|Principal & interest|
|Total Monthly Payment|
Amortization is paying off debt over time in equal installments. As the term of your mortgage loan progresses, a larger share of your payment goes toward paying down the principal until the loan is paid in full at the end of your term.
Total interest paid
Total cost of loan
By adding extra payments, you can pay off your loan and save on interest.
This table lists how much principal and interest are paid in each scheduled mortgage payment.