An amortization schedule is a table detailing each periodic payment on a mortgage loan, as will be generated by this amortization calculator.

While a portion of every payment is applied towards both the interest and the principal balance of the loan, the exact amount applied to principal each time varies (with the remainder going to interest). The amortization schedule reveals the specific monetary amount put towards interest, as well as the amount put towards the Principal balance, with each payment. Initially, a large portion of each payment is devoted to interest. As the loan matures, larger portions go towards paying down the principal.