Mortgage Amortization Calculator

Amortization is the schedule that splits each payment into interest and principal. Early payments are mostly interest. Extra principal goes straight to the balance, so later interest never accrues on that amount.

A simple way to think about it: if you add a fixed extra amount each month, you skip ahead on the schedule. The loan ends earlier, and total interest falls. Biweekly payments (half a payment every two weeks) create one extra full payment per year.

Extra payments do not replace an emergency fund, and they do not always beat investing the same cash or buying down the rate. Recast or a shorter term can be cleaner than an informal extra-payment habit if you want the savings locked in.

For a file-level extra-payment run, call Sal at (516) 250-1334 with your balance, rate, and term.

Educational only — not a commitment to lend. NMLS #1984347. Barrett Financial Group, LLC.

Ready for real numbers? Tell me about your situation and I’ll come back with actual numbers — start here. Takes two minutes. More detail in the Sal Bossio Mortgage guide. Prefer to talk? Call or text (516) 250-1334, any day, any time. NMLS #1984347.