Amortization Calculator
Calculate loan payments and view complete amortization schedule
Loan Details
Payment Summary
Payment Amount$0
Total of Payments$0
Total Interest$0
Understanding Amortization
What is Amortization?
Amortization is the process of spreading out a loan into a series of fixed payments over time. Each payment consists of both principal and interest.
- Payment Structure:
Early payments are mostly interest, while later payments are mostly principal
- Fixed Payments:
Each payment remains the same throughout the loan term
- Interest Calculation:
Interest is calculated on the remaining balance each period
Common Applications
Amortization is commonly used in various types of loans:
- Mortgages:
Home loans typically use amortization schedules
- Auto Loans:
Vehicle financing with fixed monthly payments
- Student Loans:
Education financing with long-term repayment plans