Amortization Calculator

Paying off a loan is a long journey, and the path you take can make a big difference in how much interest you pay and how quickly you reach the finish line. This amortization calculator is designed to give you more than just the basics: you can explore standard repayment schedules, add recurring extra payments or one-time lump sums, and see how strategies like recasting or refinancing change your payoff timeline. Running these scenarios helps you understand the impact of different choices before you make them.

See the Amortization Calculator How to Guide for detailed information on how to use this calculator.

You can save your data directly in your browser so it’s available the next time you visit — nothing is stored on servers, which keeps your information private and under your control.

You can also export your data at any time, allowing you to save a personal backup or transfer your progress to another device or browser. See the Managing Your Data: Export, Import, and Reset page for more detailed information.

$Loan Amount

Loan Years

Interest Rate%

April

Start Month

Start Year

Loan Details

Enter the basics of your loan, including the amount, term length, interest rate, and when payments begin. This sets the foundation for your personalized amortization schedule.

Extra Payments

Add one-time lump sums or recurring monthly increases for any month in your schedule. Unlike many calculators that limit you to a handful of extra payments, this tool lets you enter as many as you need — giving you full flexibility to explore different payoff strategies.

Recast

If you’ve made extra or lump-sum payments, you can recast your loan to lower your monthly payment while keeping the same payoff date. This shows you how putting extra money toward your principal can ease your monthly budget without restarting your loan. Some lenders require a minimum lump-sum payment to approve a recast, and many charge a small recast fee.

Refinance

Test out refinancing scenarios by selecting a new start month, updated loan term, and interest rate. See how refinancing can reduce your payments, extend your term, or save you money on interest over time. Keep in mind that refinancing often involves closing costs, fees, and a new loan approval process.