Amortization Calculator

Your details

The amount you borrow, also called the principal.
The nominal annual rate (APR). Each month is charged one twelfth of this.
%
Whole years of the term. Add extra months below if needed.
years
For terms that are not a whole number of years, e.g. 5 years 6 months.
months
Model overpayments that go straight to principal.
Currency
Monthly payment
$1,264.14
Principal (borrowed)$200,000
Total interest$255,089
Total of payments$455,089

You'll pay 1,264.14 a month, with interest adding about 128% on top of the loan.

  • Early payments are mostly interest; later ones are mostly principal, even though the payment stays level.
  • A shorter term raises the monthly payment but sharply cuts total interest.
  • Extra payments go straight to principal, shrinking the interest slice and the payoff time.

Next stepTurn on extra payments to see the interest and months you could save.

 = Powered by OnlyCalculators