Amortization Schedule Generator

An amortization schedule is a detailed table showing each payment for the life of a loan, breaking down how much of each payment goes toward principal versus interest. It also shows the remaining balance after each payment, helping you understand exactly how your loan will be paid off over time.

Each row represents one payment period. The columns show: payment number, payment date, total payment amount, principal portion (amount reducing your balance), interest portion (cost of borrowing), and remaining balance. Early in the loan, more of each payment goes to interest; later, more goes to principal.

Interest is calculated on the remaining balance. Since your balance is highest at the start, interest charges are higher. As you pay down the principal, the balance decreases, so interest charges decrease and more of your payment goes toward principal. This is how amortization naturally works.

Extra payments go directly toward reducing your principal balance. This reduces future interest charges since interest is calculated on the remaining balance. Making consistent extra payments can significantly shorten your loan term and reduce total interest paid over the life of the loan.

Yes, this generator works for any amortizing loan including mortgages, auto loans, student loans, personal loans, and business loans. As long as the loan has fixed payments over a set term, this tool will accurately generate the payment schedule.

The generator supports monthly (12 payments per year), bi-weekly (26 payments per year), and weekly (52 payments per year) payment frequencies. Bi-weekly and weekly payments can help you pay off loans faster since you make more payments per year.

The calculations are mathematically precise using standard amortization formulas. However, actual schedules from lenders may vary slightly due to their specific rounding practices, payment due dates, or additional fees. Always verify with your lender for your official payment schedule.

Yes, you can download the complete amortization schedule as a CSV file, which can be opened in Excel, Google Sheets, or any spreadsheet program. From there, you can print, save, or further customize the schedule for your records.

A loan calculator typically shows just the monthly payment and total interest. An amortization schedule generator provides a detailed payment-by-payment breakdown for the entire loan term, showing exactly how each payment is split between principal and interest and when each payment is due.

Amortization schedules are useful for financial planning, understanding your loan structure, tax preparation (mortgage interest deductions), comparing loan options, planning extra payments strategically, budgeting, and maintaining financial records. They provide transparency into exactly how your loan works.

No, this schedule shows only principal and interest payments. For mortgages, you'll need to add property taxes, homeowners insurance, PMI (if applicable), and HOA fees separately. These are typically collected through an escrow account but are not part of the amortization calculation.

To see the effect of a lump sum payment, you can generate a schedule with the current balance, then generate another schedule with the balance minus your lump sum. Compare the two to see how many payments and how much interest you'll save. Alternatively, use the extra payment field for recurring additional payments.