# Smart Loan Amortization Calculator

> Free loan and mortgage amortization calculator. See the monthly payment, principal versus interest, payoff date, and how extra payments shorten the loan. Export to Excel, CSV and PDF. Published by Pond Consulting.

This is a free calculator for a fixed-rate loan paid monthly. People also reach it as a mortgage calculator, loan calculator, amortization calculator, or to calculate a loan payment. It works for a mortgage, home loan, auto loan, personal loan, or any other fixed-rate amortizing loan. Amounts are shown in US dollars.

The site calculates a schedule. It does not make loans, quote a lender's rate, or give financial, tax, or legal advice.

## What it calculates

- Monthly payment of principal and interest
- Amortization schedule by year and by month
- Total interest, total amount paid, and the payoff date
- Principal versus interest, as a share of the loan and over time
- How extra monthly, yearly, or one-time payments shorten the loan and reduce interest

## How a schedule is built

- Interest each month is the unpaid balance multiplied by the monthly rate and rounded to the nearest cent. Extra payments reduce principal after the scheduled payment. The final payment is adjusted so the balance ends at zero.
- The term can be from 1 to 600 months. The interest rate can be from 0 to 100 percent.

## How to use it

- [Loan amortization calculator](https://smartloanamortization.com/): Enter the loan amount, annual interest rate, first payment month and year, and the term in years and months. Add optional extra payments, then calculate. Export the annual and monthly schedules as Excel, CSV, or PDF.

## Publisher

- [Pond Consulting](https://www.pondconsulting.biz)