68$1,732.22$296,688.89
14$1,995.91$265.22$1,730.69$296,423.66
15$1,995.91$266.77$1,729.14$296,156.89
16$1,995.91$268.33$1,727.58$295,888.57
17$1,995.91$269.89$1,726.02$295,618.68
18$1,995.91$271.47$1,724.44$295,347.21
19$1,995.91$273.05$1,722.86$295,074.16
20$1,995.91$274.64$1,721.27$294,799.52
21$1,995.91$276.24$1,719.66$294,523.28
22$1,995.91$277.86$1,718.05$294,245.42
23$1,995.91$279.48$1,716.43$293,965.95
24$1,995.91$281.11$1,714.80$293,684.84

Understanding Mortgage Amortization

Amortization is the process of spreading a loan into fixed payments over time. Each payment covers interest on the remaining balance plus a portion of principal, gradually paying off the entire debt.

The Amortization Formula

The standard mortgage payment formula is M = P × [r(1+r)n] / [(1+r)n - 1], where P is the principal balance, r is the monthly interest rate (annual rate / 12), and n is the total number of payments. This formula is tested on the NMLS SAFE Act exam and is one of the most important calculations for mortgage loan originators to master.

Interest Front-Loading

On a 30-year $300,000 loan at 7%, your first payment is $1,996 — but only $246 goes to principal while $1,750 goes to interest. By payment 180 (halfway), the split is roughly equal. By payment 300, about $1,500 goes to principal. This "interest front-loading" is why extra payments early in the loan have the greatest impact on total interest savings.

Why MLO Candidates Must Understand Amortization

The NMLS exam tests your ability to calculate monthly payments, understand how principal and interest are allocated in each payment, and explain to borrowers how their payments work. You should be able to calculate a monthly payment given the loan terms, explain why interest is highest at the start, and demonstrate how different terms affect total cost. In practice, helping borrowers understand their amortization schedule builds trust and helps them make informed decisions about loan terms and extra payments.

Frequently Asked Questions

What is an amortization schedule?
An amortization schedule is a complete table showing each monthly mortgage payment broken down into principal and interest portions, along with the remaining loan balance after each payment. It shows how the ratio of principal to interest shifts over time — early payments are mostly interest, while later payments are mostly principal.
How does mortgage amortization work?
Mortgage amortization spreads your loan repayment over a fixed term with equal monthly payments. Each payment covers the interest accrued that month (calculated on the remaining balance) plus a portion of principal. As the balance decreases, less goes to interest and more to principal.
Why do I pay more interest at the beginning of a mortgage?
Interest is calculated on the outstanding loan balance each month. At the start of your mortgage, the balance is at its highest, so more of each payment goes to interest. As you pay down the principal over time, the interest portion decreases and the principal portion increases.
How much total interest will I pay on a 30-year mortgage?
On a $300,000 loan at 7% interest over 30 years, you would pay approximately $418,527 in total interest — more than the original loan amount. Choosing a 15-year term at the same rate reduces total interest to about $185,934, saving over $232,000.
What is the difference between 15-year and 30-year amortization?
A 15-year mortgage has higher monthly payments but significantly lower total interest cost. For example, on a $300,000 loan at 7%, a 15-year term has payments of about $2,696/mo with $185K total interest, while a 30-year term has payments of about $1,996/mo but $419K total interest.

Explore More

PITI Calculator

Break down your total monthly housing payment

Payment Calculator

Compare terms & see extra payment savings

DTI Calculator

Calculate front-end & back-end debt-to-income ratios

Closing Cost Estimator

Itemized closing costs by state & loan type

Free MLO Practice

AI-powered NMLS exam practice questions

MLO Exam Topics

Study all NMLS SAFE Act exam content areas

Master Amortization for the MLO Exam

Practice amortization calculations and mortgage math with our AI-powered MLO exam prep. Understand how every payment breaks down.

Start Free MLO PracticeDownload the App