# Loan Amortization Table

# What is an amortization schedule?

A mortgage amortization schedule is a table that lists each regular payment on a mortgage over time. A portion of each payment is applied toward the principal balance and interest, and the mortgage loan amortization schedule details how much will go toward each component of your mortgage payment.

Initially, most of your payment goes toward the interest rather than the principal. The loan amortization schedule will show as the term of your loan progresses, a larger share of your payment goes toward paying down the principal until the loan is paid in full at the end of your term.

# How do you calculate amortization?

**An amortization schedule calculator shows:**

1. How much principal and interest are paid in any particular payment?

2. How much total principal and interest have been paid at a specified date?

3. How much principal do you owe on the mortgage at a specified date?

4. How much time you will chop off the end of the mortgage by making one or more extra payments?

**This means you can use the mortgage amortization calculator to:**

1. Determine how much principal you owe now, or will owe at a future date.

2. Determine how much extra you would need to pay every month to repay the mortgage in, say, 22 years instead of 30 years.

3. See how much interest you have paid over the life of the mortgage, or during a particular year, though this may vary based on when the lender receives your payments.

4. Figure out how much equity you have.