Amortization is basically a schedule of your mortgage loan laid out over the term of your loan. For many mortgages, the payment is fixed over the life of the loan. Though your payment amount will remain the same, the percentage of your payment that goes toward principal and interest will shift.
The estimates from this calculator are based on the accuracy of the information you provide. The amortization calculator will show you how your payment shifts over time. This can help you plan for if and when you’d like to make any extra payments to pay down your principal.