Amortization US & Canada 10 min

Introduction to Mortgage Loans — Amortization Explained

A visual walkthrough of an amortization schedule — showing how each payment splits between principal and interest across 360 rows, where the crossover happens, and what extra payments do to the table.

What you'll learn

  • How to read an amortization table row by row
  • The "crossover point" — when principal paydown exceeds interest in each payment (around year 19 on a 30-year)
  • The exact dollar impact of adding $200/month extra on a $400,000 loan
  • How lump-sum extra payments compare to monthly extras for total interest saved

Apply it with a calculator