Finance Tools
Amortization Schedule with Extra Payments
Generate an amortization schedule with extra monthly payments and see payoff time and interest savings.
Inputs
This schedule applies your extra payment monthly to principal.
$
%
years
$
Summary
Base Monthly (P&I)
$1,798.65
New Payoff Time
23 years 3 months
Time Saved
6 years 9 months
Interest Saved
$91,173.43
Baseline (No Extra)
Term: 30 years
Total interest: $347,514.57
With Extra Payments
Term: 23 years 3 months
Total interest: $256,341.13
Amortization Schedule
Showing first 24 months (toggle for full schedule).
| Month | Payment | Interest | Principal | Extra | Balance |
|---|---|---|---|---|---|
| 1 | $1,998.65 | $1,500 | $298.65 | $200 | $299,501.35 |
| 2 | $1,998.65 | $1,497.51 | $301.14 | $200 | $299,000.2 |
| 3 | $1,998.65 | $1,495 | $303.65 | $200 | $298,496.55 |
| 4 | $1,998.65 | $1,492.48 | $306.17 | $200 | $297,990.38 |
| 5 | $1,998.65 | $1,489.95 | $308.7 | $200 | $297,481.68 |
| 6 | $1,998.65 | $1,487.41 | $311.24 | $200 | $296,970.44 |
| 7 | $1,998.65 | $1,484.85 | $313.8 | $200 | $296,456.64 |
| 8 | $1,998.65 | $1,482.28 | $316.37 | $200 | $295,940.27 |
| 9 | $1,998.65 | $1,479.7 | $318.95 | $200 | $295,421.32 |
| 10 | $1,998.65 | $1,477.11 | $321.54 | $200 | $294,899.78 |
| 11 | $1,998.65 | $1,474.5 | $324.15 | $200 | $294,375.63 |
| 12 | $1,998.65 | $1,471.88 | $326.77 | $200 | $293,848.85 |
| 13 | $1,998.65 | $1,469.24 | $329.41 | $200 | $293,319.45 |
| 14 | $1,998.65 | $1,466.6 | $332.05 | $200 | $292,787.39 |
| 15 | $1,998.65 | $1,463.94 | $334.71 | $200 | $292,252.68 |
| 16 | $1,998.65 | $1,461.26 | $337.39 | $200 | $291,715.29 |
| 17 | $1,998.65 | $1,458.58 | $340.08 | $200 | $291,175.21 |
| 18 | $1,998.65 | $1,455.88 | $342.78 | $200 | $290,632.44 |
| 19 | $1,998.65 | $1,453.16 | $345.49 | $200 | $290,086.95 |
| 20 | $1,998.65 | $1,450.43 | $348.22 | $200 | $289,538.73 |
| 21 | $1,998.65 | $1,447.69 | $350.96 | $200 | $288,987.77 |
| 22 | $1,998.65 | $1,444.94 | $353.71 | $200 | $288,434.06 |
| 23 | $1,998.65 | $1,442.17 | $356.48 | $200 | $287,877.58 |
| 24 | $1,998.65 | $1,439.39 | $359.26 | $200 | $287,318.32 |
Note: This is an estimate. Actual loan servicing may apply extra payments differently.
How to use this amortization schedule with extra payments
- Enter the loan amount (principal).
- Enter the annual interest rate (APR).
- Enter the loan term in years.
- Enter your extra monthly payment amount.
- Click Calculate to generate a full amortization schedule and see interest savings.
Example
For example, if you borrow $300,000 at 6% for 30 years and pay an extra $200 per month, this tool will show:
- A full month-by-month amortization schedule including extra payments.
- New payoff time (months/years).
- Total interest with vs. without extra payments and the interest saved.
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