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FILE  WBH-MORT-06 SECTION  CALCULATOR DATE  05/14/2026

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Where does your mortgage payment actually go?

See every dollar of your mortgage payment: how much goes to interest vs principal each month. The truth your lender buries in fine print.

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Your Mortgage

Average 30-year fixed rate is ~7%
Loan term

The True Cost of Your Mortgage

Total interest paid

$558,036

that's 140% of your home's price

Monthly payment

$2,661

Total paid

$958,036

Interest % of home price

140%

Principal vs Interest by Year

Watch how early payments are mostly interest, shifting to principal over time.

Principal
Interest

Amortization Schedule

Every payment, broken down. See exactly where your money goes.

MonthPaymentPrincipalInterestBalanceCum. Interest
1$2,661$328$2,333$399,672$2,333
2$2,661$330$2,331$399,342$4,665
3$2,661$332$2,330$399,011$6,994
4$2,661$334$2,328$398,677$9,322
5$2,661$336$2,326$398,341$11,647
6$2,661$338$2,324$398,004$13,971
7$2,661$340$2,322$397,664$16,293
8$2,661$342$2,320$397,323$18,612
9$2,661$343$2,318$396,979$20,930
10$2,661$346$2,316$396,634$23,246
11$2,661$348$2,314$396,286$25,560
12$2,661$350$2,312$395,937$27,871

What your bank won't highlight: On this $400,000 loan, you'll pay $558,036 in interest - bringing your total cost to $958,036. In year 1, about 87% of every payment goes to interest - not your home. Explore our early payoff calculator to see how extra payments can dramatically cut this cost.

Mortgage Amortization Schedule
whatbankshide.com
Total interest: $558,036 (140% of home price)
Monthly payment$2,661/mo
Total paid$958,036
Total interest$558,036
Interest as % of price140%
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How It Works

Enter your mortgage amount, interest rate, and loan term. The calculator generates a complete month-by-month amortization schedule showing exactly how each payment splits between principal and interest.

The shocking truth: On a typical 30-year mortgage at 7%, you'll pay more in total interest than the home itself costs. Your first payment is roughly 70% interest - only 30% actually reduces what you owe. Banks are legally required to show you this breakdown, but they bury it in fine print for a reason.

The chart: The stacked bar chart shows how the split between principal (teal) and interest (red) changes each year. Early years are dominated by red - your bank's profit. Over time, the teal bars grow as more of each payment finally goes toward your home.

Take action: Once you see how much interest you're paying, explore our early payoff calculator or biweekly payment calculator to see how you can fight back against front-loaded interest.

You might also need

01

Mortgage Early Payoff

See how extra payments can dramatically cut your interest costs

 02

Biweekly Mortgage

The simple trick that saves years and thousands in interest

 03

Refinance Break-Even

Find out if refinancing makes sense for your situation
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Frequently asked

01 What is a mortgage amortization schedule?
An amortization schedule is a month-by-month breakdown of how each mortgage payment splits between principal (paying down your loan balance) and interest (the bank's profit). It shows the exact dollar amount going to each for every single payment over the life of your loan - and reveals how little goes toward your home in the early years.
02 Why do I pay so much interest at the beginning?
Interest is front-loaded by design. Banks calculate interest on your remaining balance each month. Since your balance is highest at the start, so is the interest charge. On a typical 30-year loan at 7%, about 70% of your early payments go to interest - meaning only 30 cents of every dollar actually pays down your home. This ratio gradually shifts over time, but it takes about 20 years before the majority of each payment goes to principal.
03 How much total interest will I pay on my mortgage?
On a $400,000 30-year mortgage at 7%, you'll pay approximately $558,000 in total interest - more than the price of the house itself. That means you're paying $958,000 total for a $400,000 home. The exact amount depends on your loan amount, interest rate, and term length. Use the calculator above with your actual numbers to see your specific total.
04 Can I get my amortization schedule from my bank?
Yes, your lender is required to provide an amortization schedule. But most banks present it as a dense table buried in your closing documents - they certainly won't highlight the shocking total interest amount or the fact that early payments are mostly profit for them. This calculator puts that information front and center so you can see the full picture.
05 How do extra payments change the amortization schedule?
Extra payments go directly to principal, which reduces your balance faster and means less interest accrues each month. Even small extra payments early in the loan can save tens of thousands in interest. Try our Mortgage Early Payoff Calculator to see exactly how much different extra payment strategies could save you.