Loan Amortization Schedule Calculator
Visualize your mortgage repayment month by month
How does an amortization schedule work?
The amortization schedule is an essential tool to visualize your mortgage loan repayment. It details month by month the breakdown between principal and interest.
What is an amortization schedule?
The amortization schedule presents the complete repayment schedule of your loan. For each monthly payment, you can see the principal repaid, interest paid, and remaining balance. This tool helps you understand how your debt evolves over time.
Understanding principal/interest allocation
At the beginning of the loan, the interest portion is larger than the principal portion in your monthly payment. This proportion gradually reverses: at the end of the loan, you mainly repay principal. This is why early repayment at the start of the loan saves more interest.
Using the schedule to optimize
The amortization schedule helps you make strategic decisions: determine the best time for early repayment, compare different loan durations, or assess the impact of refinancing. You can also export the schedule to CSV for your personal analysis.
The Annual Percentage Rate (APR)
The APR includes all credit costs: interest rate, application fees, borrower insurance, guarantees. It allows you to objectively compare different loan offers. An APR of 4% means the total cost of credit represents 4% per year of the amount borrowed.
Frequently Asked Questions
What is the difference between an amortizing loan and a bullet loan?
An amortizing loan is the most common type: you gradually repay principal and interest each month. Conversely, a bullet loan only repays interest throughout the term, then the principal in one lump sum at the end. Amortizing loans are preferred for primary residences as they allow gradual ownership.
Why is interest higher at the beginning of the loan?
Interest is calculated on the remaining balance. At the start of the loan, this amount is maximum, so interest is high. As repayments progress, the principal decreases, and so does the interest. The monthly payment remains fixed, but its composition changes: more principal, less interest over time.
When should I make an early repayment?
Early repayment is more advantageous at the beginning of the loan, as you save future interest that would have been calculated on this principal. At the end of the loan, the impact is lower as you have already paid most of the interest. Watch out for early repayment penalties that may reduce the benefit.
How do I calculate the total cost of my credit?
Total cost of credit = (Monthly payment × Number of months) - Amount borrowed. For example, for a €200,000 loan at 3.5% over 20 years with a monthly payment of €1,160, the total cost will be (€1,160 × 240 months) - €200,000 = €78,400 in interest. Our calculator displays this cost automatically.
What does APR mean and why is it important?
The Annual Percentage Rate (APR) represents the total real cost of your credit including all fees: interest, insurance, application fees, guarantees. It allows objective comparison of multiple loan offers. APR is always higher than the nominal rate. It is the legal reference indicator for comparing credits.
Can I modulate my monthly payments?
Some loan contracts offer payment modulation. You can increase your payments (to repay faster and save interest) or temporarily decrease them (in case of income reduction). These options are generally limited to ±30% of the initial payment and capped in number per year. Check your contract or contact your bank.
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