Generate a full transparent month-by-month loan schedule inspired by the classic Bret Whissel calculator. Model extra principal payments, ARM interest rate adjustments, and interest savings.
Paying off high-interest credit cards? Use our dedicated tool to calculate payoff months and interest saved.
Credit Card Payoff Calculator →Need to calculate negative amortization where loan balance grows over time? See our HECM reverse mortgage tool.
Reverse Mortgage Calculator →Bret Whissel extra payment acceleration
| Year | Principal | Interest | Total Interest | Remaining Balance |
|---|---|---|---|---|
| Year 1 | $4,590 | $19,365 | $19,365 | $295,410 |
| Year 2 | $4,897 | $19,057 | $38,422 | $290,513 |
| Year 3 | $5,225 | $18,730 | $57,152 | $285,289 |
| Year 4 | $5,575 | $18,380 | $75,532 | $279,714 |
| Year 5 | $5,948 | $18,006 | $93,538 | $273,766 |
| Year 6 | $6,347 | $17,608 | $111,146 | $267,419 |
| Year 7 | $6,772 | $17,183 | $128,329 | $260,647 |
| Year 8 | $7,225 | $16,729 | $145,058 | $253,422 |
| Year 9 | $7,709 | $16,245 | $161,303 | $245,713 |
| Year 10 | $8,225 | $15,729 | $177,033 | $237,488 |
| Year 11 | $8,776 | $15,178 | $192,211 | $228,712 |
| Year 12 | $9,364 | $14,591 | $206,801 | $219,348 |
| Year 13 | $9,991 | $13,963 | $220,765 | $209,357 |
| Year 14 | $10,660 | $13,294 | $234,059 | $198,697 |
| Year 15 | $11,374 | $12,580 | $246,640 | $187,323 |
| Year 16 | $12,136 | $11,819 | $258,458 | $175,187 |
| Year 17 | $12,949 | $11,006 | $269,464 | $162,239 |
| Year 18 | $13,816 | $10,139 | $279,603 | $148,423 |
| Year 19 | $14,741 | $9,213 | $288,816 | $133,682 |
| Year 20 | $15,728 | $8,226 | $297,043 | $117,954 |
| Year 21 | $16,782 | $7,173 | $304,216 | $101,172 |
| Year 22 | $17,905 | $6,049 | $310,265 | $83,267 |
| Year 23 | $19,105 | $4,850 | $315,114 | $64,162 |
| Year 24 | $20,384 | $3,570 | $318,685 | $43,778 |
| Year 25 | $21,749 | $2,205 | $320,890 | $22,029 |
| Year 26 | $22,029 | $749 | $321,639 | $0 |
For decades, financial planners and savvy borrowers have relied on the Bret Whissel amortization calculator format. Unlike modern bank websites that obscure formulas or push refinancing ads, a true Bret Whissel schedule presents transparent, mathematical amortization schedules showing exactly how every single dollar of your payment is divided between principal and interest.
An ARM (Adjustable Rate Mortgage)—such as a 5/1 ARM or 7/1 ARM—starts with a fixed introductory interest rate for the first 5 or 7 years. Once that period ends, the loan recalculates based on market interest rates.
Our calculator allows you to model both the initial fixed period and the subsequent adjusted rate so you can prepare for future monthly payment shocks.
Mortgages follow an installment amortization schedule where the monthly payment remains constant while the proportion of principal grows each month. In contrast, credit card amortization is revolving: paying only the 2% minimum payment stretches a $5,000 balance across 20+ years and triples the total amount paid due to compounding interest. Use our dedicated Credit Card Payoff Calculator to eliminate revolving debt.