Does this calculator include taxes, insurance, or PMI?

No. It focuses on principal and interest only. If your actual mortgage payment includes escrowed property taxes, homeowner’s insurance, HOA dues, or mortgage insurance, you should add those amounts on top of the monthly payment shown here for budgeting.

Can I use this for auto loans or personal loans?

Yes, as long as the loan uses a fixed rate and level monthly payments. Just enter the loan amount, APR, term, and any extra payment you plan to send each month.

Can I model irregular extra payments or a one-time lump sum?

Not exactly. The extra payment field assumes a fixed amount every month. To approximate a lump sum, you can reduce the loan amount by that lump sum and re-run the schedule, or use a more advanced prepayment tool that supports irregular payments.

Why doesn’t the schedule preview show every single payment?

This tool is designed for quick, email-friendly snippets. Showing all 180 or 360 rows would be unwieldy. Instead, we show the early months and the final line so you can understand the pattern and copy a manageable preview.

Will my lender’s amortization schedule match these numbers exactly?

They should be close, but differences can arise from rounding rules, payment timing, odd first/last periods, or specific servicing practices. Always treat your lender’s disclosures and statements as the authoritative source for exact payment and balance information.

finance calculator

Email-Friendly Amortization Schedule

Generate an amortization schedule with optional extra payment, plus a preview you can copy into an email or CSV.

Results

Monthly payment (P&I): $1,580
Months to payoff: 360.00
Total paid: $568,861
Total interest: $318,861
Schedule preview (CSV snippet): Month,Payment,Interest,Principal,Balance 1,1580.17,1354.17,226.00,249774.00 2,1580.17,1352.94,227.23,249546.77 3,1580.17,1351.71,228.46,249318.31 4,1580.17,1350.47,229.70,249088.61 5,1580.17,1349.23,230.94,248857.67 6,1580.17,1347.98,232.19,248625.48 ... 360,1580.17,8.51,1571.66,0.00

How to use this calculator

Enter the loan amount (either the original principal or the current balance you want to model).
Enter the annual interest rate (APR) and the term in years for the loan.
Optionally enter an extra monthly payment to see how prepaying principal accelerates payoff and reduces interest.
Review the resulting monthly payment, payoff months, total paid, and total interest.
Scroll to the schedule preview to see a CSV snippet of the amortization table—copy and paste it into an email or spreadsheet as needed.
Experiment with different extra payment amounts or term lengths until you find a payoff strategy that fits your budget and goals.

Inputs explained

Loan amount: The amount you are borrowing or the current outstanding balance you want to model. For mortgages, this is typically the purchase price minus down payment (plus any financed fees); for existing loans, use the current balance.
Annual interest rate (APR %): The nominal annual interest rate on the loan as a percentage, such as 6.5%. This is usually listed on your loan estimate or statement. The calculator converts this to a monthly rate internally.
Term (years): The total number of years over which the loan is scheduled to be repaid, such as 15, 20, or 30 years. Longer terms lower the required monthly payment but increase total interest paid.
Extra monthly payment: An optional fixed extra amount you want to pay toward principal each month on top of the required payment. Every additional dollar goes directly to principal in this model, shortening the loan term and reducing total interest.

How it works

You enter the loan amount, annual interest rate (APR), and term in years. We use the standard amortization formula to compute the fixed monthly principal-and-interest payment.

If you enter an extra monthly payment, we treat that amount as additional principal paid on top of the regular payment each month, which reduces the balance faster.

We simulate the loan month by month, calculating interest, principal, and remaining balance until the loan is fully paid off under your extra-payment plan.

From that simulation, we derive summary metrics: months to payoff, total paid, and total interest across the life of the loan with the chosen extra payment.

We also assemble a CSV-style preview of the schedule—typically the first several months plus the final payoff line—ready to copy into an email or spreadsheet for sharing or further analysis.

The math mirrors a full amortization table; this tool simply focuses on a concise, email-friendly snippet and the most important summary numbers.

Formula

Standard fixed payment (P&I) is computed using the standard amortization formula:\n\nPayment = P × [ r × (1 + r)^n ] ÷ [ (1 + r)^n − 1 ]\n\nwhere:\nP = Loan amount (principal)\nr = Monthly interest rate (APR ÷ 12)\nn = Total number of payments (years × 12)\n\nEach month:\nInterest portion = Remaining balance × r\nPrincipal portion = Payment + Extra payment − Interest portion\nNew balance = Previous balance − Principal portion\n\nWe repeat this month by month until the balance reaches zero (or near zero), tracking payoff months, total paid, and total interest along the way.

When to use it

Emailing a simple amortization example to a client, friend, or family member without sending a full spreadsheet attachment.
Comparing how different extra payment amounts change payoff time and total interest so you can design a realistic prepayment plan.
Documenting how a refinance, rate change, or term change affects the amortization schedule and sharing results in a quick copy-and-paste format.
Building a custom spreadsheet: copy the CSV preview as a starting point and then extend the table or add charts in your own file.
Teaching how amortization works by showing how early payments are mostly interest and how that shifts toward principal over time.

Tips & cautions

If you need a complete schedule with every month listed, paste the CSV snippet into a spreadsheet and extend it with formulas or a fill-down pattern.
To approximate a one-time lump-sum prepayment, you can reduce the loan amount by that lump sum and run a new scenario, or use a dedicated prepayment calculator.
Remember that this tool only models principal and interest. If your actual payment includes escrow for taxes, insurance, or HOA fees, add those separately to understand your full monthly obligation.
Try a few different extra-payment amounts to find a balance between shortening your term and keeping your monthly cash flow manageable.
When evaluating a refinance, run the old and new loan side by side, including comparable extra-payment assumptions, to see the true interest savings versus closing costs and term resets.
Assumes a fixed-rate, fully amortizing loan with level monthly payments and no interest-only periods or adjustable-rate features.
Does not include mortgage insurance, property taxes, homeowner’s insurance, HOA dues, closing costs, or lender fees—those must be added separately for a full picture of monthly and lifetime costs.
The schedule preview is intentionally truncated to keep it email-friendly; long-term loans will not display all 180 or 360 payment rows inside the tool.
Extra payments are modeled as a consistent monthly amount; irregular or one-off extra payments are not individually tracked.
Actual lender amortization schedules may differ slightly due to rounding, payment timing, odd first/last periods, or servicing practices. Always rely on official loan disclosures and statements for exact figures.

Worked examples

30-year mortgage with no extra payment

Loan amount = $250,000, APR = 6.5%, Term = 30 years, Extra payment = $0.
The calculator computes a fixed monthly principal-and-interest payment based on the standard amortization formula.
Months to payoff ≈ 360 (30 years), total paid is the monthly payment multiplied by 360, and total interest is total paid minus the $250,000 principal.
The CSV preview shows the first several months where interest is a large share of each payment and the final payoff line.

Same loan with a $200 extra monthly payment

Use the same loan: $250,000 at 6.5% for 30 years, but set Extra monthly payment = $200.
The required payment stays the same, but you now apply an additional $200 to principal each month.
Payoff months drop significantly compared to the original 360-month schedule, shortening the life of the loan by several years.
Total interest falls by many thousands of dollars versus the no-extra-payment scenario, which you can see in the total interest output.

Comparing 30-year vs 15-year terms

Scenario A: 30-year term, no extra payment.
Scenario B: 15-year term, same loan amount and APR, no extra payment.
Run the calculator for each term to compare monthly payment, payoff months (360 vs 180), total paid, and total interest.
Use the CSV previews side by side in a spreadsheet or email to illustrate how much faster principal is repaid in the shorter-term loan.

Deep dive

Generate an email-friendly amortization schedule with optional extra monthly payments and see your payment, payoff time, total interest, and a CSV preview you can copy.

Enter loan amount, rate, term, and extra payment to model prepayments, compare scenarios, and share amortization snippets quickly via email or spreadsheet.

Use this amortization schedule calculator to understand how a fixed-rate loan pays down over time and how much interest you can save by paying a little extra each month.

FAQs

Does this calculator include taxes, insurance, or PMI?: No. It focuses on principal and interest only. If your actual mortgage payment includes escrowed property taxes, homeowner’s insurance, HOA dues, or mortgage insurance, you should add those amounts on top of the monthly payment shown here for budgeting.
Can I use this for auto loans or personal loans?: Yes, as long as the loan uses a fixed rate and level monthly payments. Just enter the loan amount, APR, term, and any extra payment you plan to send each month.
Can I model irregular extra payments or a one-time lump sum?: Not exactly. The extra payment field assumes a fixed amount every month. To approximate a lump sum, you can reduce the loan amount by that lump sum and re-run the schedule, or use a more advanced prepayment tool that supports irregular payments.
Why doesn’t the schedule preview show every single payment?: This tool is designed for quick, email-friendly snippets. Showing all 180 or 360 rows would be unwieldy. Instead, we show the early months and the final line so you can understand the pattern and copy a manageable preview.
Will my lender’s amortization schedule match these numbers exactly?: They should be close, but differences can arise from rounding rules, payment timing, odd first/last periods, or specific servicing practices. Always treat your lender’s disclosures and statements as the authoritative source for exact payment and balance information.

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This email-friendly amortization schedule calculator provides an approximate fixed-rate amortization model with optional uniform extra payments. It does not incorporate all lender-specific rules, fees, or escrow items and is intended for educational planning only. Do not rely on it as the sole basis for borrowing, refinancing, or prepayment decisions. Always review official loan estimates, closing disclosures, and account statements, and consider consulting a qualified mortgage or financial professional before making major loan decisions.