Mortgage and Amortization Calculator
Compare level-payment and equal-principal monthly repayment, with a full amortization schedule.
Results
Review or adjust your inputs, then calculate to see your results and interpretation.
Understand this calculation
Equal principal usually requires a larger early payment but reduces balance faster and total interest. Compare affordability over time, not only the first payment.
See calculation method and assumptions
Formula
Level payment: nonzero and zero interest
Equal principal and period interest
Fixed nominal annual rate/12, month-end payments, no grace period, fees or prepayment. Monthly interest/payments round to cents, with a final balance adjustment; bank daily-accrual contracts may differ. Up to 1,200 months; annual rate 0–100%.
Variables, rates and periods
- P / r / n
- Principal / monthly rate r = i/12 / monthly term; i is the nominal annual rate.
- A / B / I
- Monthly payment / balance / monthly interest; at zero interest A = P/n.
Scope and assumptions
- Fixed nominal annual rate/12, month-end payments, no grace period, fees or prepayment.
- Monthly interest/payments round to cents, with a final balance adjustment;
- bank daily-accrual contracts may differ.
- Up to 1,200 months;
- annual rate 0–100%.
Compare level-payment and equal-principal monthly repayment, with a full amortization schedule.
Worked example
- At zero interest, a 1,200 loan over 12 months repays 100 each month with zero total interest.
- Change inputs and calculate again to compare assumptions.
Frequently asked questions
Is the result guaranteed?
Fixed nominal annual rate/12, month-end payments, no grace period, fees or prepayment. Monthly interest/payments round to cents, with a final balance adjustment; bank daily-accrual contracts may differ. Up to 1,200 months; annual rate 0–100%.
Does the example represent actual markets?
No. All examples are hypothetical and contain no live market data.