Mortgage Amortization Calculator
See exactly how your mortgage balance decreases over time — and how much of each payment goes to principal versus interest.
Loan amount$300,000
Interest rate7%
Loan term30 years
Monthly payment
$1,996
Total interest
$418,527
Total paid
$718,527
Yearly amortization schedule
| Year | Principal Paid | Interest Paid | Remaining Balance |
|---|---|---|---|
| 1 | $3,047 | $20,903 | $296,953 |
| 2 | $3,268 | $20,683 | $293,685 |
| 3 | $3,504 | $20,447 | $290,181 |
| 4 | $3,757 | $20,194 | $286,424 |
| 5 | $4,029 | $19,922 | $282,395 |
| 6 | $4,320 | $19,631 | $278,075 |
| 7 | $4,632 | $19,318 | $273,442 |
| 8 | $4,967 | $18,984 | $268,475 |
| 9 | $5,326 | $18,625 | $263,149 |
| 10 | $5,711 | $18,239 | $257,437 |
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This calculator uses an estimated rate. Morgan Hardy can provide an actual rate quote so your amortization schedule reflects real numbers.
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