30 Year Fixed Rate Mortgage Amortization Example

The 30 year fixed rate mortgage tends to be the most popular type of home loan because it offers monthly payments that are predictable since the interest rate stays the same over the life of loan and more manageable since they are amortized over 30 years.

In this example, we compare the amortization schedules for a $300,000 40 year fixed mortgage at a 4% annual interest rate to a 30 year fixed mortgage at 3.5%. After reviewing this example, enter your desired mortgage amount and term into the mortgage amortization calculator to see how the principal and interest change over time and help you decide which mortgage best meets your needs.

Amortization Calculator ▼
Loan Amount $
Interest Rate	%
Amortization Period	years

This 30 year fixed has a monthly payment that is approximately $559 lower than the 15 year fixed. However, the 30 year fixed would require you to pay approximately $101,428 more in total interest over the life of the loan. If you keep the mortgage for 7 years before refinancing or selling the home, you would pay approximately $20,170 more in total interest for the 30 year fixed. As you can see, the length of time you plan to keep your mortgage can have a real impact on which type of mortgage will be most appropriate for you.

Note how little the principal balance changes in the early months of the mortgage and how much of it changes in the final years of the mortgage. This is why extra payments made early on can result in great savings.

Month	Principal Interest Payment	Interest	Principal	Balance ▲
1	$1,123	$729	$393	$249,607
2	$1,123	$728	$395	$249,212
3	$1,123	$727	$396	$248,816
4	$1,123	$726	$397	$248,419
5	$1,123	$725	$398	$248,021
6	$1,123	$723	$399	$247,622
7	$1,123	$722	$400	$247,222
8	$1,123	$721	$402	$246,820
9	$1,123	$720	$403	$246,417
10	$1,123	$719	$404	$246,013
11	$1,123	$718	$405	$245,608
12	$1,123	$716	$406	$245,202
Year 1	$13,471	$8,674	$4,798
13	$1,123	$715	$407	$244,795
14	$1,123	$714	$409	$244,386
15	$1,123	$713	$410	$243,976
16	$1,123	$712	$411	$243,565
17	$1,123	$710	$412	$243,153
18	$1,123	$709	$413	$242,740
19	$1,123	$708	$415	$242,325
20	$1,123	$707	$416	$241,909
21	$1,123	$706	$417	$241,492
22	$1,123	$704	$418	$241,074
23	$1,123	$703	$419	$240,654
24	$1,123	$702	$421	$240,234
Year 2	$13,471	$8,503	$4,969
25	$1,123	$701	$422	$239,812
26	$1,123	$699	$423	$239,388
27	$1,123	$698	$424	$238,964
28	$1,123	$697	$426	$238,538
29	$1,123	$696	$427	$238,111
30	$1,123	$694	$428	$237,683
31	$1,123	$693	$429	$237,254
32	$1,123	$692	$431	$236,823
33	$1,123	$691	$432	$236,391
34	$1,123	$689	$433	$235,958
35	$1,123	$688	$434	$235,524
36	$1,123	$687	$436	$235,088
Year 3	$13,471	$8,326	$5,145
37	$1,123	$686	$437	$234,651
38	$1,123	$684	$438	$234,213
39	$1,123	$683	$439	$233,774
40	$1,123	$682	$441	$233,333
41	$1,123	$681	$442	$232,891
42	$1,123	$679	$443	$232,447
43	$1,123	$678	$445	$232,003
44	$1,123	$677	$446	$231,557
45	$1,123	$675	$447	$231,110
46	$1,123	$674	$449	$230,661
47	$1,123	$673	$450	$230,211
48	$1,123	$671	$451	$229,760
Year 4	$13,471	$8,143	$5,328
49	$1,123	$670	$452	$229,307
50	$1,123	$669	$454	$228,854
51	$1,123	$667	$455	$228,398
52	$1,123	$666	$456	$227,942
53	$1,123	$665	$458	$227,484
54	$1,123	$664	$459	$227,025
55	$1,123	$662	$460	$226,565
56	$1,123	$661	$462	$226,103
57	$1,123	$659	$463	$225,640
58	$1,123	$658	$464	$225,175
59	$1,123	$657	$466	$224,709
60	$1,123	$655	$467	$224,242
Year 5	$13,471	$7,954	$5,518
61	$1,123	$654	$469	$223,774
62	$1,123	$653	$470	$223,304
63	$1,123	$651	$471	$222,832
64	$1,123	$650	$473	$222,360
65	$1,123	$649	$474	$221,886
66	$1,123	$647	$475	$221,410
67	$1,123	$646	$477	$220,933
68	$1,123	$644	$478	$220,455
69	$1,123	$643	$480	$219,975
70	$1,123	$642	$481	$219,494
71	$1,123	$640	$482	$219,012
72	$1,123	$639	$484	$218,528
Year 6	$13,471	$7,757	$5,714
73	$1,123	$637	$485	$218,043
74	$1,123	$636	$487	$217,556
75	$1,123	$635	$488	$217,068
76	$1,123	$633	$489	$216,579
77	$1,123	$632	$491	$216,088
78	$1,123	$630	$492	$215,595
79	$1,123	$629	$494	$215,101
80	$1,123	$627	$495	$214,606
81	$1,123	$626	$497	$214,110
82	$1,123	$624	$498	$213,611
83	$1,123	$623	$500	$213,112
84	$1,123	$622	$501	$212,611
Year 7	$13,471	$7,554	$5,917
85	$1,123	$620	$503	$212,108
86	$1,123	$619	$504	$211,604
87	$1,123	$617	$505	$211,099
88	$1,123	$616	$507	$210,592
89	$1,123	$614	$508	$210,084
90	$1,123	$613	$510	$209,574
91	$1,123	$611	$511	$209,062
92	$1,123	$610	$513	$208,549
93	$1,123	$608	$514	$208,035
94	$1,123	$607	$516	$207,519
95	$1,123	$605	$517	$207,002
96	$1,123	$604	$519	$206,483
Year 8	$13,471	$7,344	$6,128
97	$1,123	$602	$520	$205,963
98	$1,123	$601	$522	$205,441
99	$1,123	$599	$523	$204,917
100	$1,123	$598	$525	$204,392
101	$1,123	$596	$526	$203,866
102	$1,123	$595	$528	$203,338
103	$1,123	$593	$530	$202,808
104	$1,123	$592	$531	$202,277
105	$1,123	$590	$533	$201,745
106	$1,123	$588	$534	$201,210
107	$1,123	$587	$536	$200,675
108	$1,123	$585	$537	$200,137
Year 9	$13,471	$7,126	$6,346
109	$1,123	$584	$539	$199,598
110	$1,123	$582	$540	$199,058
111	$1,123	$581	$542	$198,516
112	$1,123	$579	$544	$197,972
113	$1,123	$577	$545	$197,427
114	$1,123	$576	$547	$196,880
115	$1,123	$574	$548	$196,332
116	$1,123	$573	$550	$195,782
117	$1,123	$571	$552	$195,230
118	$1,123	$569	$553	$194,677
119	$1,123	$568	$555	$194,122
120	$1,123	$566	$556	$193,566
Year 10	$13,471	$6,900	$6,571
121	$1,123	$565	$558	$193,008
122	$1,123	$563	$560	$192,448
123	$1,123	$561	$561	$191,887
124	$1,123	$560	$563	$191,324
125	$1,123	$558	$565	$190,759
126	$1,123	$556	$566	$190,193
127	$1,123	$555	$568	$189,625
128	$1,123	$553	$570	$189,056
129	$1,123	$551	$571	$188,484
130	$1,123	$550	$573	$187,912
131	$1,123	$548	$575	$187,337
132	$1,123	$546	$576	$186,761
Year 11	$13,471	$6,666	$6,805
133	$1,123	$545	$578	$186,183
134	$1,123	$543	$580	$185,603
135	$1,123	$541	$581	$185,022
136	$1,123	$540	$583	$184,439
137	$1,123	$538	$585	$183,854
138	$1,123	$536	$586	$183,268
139	$1,123	$535	$588	$182,680
140	$1,123	$533	$590	$182,090
141	$1,123	$531	$592	$181,499
142	$1,123	$529	$593	$180,905
143	$1,123	$528	$595	$180,310
144	$1,123	$526	$597	$179,714
Year 12	$13,471	$6,424	$7,047
145	$1,123	$524	$598	$179,115
146	$1,123	$522	$600	$178,515
147	$1,123	$521	$602	$177,913
148	$1,123	$519	$604	$177,309
149	$1,123	$517	$605	$176,704
150	$1,123	$515	$607	$176,097
151	$1,123	$514	$609	$175,488
152	$1,123	$512	$611	$174,877
153	$1,123	$510	$613	$174,264
154	$1,123	$508	$614	$173,650
155	$1,123	$506	$616	$173,034
156	$1,123	$505	$618	$172,416
Year 13	$13,471	$6,174	$7,298
157	$1,123	$503	$620	$171,796
158	$1,123	$501	$622	$171,175
159	$1,123	$499	$623	$170,551
160	$1,123	$497	$625	$169,926
161	$1,123	$496	$627	$169,299
162	$1,123	$494	$629	$168,670
163	$1,123	$492	$631	$168,040
164	$1,123	$490	$632	$167,407
165	$1,123	$488	$634	$166,773
166	$1,123	$486	$636	$166,137
167	$1,123	$485	$638	$165,498
168	$1,123	$483	$640	$164,859
Year 14	$13,471	$5,914	$7,557
169	$1,123	$481	$642	$164,217
170	$1,123	$479	$644	$163,573
171	$1,123	$477	$646	$162,928
172	$1,123	$475	$647	$162,280
173	$1,123	$473	$649	$161,631
174	$1,123	$471	$651	$160,980
175	$1,123	$470	$653	$160,327
176	$1,123	$468	$655	$159,672
177	$1,123	$466	$657	$159,015
178	$1,123	$464	$659	$158,356
179	$1,123	$462	$661	$157,695
180	$1,123	$460	$663	$157,032
Year 15	$13,471	$5,645	$7,826
181	$1,123	$458	$665	$156,368
182	$1,123	$456	$667	$155,701
183	$1,123	$454	$668	$155,033
184	$1,123	$452	$670	$154,362
185	$1,123	$450	$672	$153,690
186	$1,123	$448	$674	$153,016
187	$1,123	$446	$676	$152,339
188	$1,123	$444	$678	$151,661
189	$1,123	$442	$680	$150,981
190	$1,123	$440	$682	$150,298
191	$1,123	$438	$684	$149,614
192	$1,123	$436	$686	$148,928
Year 16	$13,471	$5,367	$8,105
193	$1,123	$434	$688	$148,240
194	$1,123	$432	$690	$147,549
195	$1,123	$430	$692	$146,857
196	$1,123	$428	$694	$146,163
197	$1,123	$426	$696	$145,467
198	$1,123	$424	$698	$144,768
199	$1,123	$422	$700	$144,068
200	$1,123	$420	$702	$143,365
201	$1,123	$418	$704	$142,661
202	$1,123	$416	$707	$141,954
203	$1,123	$414	$709	$141,246
204	$1,123	$412	$711	$140,535
Year 17	$13,471	$5,079	$8,393
205	$1,123	$410	$713	$139,822
206	$1,123	$408	$715	$139,108
207	$1,123	$406	$717	$138,391
208	$1,123	$404	$719	$137,672
209	$1,123	$402	$721	$136,951
210	$1,123	$399	$723	$136,228
211	$1,123	$397	$725	$135,502
212	$1,123	$395	$727	$134,775
213	$1,123	$393	$730	$134,045
214	$1,123	$391	$732	$133,314
215	$1,123	$389	$734	$132,580
216	$1,123	$387	$736	$131,844
Year 18	$13,471	$4,780	$8,691
217	$1,123	$385	$738	$131,106
218	$1,123	$382	$740	$130,366
219	$1,123	$380	$742	$129,623
220	$1,123	$378	$745	$128,879
221	$1,123	$376	$747	$128,132
222	$1,123	$374	$749	$127,383
223	$1,123	$372	$751	$126,632
224	$1,123	$369	$753	$125,879
225	$1,123	$367	$755	$125,123
226	$1,123	$365	$758	$124,366
227	$1,123	$363	$760	$123,606
228	$1,123	$361	$762	$122,844
Year 19	$13,471	$4,471	$9,000
229	$1,123	$358	$764	$122,079
230	$1,123	$356	$767	$121,313
231	$1,123	$354	$769	$120,544
232	$1,123	$352	$771	$119,773
233	$1,123	$349	$773	$119,000
234	$1,123	$347	$776	$118,224
235	$1,123	$345	$778	$117,446
236	$1,123	$343	$780	$116,666
237	$1,123	$340	$782	$115,884
238	$1,123	$338	$785	$115,099
239	$1,123	$336	$787	$114,312
240	$1,123	$333	$789	$113,523
Year 20	$13,471	$4,151	$9,320
241	$1,123	$331	$792	$112,732
242	$1,123	$329	$794	$111,938
243	$1,123	$326	$796	$111,142
244	$1,123	$324	$798	$110,343
245	$1,123	$322	$801	$109,542
246	$1,123	$320	$803	$108,739
247	$1,123	$317	$805	$107,934
248	$1,123	$315	$808	$107,126
249	$1,123	$312	$810	$106,316
250	$1,123	$310	$813	$105,503
251	$1,123	$308	$815	$104,688
252	$1,123	$305	$817	$103,871
Year 21	$13,471	$3,819	$9,652
253	$1,123	$303	$820	$103,051
254	$1,123	$301	$822	$102,229
255	$1,123	$298	$824	$101,405
256	$1,123	$296	$827	$100,578
257	$1,123	$293	$829	$99,749
258	$1,123	$291	$832	$98,917
259	$1,123	$289	$834	$98,083
260	$1,123	$286	$837	$97,246
261	$1,123	$284	$839	$96,407
262	$1,123	$281	$841	$95,566
263	$1,123	$279	$844	$94,722
264	$1,123	$276	$846	$93,876
Year 22	$13,471	$3,476	$9,995
265	$1,123	$274	$849	$93,027
266	$1,123	$271	$851	$92,176
267	$1,123	$269	$854	$91,322
268	$1,123	$266	$856	$90,466
269	$1,123	$264	$859	$89,607
270	$1,123	$261	$861	$88,746
271	$1,123	$259	$864	$87,882
272	$1,123	$256	$866	$87,016
273	$1,123	$254	$869	$86,147
274	$1,123	$251	$871	$85,275
275	$1,123	$249	$874	$84,401
276	$1,123	$246	$876	$83,525
Year 23	$13,471	$3,121	$10,351
277	$1,123	$244	$879	$82,646
278	$1,123	$241	$882	$81,764
279	$1,123	$238	$884	$80,880
280	$1,123	$236	$887	$79,994
281	$1,123	$233	$889	$79,104
282	$1,123	$231	$892	$78,212
283	$1,123	$228	$894	$77,318
284	$1,123	$226	$897	$76,421
285	$1,123	$223	$900	$75,521
286	$1,123	$220	$902	$74,619
287	$1,123	$218	$905	$73,714
288	$1,123	$215	$908	$72,806
Year 24	$13,471	$2,752	$10,719
289	$1,123	$212	$910	$71,896
290	$1,123	$210	$913	$70,983
291	$1,123	$207	$916	$70,067
292	$1,123	$204	$918	$69,149
293	$1,123	$202	$921	$68,228
294	$1,123	$199	$924	$67,304
295	$1,123	$196	$926	$66,378
296	$1,123	$194	$929	$65,449
297	$1,123	$191	$932	$64,517
298	$1,123	$188	$934	$63,583
299	$1,123	$185	$937	$62,646
300	$1,123	$183	$940	$61,706
Year 25	$13,471	$2,371	$11,100
301	$1,123	$180	$943	$60,763
302	$1,123	$177	$945	$59,818
303	$1,123	$174	$948	$58,870
304	$1,123	$172	$951	$57,919
305	$1,123	$169	$954	$56,965
306	$1,123	$166	$956	$56,009
307	$1,123	$163	$959	$55,049
308	$1,123	$161	$962	$54,087
309	$1,123	$158	$965	$53,122
310	$1,123	$155	$968	$52,155
311	$1,123	$152	$970	$51,184
312	$1,123	$149	$973	$50,211
Year 26	$13,471	$1,976	$11,495
313	$1,123	$146	$976	$49,235
314	$1,123	$144	$979	$48,256
315	$1,123	$141	$982	$47,274
316	$1,123	$138	$985	$46,289
317	$1,123	$135	$988	$45,302
318	$1,123	$132	$990	$44,311
319	$1,123	$129	$993	$43,318
320	$1,123	$126	$996	$42,321
321	$1,123	$123	$999	$41,322
322	$1,123	$121	$1,002	$40,320
323	$1,123	$118	$1,005	$39,315
324	$1,123	$115	$1,008	$38,307
Year 27	$13,471	$1,568	$11,904
325	$1,123	$112	$1,011	$37,296
326	$1,123	$109	$1,014	$36,282
327	$1,123	$106	$1,017	$35,266
328	$1,123	$103	$1,020	$34,246
329	$1,123	$100	$1,023	$33,223
330	$1,123	$97	$1,026	$32,197
331	$1,123	$94	$1,029	$31,169
332	$1,123	$91	$1,032	$30,137
333	$1,123	$88	$1,035	$29,102
334	$1,123	$85	$1,038	$28,064
335	$1,123	$82	$1,041	$27,024
336	$1,123	$79	$1,044	$25,980
Year 28	$13,471	$1,144	$12,327
337	$1,123	$76	$1,047	$24,933
338	$1,123	$73	$1,050	$23,883
339	$1,123	$70	$1,053	$22,830
340	$1,123	$67	$1,056	$21,774
341	$1,123	$64	$1,059	$20,715
342	$1,123	$60	$1,062	$19,653
343	$1,123	$57	$1,065	$18,588
344	$1,123	$54	$1,068	$17,519
345	$1,123	$51	$1,072	$16,448
346	$1,123	$48	$1,075	$15,373
347	$1,123	$45	$1,078	$14,295
348	$1,123	$42	$1,081	$13,214
Year 29	$13,471	$706	$12,766
349	$1,123	$39	$1,084	$12,130
350	$1,123	$35	$1,087	$11,043
351	$1,123	$32	$1,090	$9,953
352	$1,123	$29	$1,094	$8,859
353	$1,123	$26	$1,097	$7,762
354	$1,123	$23	$1,100	$6,662
355	$1,123	$19	$1,103	$5,559
356	$1,123	$16	$1,106	$4,453
357	$1,123	$13	$1,110	$3,343
358	$1,123	$10	$1,113	$2,230
359	$1,123	$6	$1,116	$1,114
360	$1,117	$3	$1,114	$0
Year 30	$13,466	$252	$13,214
Grand Total	$404,138	$154,138	$250,000

Fixed Rate Mortgages

» Get the Best Mortgage

» How Much Can I Afford?

» Refinance Calculator

Mortgage Calculator - Help

Amortization Schedule: The amortization schedule show you how monthly principal and interest payment and principal balances change over the life of your loan.
Interest: The portion of your mortgage payment that is due to the interest rate being applied to the principal balance. The Total Interest for a mortgage is the sum of all interest paid over the life of a loan.
Interest Rate: The percentage of the principal balance of your mortgage that determines how much interest you must pay. The interest rate on your mortgage may change or remain the same depending on the type of loan you have.
Loan Amount: The initial principal balance or your mortgage at closing.
Principal: The portion of your mortgage payment that is used to pay down the current balance of your mortgage. The principal balance represents how much you owe on the mortgage.
Term: The amortization term is one of the key factors that determine your required mortgage payment. Your required mortgage payment for fully amortizing mortgages is the amount that would result in the mortgage being closest to being paid off by the end of the amortization term. Longer amortization terms result in lower required mortgage payments for fully amortizating mortgages, all other things being equal.