Mortgage Amortization Calculator
Mortgage amortization is the process of repaying a home loan in regular monthly installments that include both principal and interest. Our Advanced Mortgage Amortization Calculator offers a flexible and detailed breakdown of your loan payment structure over time. By accounting for down payment, amortization term, extra monthly payments, and balloon payments, it gives you a realistic, exportable picture of your mortgage.
Step-by-Step Guide
- Enter the Home Value – The full purchase price of the home.
- Input Down Payment % – Used to calculate the down payment amount.
- Enter Interest Rate – Your expected annual mortgage interest rate.
- Choose Amortization Term – The full repayment term for the loan.
- Select Payment Period – The number of years you want to pay before reviewing or refinancing.
- Enter First Payment Date – Used to begin the amortization schedule.
- Optional: Additional Monthly Payment – See how extra payments shorten your term and reduce total interest.
Once entered, the calculator displays:
- Down Payment Amount
- Monthly Payment (Principal & Interest only)
- Total Monthly Payments during Payment Period
- Total Paid Per Year
- Balloon Payment (if Payment Period < Amortization Term)
- Total Paid by End of Term & Total Interest Paid
- Remaining Term & Projected Payoff Date (with additional payments)
Amortization Breakdown (What’s Calculated?)
- Down Payment Amount = Home Value × Down Payment %
- Loan Amount = Home Value – Down Payment
- Monthly Payment (P&I):
Where:
- M = Max affordable monthly payment
- P = 80% of Home Value (Loan Amount)
- r = Monthly interest rate (Annual Rate ÷ 12)
- n = Total loan term in months (180 for 15 years, 360 for 30 years)
- Total Monthly Payments = Payment Period × 12
- Total Paid Per Year = Monthly Payment × 12
- Balloon Payment = Remaining principal at the end of the Payment Period (if < full amortization)
- Total Amount Paid = Monthly Payment × (# of payments made) + Balloon Payment
- Total Interest Paid = Total Amount Paid – Loan Amount
Interactive Amortization Schedule
Expandable Yearly Sections: View each year’s totals and drill into monthly details.
Export to Excel (.XLSX): Download your full amortization schedule.
Hidden Rows Automatically Toggle: Only show what you need; hidden rows appear if the year is expanded.
Why This Calculator Stands Out
Flexible Timeframe Modeling: Compare amortization term to shorter payment periods.
Extra Monthly Payments Supported: See how small changes can cut years off your loan.
Balloon Payment Visibility: Understand remaining balance if you refinance or sell early.
Custom Start Date: Get accurate, date-based amortization and payoff projections.
Clean XLSX Export: Use your amortization schedule offline or with your financial planner.
What to Do Next?
Get Deeper Loan Insights: Visit Loan Compass to compare loan scenarios with real-time rates.
Learn More: Check out our Knowledge Hub for articles on amortization, refinancing, and home loans.
Final Thoughts
Our Advanced Mortgage Amortization Calculator helps you break down complex mortgage schedules into a clear, actionable format. Designed with flexibility, exportability, and accuracy in mind, this tool is perfect for homeowners, buyers, and professionals who need a precise understanding of loan payoff over time.
Start Exploring Your Amortization Today!
