Mortgage Amortization Calculator
Generate a full year-by-year mortgage payment schedule showing how much of each payment goes to interest vs capital, with a visual balance chart.
Enter your loan amount, annual interest rate, and term in years. Click Generate Schedule to see the full amortization table — one summary row per year showing interest paid, capital repaid, and closing balance for that year. Click + Expand on any year to see the 12 individual monthly rows for that period.
Below the table, a balance chart shows how your outstanding balance falls over the full term. The curve flattens out early in the mortgage (when most payments go to interest) and steepens toward the end (when most payments reduce the capital).
This tool also works as a home loan amortization calculator or house amortization calculator — the maths is the same regardless of terminology.
Amortization (from the Latin amortire — to kill off a debt) describes the process of repaying a loan through regular, equal instalments. Each payment is split between interest — charged on the current outstanding balance — and principal, which reduces that balance. Because the balance falls over time, the interest portion of each payment shrinks and the principal portion grows, even though the total payment stays constant.
This is why the amortization schedule curve is not a straight line: the balance falls slowly at first, then accelerates toward the end of the term.
On a £200,000 mortgage at 5% over 25 years, the monthly payment is £1,169. In month one, the interest charge is £833 (5% ÷ 12 × £200,000), leaving only £336 to reduce the balance. By year 20, the balance has fallen enough that only around £200 per month goes to interest — with £969 reducing the principal. The total payment is the same throughout; only the split changes.
The schedule is useful for several practical calculations: seeing how much of your balance will remain after a fixed-rate period ends (useful for remortgaging), checking how much equity you will have built up after a given number of years, and understanding the true cost of extending your term. Use the Mortgage Balance Calculator if you want to look up your current balance directly.
An amortization schedule is a complete table of every mortgage payment broken down into the interest portion and the capital (principal) portion, showing how much of the outstanding loan remains after each payment. Early in the term most of each payment goes toward interest; as the balance falls, the proportion going toward capital grows.
Because interest is charged on the full outstanding balance. On a £200,000 mortgage at 5%, the first month's interest is £833 — leaving only £336 of the £1,169 standard payment to reduce the balance. As the balance falls month by month, the interest charge falls too, and the capital portion grows. By the final year, almost the entire payment goes to principal.
The table shows one summary row per year by default. Click '+ Expand' on any year to see the 12 monthly rows for that year. Each row shows the interest paid, capital repaid, and remaining balance for that period. The totals row at the bottom confirms the full interest paid and full capital repaid over the life of the mortgage.
Yes — the calculation is identical. Amortization is the process of paying off a loan through regular instalments, whether you call it a mortgage, a home loan, or a house loan. Enter the loan amount, interest rate, and term to generate the full schedule.
The chart plots the outstanding balance at the end of each year from the start of the mortgage (original loan amount) down to zero at the end of the term. The curve is steeper in the later years because more of each payment goes toward capital once the balance has fallen significantly.