Mortgage Amortization Calculator 2026 (USA)
Generate a full 2026 mortgage amortization schedule, see principal vs. interest each month, and model extra payments to pay off faster.
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Frequently Asked Questions
Clear answers to common questions to help you use this calculator confidently.
What is a mortgage amortization schedule?
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What is a mortgage amortization schedule?
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A mortgage amortization schedule is a table showing every payment over the loan term and how each payment is split between interest and principal. It also shows the remaining loan balance after each payment.
Does making extra payments reduce mortgage interest?
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Does making extra payments reduce mortgage interest?
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Yes. Extra payments reduce the principal balance faster. Because interest is calculated on the remaining principal, reducing principal early can significantly lower total interest paid and shorten the loan term.
Why is most of my mortgage payment interest at the beginning?
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Why is most of my mortgage payment interest at the beginning?
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Early in a mortgage, the balance is highest, so interest charges are larger. Over time, as principal decreases, the interest portion shrinks and more of each payment goes toward principal.
How do I calculate remaining mortgage balance after 5 or 10 years?
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How do I calculate remaining mortgage balance after 5 or 10 years?
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Use the amortization schedule to find the remaining balance at a specific month or year. This calculator shows balances year-by-year so you can plan refinancing or home sale timing.
Is it better to make extra monthly payments or one extra annual payment?
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Is it better to make extra monthly payments or one extra annual payment?
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Extra monthly payments reduce principal earlier across the year, which can slightly increase savings compared to waiting for one extra annual payment. This tool helps compare both strategies.
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How this mortgage amortization calculator works
An amortization schedule shows how each monthly payment is split between interest and principal over the full life of a loan. Early payments are mostly interest; later payments are mostly principal. This calculator generates the full schedule and summary statistics for any fixed-rate mortgage.
- Monthly payment = P × [r(1+r)^n] ÷ [(1+r)^n − 1], where P = principal, r = monthly rate, n = number of payments.
- Each month: interest = remaining balance × monthly rate; principal = payment − interest.
- Sum all interest payments to show total interest cost and total amount paid over the loan term.
- Extra principal payments are applied directly, reducing total interest and shortening the payoff timeline.
Assumes a fixed interest rate. ARM loans, balloon payments and pre-payment penalties are not modelled. Contact your lender for the official amortization schedule.
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