How this calculation works
Enter your mortgage amount, rate and term above to see the complete payoff schedule — every payment's split between principal and interest, and the declining balance, all the way to payoff.
Frequently asked questions
Why does so little of my early payments go to principal?
Interest is calculated on the remaining balance each month, which is largest right at the start of the loan — so early payments are mostly interest, and the principal share grows steadily as the balance shrinks over the life of the loan.
Why does this matter for refinancing decisions?
If you're early in a mortgage's amortization schedule, you've built relatively little equity from payments alone — seeing the actual schedule helps clarify how much (or little) refinancing resets versus extends that slow-principal-building phase.
This calculator provides estimates for general informational purposes only and is not financial advice.