Where does your loan payment actually go?

See how principal and interest change month by month.

When this calculator is useful

Break a fixed-rate loan into its monthly principal and interest schedule so you can see how the balance declines over time.

What to enter

Enter the loan amount, APR and loan term in months.

How to read the result

Use the monthly payment and total-interest figures together with the amortization schedule to see how each payment shifts from mostly interest toward mostly principal.

Questions worth testing

Compare a shorter loan term, a lower interest rate or a smaller starting loan balance.