Accurate Amortization Calculator

Create a printable amortization schedule with dates
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Create a printable amortization schedule, with dates and subtotals, to see how much principal and interest you'll pay over time. This calculator will calculate an uknown payment amount, loan amount, rate, or term.

How to Create an Amortization Schedule

Amortization Schedule
Amortization Schedule

Create a printable amortization schedule with dates to see how much principal and interest you'll pay over time.

  • Export to Excel/.xlsx and Word/.docx files.
  • Calculate loan payment amount or other unknowns
  • Supports 9 types of amortization.
  • User can set loan closing date and first payment date independently.
  • Automatically calculates prepaid interest
  1. Leave all inputs and setting set to their defaults, and:
    • Enter the "Loan Amount."
    • Enter the expected "Number of Payments."
    • Enter the anticipated "Annual Interest Rate."
  2. Set "Payment Amount" to "0."
    (the unknown)
  3. Click either "Calc" or "Print Preview".

That's it! That's all you need to do to create your schedule quickly.

But what if the terms of your loan do not conform to this calculator's default settings?

Then keep reading. I'll explain all the options below. More

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  • Feb. 16: On smaller desktop monitors, the browser should set the calculator, by default, to an easier-to-use size — no change for mobile devices. Users can always adjust the size by clicking the '-' or '+' buttons. Please let me know if you have any difficulties. The sizing improvement will be rolled out to nearly all calculators over the coming weeks.
  • Jan. 10, 2024: Changed the default long and short-period interest options under "Settings." This means you will not get the same results you previously had unless you reselect your preferred setting.
  • 2023: Save any schedule's data to Word/docx or Excel/xlsx files. Click on "Print Preview" then "Continue" past the title page.

Always enter (and reenter) a 0 for the unknown value.

Cheat Sheet
YearsBiweeklyMonthly
410448
513060
615672
10260120
15390180
20520240
25650300
30780360

Note - You must enter a zero if you want a value calculated.

Why?

Because we want this calculator to create a payment schedule using the loan terms you need. The payment amount can be whatever you want it to be. A payment is "correct" as long as both the lender and debtor agree on the amount! (If the calculator always recalculated the last unknown, then this feature would not be possible.)

TIP - Use an amortization schedule to confirm the periodic interest charges. Interest amounts are the calculations that borrowers should be validating.

Four values you will always need to set:

  • Loan Amount - the amount borrowed, i.e., the principal amount. It does not include interest.
  • Number of Payments (term) - the length of the loan. The "Payment Frequency" setting also impacts the loan's term. For a term of fifteen years, if the payment frequency is biweekly, you need to enter 390 for the number of payments. (390 biweekly payments = 15 years)
  • Annual Interest Rate - the nominal interest rate. This the quoted interest rate for the loan.
  • Payment Amount - the amount that is due on each payment due date. For "normal amortization," this includes principal and interest.

Set one of the above to 0 if unknown.


  • How do I calculate how much I can borrow?
    1. set the loan amount to zero
    2. enter the number of payments
    3. enter the annual interest rate, and
    4. enter the expected or desired payment
    5. click "Calc" or "Print Preview"
  • How do I calculate how long it will take to pay off a loan?
    1. enter the loan amount
    2. set the number of payments to zero
    3. enter the annual interest rate, and
    4. enter the expected or desired payment
    5. click "Calc" or "Print Preview"
  • What interest rate allows me to pay $500 a month?
    1. enter the loan amount
    2. enter the number of payments
    3. set the annual interest rate to zero, and
    4. enter $500 for the payment amount
    5. click "Calc" or "Print Preview"

How to get an accurate amortization schedule.

About Dates - they may be (or may not be) important (to you):

Date selection via pop-up calendar

To Quickly
Pick a Date

If you want an estimated schedule, you may skip over this section.

If you want an accurate, to the penny amortization schedule, you should spend a minute or two understanding these options.

  • Loan Closing Date - the date the money is available. It is also known as the origination date, loan date, or start date.
  • First Payment Due - for leases, it may be the same as the closing date; otherwise, payments will usually start sometime after the borrower has had access to the loan proceeds.

Important - Selecting dates will result in interest charges as well as payment calculations that do not match other calculators.

And that's the point!

However, if you want to match other calculators, then set the "Loan Date" and "First Payment Due" so that the time between them equals one full period as set by "Payment Frequency."

Example: If April 10th is the "Loan Date" and the "Payment Frequency" is "Monthly," then set the "First Payment Due" to May 10th, that is if you want an estimated interest calculation.

More details about the settings available for odd day and irregular period interest.

Four loan options you most likely don't need to touch.

  • Payment Period or Frequency - how often do you want to schedule payments? The calculator supports 11 options, including biweekly, monthly, and semiannual (useful for bond coupon interest schedules). The schedule calculates the payment dates from the first payment due date (not the closing date).
  • Compounding Period or Frequency - usually, the compounding frequency should be set to the same setting as the payment frequency. Doing so results in simple, periodic interest. Setting this option to "Exact/Simple" results in simple, exact day interest.
  • Points - one point is one percent of the loan amount. Points are generally applicable to U.S. mortgages. More about loan schedules with points, fees, and APR support.
  • Amortization Method - leave this setting set to "normal" unless you have a specific reason for setting it otherwise. For a complete explanation of these options, see Nine Loan Amortization Methods.

Five loan options you may want to tweak.

Interest calculation options
Fig. 1 - Interest options that impact the calculated schedule.

These options are available by clicking on "Settings."

  • 360 / 365 / 366 - days-per-year option. This setting impacts interest calculations when you set compounding frequency to a day based frequency (daily, exact/simple or continuous) or when there are odd days caused by an initial irregular length period. The 366 days in year option applies to leap years, otherwise the interest calculation uses 365 days.
  • Payment & Initial Period Interest Options - settings for how interest is shown on the schedule when the initial payment period (the time between the closing date and first payment date) is longer or shorter than the selected payment frequency. Click for more details and examples.
  • Last Period Rounding Options - due to payment and interest rounding each pay period (for example, payment or interest might calculate to 345.0457, but a schedule will round the value to 345.05), almost all loan schedules need a final rounding adjustment to bring the balance to "0." A footnote on the payment schedule informs you of the rounding amount.
  • Points, Charges, & APR Options - see loan schedules with points, fees, and APR support.
  • Year-End Month - this setting establishes after what month the calculator shows year-end and running totals. This option is to accommodate businesses with fiscal year ends that do not coincide with the calendar year-end.

Printing the Payment Schedule

Printing will work from any type of device. It's pretty cool to print a well-formatted schedule from a smartphone that is connected wirelessly to a modern printer. (I've personally tested this using various iPhones printing to an HP LaserJet Pro printer.)

DO NOT USE THE PRINT SELECTION FROM YOUR BROWSER'S MENU.

Make sure you are printing from the "Print Preview..." window where there is a print button along with .docx and .xlsx buttons.

If you are using a modern browser, you can print to a PDF as well. For example, if you are using Chrome, click on the menu (the three verticle dots) and select "Print..." Click on the "Change..." button and select "Save as PDF." Other browsers will work similarly.

If you have any problems, please let me know what browser and version you are using. I can test various browsers, but unfortunately, I can't check too many printers (unless you plan to donate one to the cause!).

Save amortization to PDF
Fig. 2 - Modern browsers can print the amortization schedule to a PDF file.
(Chrome, Edge and Firefox all have a "Save to PDF" option accessible from their print menus.)

Excel/xlsx or Word/docx amortization schedules

From the "Print Preview" screen (after the title page) along with the print option, you'll be given the option to save the full amortization schedule to either an Excel/xlsx file or a Word/docx file. When exporting to Excel, the schedule is exported as data (no formatting). The dates and numbers are are represented in Excel as true dates and numbers and not text. The user can apply their own formatting as desired.

If you save to a Word/docx file, the amortization schedule is nicely formatted. You are free to add your own notes or to change the formatting, fonts and style as needed. Also, in my opinion, the Word amortization schedule is a bit prettier than the one you can print using the print button.

Beyond Basic Amortization Schedules

Hopefully, you'll find this to be a full-featured amortization calculator. If there's something you need, and it's not clear how to accomplish it, you may leave your question in the comments below

456 Comments on “Amortization Schedule”

Join the conversation. Tell me what you think.
  • Karen Van Dam says:

    I am trying to print an amoratization table out with no interest. Is there a way to do that?

  • Patty McGuire says:

    I am unable to print my amortization schedule. It says at the bottom of the title page that at some time in 2022 we my not be able to print. Did this happen as of now? Is there somewhere else to print it? Thank you.

    • As of now, there are no restrictions. Everything will print.

      When you fill in the title page, did you click either continue or skip (meaning skip the title page). You can close the window with the “X”.

      • Patty McGuire says:

        Thank you. Got it. There was an ad on the bottom of the page and I didn’t realize I should get rid of that. It was preventing me from seeing the “Continue” part. I’m a senior and not always good with computers.
        I have used this site before and find it easy to work with. Appreciate your prompt response.
        Thanks!

        • Oh, thank you for letting me know what had caused the confusion. I was not aware of this. (Google introduced the option for the pop-up ad at the bottom of the pages after I had released the current site design, and I guess I never checked this.)

          I’ll try to fix the problem when the next site update is released toward the end of this year.

  • Debbie Douglas says:

    How can I set a schedule for only 9 payments per year instead of 12?

    • You’ll need to use the Ultimate Financial Calculator.

      The calculator will allow the user to set the payment on any date.

      Also, there are cash flow options for skipping payments. For example, if you want to automatically have the calculator skip June, July and August, it can do that too.

      On the above linked page, there is a link to a number of tutorials that should get you started.

  • zigmund stevens says:

    So, the amortization schedule is beautiful. when I hit the print preview button is brings up a title page but whether I fill it out or not the amortization schedule doesn’t print. How do I print it?

    • Glad to hear that you like the amortization schedule.

      From the windows that ask for the details for the title page, you should be able to click on either "Skip" or "Continue" at the bottom of the window to print the schedule.

      Are you saying that’s what you are doing, and the schedule does not print?

  • The monthly payment is different on this site than all others. I like the way you give an annual total showing interest. BUT, I do not understand why you are showing compounding for the interest. I have never seen that on a mortgage loan. This is owner financing for a 5 year term. I would like NO compounding. Why is the payment less on your site than all others. $1019.25 for a 5 year loan on your site. All others are $1027.92. Please advise

    • Thanks for your question. All details are important (for example, what’s the loan amount? 🙂 ). I, therefore, can’t advise, but I can give you some pointers.

      If you want no compounding, set the payment frequency and compounding frequency to the same value. (This calculator is not just for mortgages.)

      As to the payment calculation, are the loan closing date and the first payment date exactly one payment frequency apart? If not, how are you setting either the long or short initial period interest calculations options under "settings"? Those settings can impact the payment calculation. My guess is you set the calculation up to have an irregular length first period, and that’s why there is a difference in the payment calculation. Since this calculator calculates a lower payment, did you set the dates to the same date? Usually, that’s not how mortgages work.

      But, remember, there is no such thing as a single "right" payment. Any payment amount can be deemed correct as long as both the buyer and seller agree to it. That’s why this calculator allows users to enter the payment amount. If you want the payment to be $1027.92, then enter that as your payment. The calculator will calculate the correct interest, and that’s what counts.

      Are you the seller? Are you going to need to track the payments they are made? Will you need to allow for the possibility of late, missed, or extra payments?

      If so, then I suggest that you use this loan payoff calculator.

  • I want to view the amortization schedule with extra payments. I went to the extra payments an put in the amount but I don’t know how to view it.

    • What calculator are you using? Not the one on this page. It doesn’t support extra payments.

      Please repost the question at the bottom of the calculator page you are using, and then I can answer the question.

  • Just want to say thank you for this. I use this constantly and share to others who have questions about how to calculate anything. This we site spread financial literacy by offering free access – multiple types of calculations – thorough instructions. It has saved me a lot!! Just want to say thank you – been using since 2017

  • Is there a way to find this without compounding

  • Erica Osborne says:

    I have a note that is for $200,000.00, 2% interest starts 11/1/2022. $20,000.00 payments, including interest start 7/5/2024 and continue every 6 months thereafter. How can I do this?

    • Sure, but could you tell me what you’ve tried (what your inputs and settings are) and where the problem is?

      • Erica Osborne says:

        I entered all of the information and when I say calculate, it shows a payment on 11/1 for interest.

        • Sure. That’s because the initial period for this loan is "Long." (The payment terms are every 6 months, but Nov. 1 to July 5 is longer than 6 months.) Under "Settings" there’s an setting for "Long/Short Period Options." There you’ll find 4 options for long periods including "None" which means you want to ignore the interest for the extra days. Does that help?

  • I am doing a payment schedule with no interest. I am setting the same for first payment in December, 2022, I mistakely entered it for 01/01/2023. When it printed it set the 1st payment through 22 for $300.00 and the 23rd and final payment it set for $400.00. I went back and corrected it to make it print the first payment in December, rather than January, and it sets the first instead of the last payment as $400.00. How can I make it put the last payment at $400.00 instead of the first?

    • Not sure I’m following you 100%. Do you have the “Amortization Method” set to “No Interest”?

      If so, what have you entered for the loan amount, loan date, and first payment date (and I’m assuming monthly for the payment frequency)?

      • Yes, when I emailed you I went back and entered the same again and this time it set the last payment to be $400.00 in lieu of the first payment being $400.00. What I was saying, or attempting to say, was that the amortization when I put it in made payment #1 be $400.00 with the other 22 payments at $300.00. When I went back the second time, I put in the exact same information and it made the firt 22 payments be at $300.00 each and the 24th payment to reflect $400.00. It just makes more sense to me that the last payment would be the largest of the 23 payments, not the 1st payment. The program corrected itself and listed the first 22 payments as being the same with the last payment now showing up as $400.00. I do appreciate your response and my “pure luck” communication was quite a find as far as I am concerned, and now that I have found it, I have shared it with many of my colleagues and friends. Great program and your responding to questions and issues gives excellent feedback. Thank you and I seriously appreciate your feedback and apologize but my finding it was in a search and I felt like it was “pure luck,” but I do have it bookmarked now and no longer need luck. I do hope if it is modified at year’s end that I can receive some notice so I can continue to use the same as it is an excellent program and formatted well to assist event the novice user to understand and use.

        • I’m glad you appreciate the calculator and the report features, but I can’t help you get what you need unless you actually answer my questions. 🙂

          • I am sorry, but my last reply said that the goal I was addressing, that is, having the first payment through the 22nd payment to be equal and the unequal payment to be the 23rd payment, had been achieved when I ran the program a second time. Sorry for the misunderstanding, and I may not have explained it, but I did not want the Borrower to pay $400.00 for the first payment and $300.00 for the remaining 22 payments. I thought the payment of the same should reflect the increased payment as the final payment, not the first payment. Not a concern as it printed it the second time the way I wanted it to print. Thanks for your response.

          • Okay. As long as you’re good, that’s what counts. 🙂

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