Amortization Schedule Calculator Overview

An amortization schedule for a mortgage helps a borrower see how the monthly mortgage payments that they make are applied to their principal balance of the mortgage, and how much is applied toward the interest paid on the mortgage. An amortized mortgage has equal monthly mortgage payments, so when the term of the mortgage comes to end the mortgage is paid in full. For example, a 30-year fixed mortgage is amortized over a 30-year period so that the equal monthly payments paid over the 30 years will pay off all of the interest and principal balance of the mortgage so that the remaining balance is $0.