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//// Personal Finance · Mortgage

Mortgage Amortization Schedule

Full year-by-year amortization table — see total paid, total interest, and the exact month your principal payment finally beats your interest payment.

Where this fits

🏠 Real EstateHome BuyingHomeownersHouseholds

This tool lives inside Home Buying and is most useful for homeowners and households.

30yr Fixed Avg~6.8%
Standard Down20%
DTI Limit (QM)43%

Monthly Payment

$1,996

Total Paid

$718,527

Total Interest

$418,527

Break-Even

Month 242

principal > interest

Loan Details

YearPaidPrincipalInterestBalance
1$23,951$3,047$20,903$296,953
2$23,951$3,268$20,683$293,685
3$23,951$3,504$20,447$290,181
4$23,951$3,757$20,194$286,424
5$23,951$4,029$19,922$282,395
6$23,951$4,320$19,631$278,075
7$23,951$4,632$19,318$273,442
8$23,951$4,967$18,984$268,475
9$23,951$5,326$18,625$263,149
10$23,951$5,711$18,239$257,437
1

Monthly Payment

P × r / (1 − (1+r)^−n)

= $1,996/mo

$300,000 at 7%/30yr = $1,996/month

2

Total Paid Over Life

monthly PMT × total months

= $718,527

$1,996 × 360 = $718,527 total

3

Total Interest

total paid − loan amount

= $418,527

$718,527 − $300,000 = $418,527 in interest

4

Break-Even Month

first month where principal portion > interest portion

= Month 242

Before month 242, more of each payment goes to interest than principal

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