Mortgage amortization calculator
Create a schedule of mortgage interest and amortization
Use the calculator below to create an annual or monthly payment schedule on a repayment mortgage (or capital and interest as they are known) based on different interest rates and loan sizes.
Bear in mind that these figures are somewhat approximate as they can be affected by nominal fees payable at the end of the loan and the rounding methods applied within a Bank's formula.
Mortgage amortization schedule calculator
Annual Payment Schedule
Mortgage Balance Over Time
Frequently Asked Questions
What is mortgage amortization?
Amortization is the process of repaying a loan in regular installments that include both interest and capital.
How is the monthly payment calculated?
Monthly payments are calculated based on the loan amount, interest rate, and loan term using standard amortization formulas.
Can I compare monthly vs annual schedules?
Yes. This calculator lets you toggle between monthly and annual schedules and compare totals visually in the graph and table.
What is cumulative interest?
Cumulative interest is the total amount of interest paid over the life of the mortgage. It's displayed in the amortization table and chart.
Why is the balance not exactly £0 at the end?
Rounding methods or assumptions in the formula may leave a small remaining amount unless the last payment is adjusted manually.