A mortgage amortization schedule shows every payment from month one through payoff — how much goes to interest, how much reduces your balance, and what you still owe after each payment. On a $300,000, 30-year mortgage at 6%, the first payment of $1,798.65 sends $1,500.00 to interest and only $298.65 to principal.
That ratio flips slowly over time. By month 200 — roughly year 17 — your payment sends about $890 to interest and $909 to principal. You cross the midpoint of your balance not at month 180 (year 15) but at month 238 (nearly year 20). The amortization table makes this visible.
Reading the amortization table
The schedule has four columns: payment number, interest paid, principal paid, and remaining balance. Expand it below the calculator to see every month. Download it as a CSV to build your own projections in a spreadsheet.
The year-summary view collapses the table to show annual totals — useful for tax purposes in countries where mortgage interest is deductible, and for tracking how much equity you have built each year.
Your balance at any given month is also the payoff amount if you chose to sell the house or pay it off early. Lenders sometimes quote a slightly higher payoff figure due to interest accrued since the last payment date — the schedule assumes payments land exactly on the due date.
The front-loaded interest problem
Standard mortgage amortization is structured so that your payment is equal every month. But equal payments do not mean equal principal reduction. Because interest is charged on the outstanding balance — which is highest at the start — the early payments are dominated by interest.
On a $300,000 / 6% / 30-year mortgage, you pay $347,515 in interest over the life of the loan. More than half of that interest — roughly $180,000 — is paid in the first 15 years, even though by year 15 you have only reduced your balance to around $235,000 (about 78% of the original balance). This is the amortization asymmetry that makes extra early payments so valuable.
The schedule shows this explicitly: look at the cumulative interest column vs the cumulative principal column in any early year.
When you reach 20% equity — and why it matters
In the US, borrowers who put down less than 20% are required to pay PMI (private mortgage insurance). PMI cancels automatically when the loan-to-value ratio falls to 78% of the original purchase price, or can be requested at 80% LTV. Use the schedule to find the exact month your balance hits those thresholds.
On a $300,000 loan (assuming 80% LTV on a $375,000 property), 80% LTV is a balance of $300,000 — you start there. PMI cancellation at 78% LTV ($292,500) happens when the balance drops to $292,500. On a 6% / 30-year mortgage, that takes about 27 months. Read down the balance column in the schedule to find the exact month for your specific numbers.
Frequently asked questions
What is a mortgage amortization schedule?
A mortgage amortization schedule is a complete table of every payment you will make — from the first month through payoff — showing how each payment splits between interest and principal, and what your remaining balance is after each payment. The schedule is fixed at the start of the loan for a fixed-rate mortgage; an adjustable-rate mortgage's schedule changes when the rate resets.
How do I find my mortgage amortization schedule from my lender?
Your mortgage lender or servicer will provide an amortization schedule at closing or on request. Log into your online account and look for "payment schedule" or "amortization table." If you cannot find it, this calculator generates an identical schedule from your loan's three core parameters — principal, rate, and term.
Does this "mortgage amortization calculator" do the same thing as the "amortization calculator"?
Yes — the math is identical. The generic amortization calculator at /amortization-calculator uses the same engine with neutral defaults. This page uses mortgage-sized defaults and mortgage-specific copy. If you have a different loan type, use the generic calculator or the dedicated auto loan or personal loan pages.
How is interest calculated each month on a mortgage?
Monthly interest = outstanding balance × (annual rate ÷ 12). On a $300,000 balance at 6% annual rate, month one interest = $300,000 × (0.06 ÷ 12) = $300,000 × 0.005 = $1,500. The rest of the $1,798.65 payment ($298.65) reduces the balance. Month two charges interest on $299,701.35, and so on.