Amortization schedule calculator
Enter an amount, a rate, a term and a first payment date. The table lists what each payment covers and what is still owed afterwards.
Canada compounds a mortgage rate semi annually; the United States compounds monthly.
Yearly rows fit a phone screen. Payment rows scroll inside the table.
Drawn up to 50 years.
Payments are monthly, on the same day each month.
Results
Monthly payment
$2,213.89
On $400,000 at 4.5% over 25 years.
- Payments
- 300 (25 years)
- Total interest
- $264,168
- Total paid
- $664,168
- Last payment
- 01 Aug 2051
| Year | Interest | Principal | Balance |
|---|---|---|---|
| 20264 payments | $5,928 | $2,927 | $397,073 |
| 202712 payments | $17,520 | $9,047 | $388,026 |
| 202812 payments | $17,108 | $9,459 | $378,567 |
| 202912 payments | $16,678 | $9,889 | $368,678 |
| 203012 payments | $16,227 | $10,339 | $358,338 |
| 203112 payments | $15,757 | $10,810 | $347,529 |
| 203212 payments | $15,265 | $11,302 | $336,227 |
| 203312 payments | $14,751 | $11,816 | $324,411 |
| 203412 payments | $14,213 | $12,354 | $312,058 |
| 203512 payments | $13,651 | $12,916 | $299,142 |
| 203612 payments | $13,063 | $13,504 | $285,638 |
| 203712 payments | $12,449 | $14,118 | $271,520 |
| 203812 payments | $11,806 | $14,760 | $256,760 |
| 203912 payments | $11,135 | $15,432 | $241,328 |
| 204012 payments | $10,432 | $16,134 | $225,193 |
| 204112 payments | $9,698 | $16,869 | $208,324 |
| 204212 payments | $8,930 | $17,636 | $190,688 |
| 204312 payments | $8,128 | $18,439 | $172,249 |
| 204412 payments | $7,289 | $19,278 | $152,971 |
| 204512 payments | $6,412 | $20,155 | $132,816 |
| 204612 payments | $5,494 | $21,072 | $111,744 |
| 204712 payments | $4,535 | $22,031 | $89,713 |
| 204812 payments | $3,533 | $23,034 | $66,679 |
| 204912 payments | $2,485 | $24,082 | $42,597 |
| 205012 payments | $1,389 | $25,178 | $17,419 |
| 20518 payments | $292 | $17,419 | $0 |
Assumptions
- Payments are monthly, level, and land on the same day of the month as the first one. A day that a shorter month does not have rolls back to that month's last day.
- The rate holds for the whole term. Nothing here models a renewal, a rate reset or a payment holiday.
- Canada converts the quoted rate through semi annual compounding, as section 6 of the Interest Act requires. The United States divides the quoted rate by twelve.
- Interest is charged on the balance at the start of each period, then the payment is applied. The final payment is trimmed so the balance lands exactly on zero.
- Property tax, insurance and any amount a lender collects alongside the payment are not shown. The table covers principal and interest.
- The table is drawn over 50 years at most.
Sources
- Interest Act, RSC 1985, c I-15, section 6, Justice Laws Website, checked 30 August 2026
- Choosing a mortgage that is right for you, Financial Consumer Agency of Canada, checked 30 August 2026
- A consumer's guide to mortgage refinancings, Board of Governors of the Federal Reserve System, checked 30 August 2026
How this works
An amortization schedule is the loan agreement written out one payment at a time. Each row starts with the balance you owe, adds the interest that balance earned over the period, takes the payment off, and carries what is left to the next row. The payment itself never moves, but what it buys changes every month.
On a 25 year mortgage at a middling rate, the first payment is roughly two thirds interest. Ten years in, the split is close to even. In the final year, almost the whole payment reduces the balance. That shape is why paying a lump sum early saves so much more than the same sum paid late: it removes principal that would otherwise have been earning interest for decades.
The yearly view adds up every payment inside a calendar year and reports the closing balance at the end of it. It answers two questions people usually want from a schedule: how much interest did this loan cost me last year, and how much do I still owe. Switch to the payment view when you need to check a specific instalment, for example to confirm a lender statement.
One quirk worth knowing: the last payment on a real loan is rarely equal to the others. Rounding each payment to the cent leaves a small remainder that has to go somewhere, so lenders adjust the final instalment up or down by a few dollars. This table does the same, which is why the last row can look short.