Mortgage Amortization Calculator — Full Year-by-Year Schedule
Enter your loan amount, interest rate and term to get a full year-by-year amortization schedule showing how your mortgage balance, equity, and principal/interest split change over time.
%
years
Fixed principal-and-interest payment due each month
- 1
Monthly interest rate
r = 6.5% ÷ 12 ÷ 100 = 0.005417 - 2
Number of payments
n = 30 × 12 = 360 - 3
Growth factor
(1+r)ⁿ = 1.005417ⁿ = 6.9918How much one unit grows over the whole term at the monthly rate. - 4
Monthly payment
300,000 × 0.005417 × 6.9918 ÷ (6.9918 − 1) = 1,896.20
Year-by-year mortgage amortization schedule
| Year | Principal paid | Interest paid | Remaining balance | Equity |
|---|---|---|---|---|
| 1 | 3,353 | 19,401 | 296,647 | 1.1 % |
| 2 | 3,578 | 19,177 | 293,069 | 2.3 % |
| 3 | 3,817 | 18,937 | 289,252 | 3.6 % |
| 4 | 4,073 | 18,681 | 285,179 | 4.9 % |
| 5 | 4,346 | 18,409 | 280,833 | 6.4 % |
| 6 | 4,637 | 18,118 | 276,196 | 7.9 % |
| 7 | 4,947 | 17,807 | 271,249 | 9.6 % |
| 8 | 5,279 | 17,476 | 265,970 | 11.3 % |
| 9 | 5,632 | 17,122 | 260,338 | 13.2 % |
| 10 | 6,009 | 16,745 | 254,328 | 15.2 % |
| 11 | 6,412 | 16,343 | 247,916 | 17.4 % |
| 12 | 6,841 | 15,913 | 241,075 | 19.6 % |
| 13 | 7,299 | 15,455 | 233,776 | 22.1 % |
| 14 | 7,788 | 14,966 | 225,987 | 24.7 % |
| 15 | 8,310 | 14,445 | 217,677 | 27.4 % |
| 16 | 8,866 | 13,888 | 208,811 | 30.4 % |
| 17 | 9,460 | 13,294 | 199,351 | 33.5 % |
| 18 | 10,094 | 12,661 | 189,257 | 36.9 % |
| 19 | 10,770 | 11,985 | 178,487 | 40.5 % |
| 20 | 11,491 | 11,263 | 166,996 | 44.3 % |
| 21 | 12,261 | 10,494 | 154,735 | 48.4 % |
| 22 | 13,082 | 9,673 | 141,653 | 52.8 % |
| 23 | 13,958 | 8,797 | 127,695 | 57.4 % |
| 24 | 14,893 | 7,862 | 112,803 | 62.4 % |
| 25 | 15,890 | 6,864 | 96,912 | 67.7 % |
| 26 | 16,954 | 5,800 | 79,958 | 73.3 % |
| 27 | 18,090 | 4,665 | 61,868 | 79.4 % |
| 28 | 19,301 | 3,453 | 42,567 | 85.8 % |
| 29 | 20,594 | 2,161 | 21,973 | 92.7 % |
| 30 | 21,973 | 781 | 0 | 100 % |
How does this calculator work?
Your monthly mortgage payment = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1). Each payment covers that month's interest first; the rest reduces the principal. Early payments are mostly interest; later ones are mostly principal. The schedule here shows the annual totals for every year of the loan so you can see exactly when you reach key equity milestones.
Formula
How this is calculated
A mortgage amortises — pays itself off — through equal monthly payments that together cover both the accruing interest and the gradual reduction of the principal balance. Each payment first satisfies that month's interest charge (balance × monthly rate), and the remainder goes toward principal. Because the balance falls each month, the interest charge falls too, and an increasingly larger share of each fixed payment becomes principal repayment. In the early years of a 30-year mortgage the split is heavily weighted toward interest; by the final years, most of each payment is principal.
The calculator computes the standard fixed monthly payment from the amortization formula, then walks month-by-month through the full term — accumulating principal paid, interest paid, and remaining balance — and presents the result aggregated by year. The equity percentage is (original principal − remaining balance) ÷ original principal × 100; it grows slowly at first and accelerates once the interest portion of each payment becomes small.
Assumptions: fixed interest rate, equal monthly payments, and no extra payments, fees, taxes, or insurance. Partial years (if the term in years is not a whole number) are handled correctly by capping the final year at the remaining months.
Frequently asked questions
Interest is charged on the outstanding balance, which is at its highest in year one. On a $300,000 loan at 6.5%, nearly $1,625 of each monthly payment in the first month is interest, leaving only ~$271 to reduce the balance. As the balance falls, this ratio gradually flips.
A shorter term (e.g. 15 years) means a higher monthly payment but far less total interest, and equity builds much faster. A 30-year term keeps payments lower but results in far more interest paid and slower equity accumulation — roughly twice as much total interest.
The equity percentage in the rightmost column of the schedule shows when you cross 20 %. At 6.5% on a 30-year loan, 20% equity from amortisation alone typically takes about 11–12 years; making extra principal payments shortens this considerably.
Also known as
TG we-Calculate Editorial Team. (2026). Mortgage Amortization Calculator — Full Year-by-Year Schedule [Online calculator]. TG we-Calculate. https://we-calculate.com/calculator/mortgage-amortization-calculator
TG we-Calculate Editorial Team. "Mortgage Amortization Calculator — Full Year-by-Year Schedule." TG we-Calculate. 2026. https://we-calculate.com/calculator/mortgage-amortization-calculator.
TG we-Calculate Editorial Team, "Mortgage Amortization Calculator — Full Year-by-Year Schedule," TG we-Calculate, 2026. [Online]. Available: https://we-calculate.com/calculator/mortgage-amortization-calculator
@misc{wecalculate_mortgage_amortization_calculator, title = {Mortgage Amortization Calculator — Full Year-by-Year Schedule}, author = {{TG we-Calculate Editorial Team}}, howpublished = {\url{https://we-calculate.com/calculator/mortgage-amortization-calculator}}, year = {2026}, note = {TG we-Calculate} }
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