How to read a mortgage amortization schedule
The payment can stay level while the balance changes. The schedule shows exactly how principal and interest move over time.
Every row explains one payment
An amortization schedule lists the payment date or number, the principal paid, interest charged and balance remaining. Taxes, insurance and other housing costs usually sit outside the loan amortization even when they are collected with the monthly payment.
Interest is larger near the beginning
Interest is calculated from the outstanding balance. Early in a typical fixed-rate mortgage, that balance is highest, so more of the payment goes to interest. As principal falls, the interest portion falls and more of the same payment reaches principal.
What to look for
Find the first month when principal exceeds interest, the estimated balance at a future move or refinance date, and the total interest across the full term. Those checkpoints are often more useful than scanning every row.
Open the schedule in Bricks Calc
- Enter the loan amount, rate, term and payment frequency.
- Open Results and select the amortization view.
- Move through the chart or monthly schedule.
- Review principal, interest and remaining balance at the date you care about.
- Save the calculation before adding a prepayment plan.
Compare one change at a time
Duplicate the plan and change the term, rate or extra payment. Comparing two schedules shows whether a lower monthly payment simply extends the debt, and how an extra payment changes both balance and total interest.
An amortization estimate can differ from a servicer schedule because of payment dates, rounding, fees, rate adjustments or how extra payments are applied.
See the loan month by month
View the payment, principal, interest and remaining balance on your Apple devices.
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