Amortization and extra-payment calculator Where does my payment go?

See how each payment shifts from interest to principal and how extra monthly principal can change your payoff date and total interest.

About this estimate

Amortization is gradual repayment. Interest is calculated on what you still owe, so early payments send more to interest and less to principal.

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Your numbers

* Required

Loan amount *

Interest rate *

Initial illustrative 6.750% interest / 6.750% APR; not a quote. This static APR applies only to the initial inputs, not your edits. Loan term *

years

Extra monthly principal *

Initial illustrative inputs only. The disclosures below do not update when you edit the calculator and are not quotes, approvals, or a promise of savings. Rates change daily. Everything stays in your browser; we don't see or store it.

Example only (Initial amortization inputs, no extra principal): $680,000.00 loan; $170,000.00 down; 30-year fixed; 6.750% interest rate, 6.750% APR; $0.00 cash-paid prepaid finance charges (no discount points); 360 monthly P&I payments of about $4,410.47, no balloon; first payment in one month. No mortgage insurance assumed; taxes, property insurance and HOA excluded; actual payment higher. Not a quote/approval; rates change daily; your rate, APR and terms will differ.

What this tells you (and what it doesn't)

Amortization is gradual repayment. Interest is calculated on what you still owe, so early payments send more to interest and less to principal.

Illustrative assumptions: $680,000 loan, $170,000 / 20% down on an $850,000 purchase; $0 prepaid finance charges, points or recurring loan fees.

Scheduled repayment: 6.750% interest rate · 6.750% APR · 30-year fixed · $170,000.00 down · 360 monthly P&I payments of $4,410.47; $680,000.00 loan

$100 extra monthly principal: 6.750% interest rate · 6.750% APR · 336-month payoff · $170,000.00 down · 335 monthly payments of $4,510.47, then $3,990.15 in month 336; $680,000.00 balance

$500 extra monthly principal: 6.750% interest rate · 6.750% APR · 270-month payoff · $170,000.00 down · 269 monthly payments of $4,910.47, then $415.55 in month 270; $680,000.00 balance

First payment one month after a single advance, no balloon. First scheduled payment: $3,825 interest and about $585 principal; over five years, roughly $223,000 interest and $41,600 principal. Extra payments are voluntary, applied to principal with no penalty. Taxes, homeowners insurance, HOA and mortgage insurance excluded; actual housing obligations will be higher. Not a quote or approval; rates change daily.

Assumptions

The estimate assumes a fixed rate and a constant extra monthly principal amount.
Taxes, insurance, HOA, mortgage insurance, and future refinance choices are not included.
Actual servicing and payoff figures come from the lender or servicer.

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Rates, terms, and eligibility depend on credit profile, income, property, loan program, occupancy, market conditions, and underwriting approval.

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Amortization and extra-payment calculator Where does my payment go?

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