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Loan Calculator

Calculate your monthly payment, total interest, and view a full year-by-year amortization schedule for any fixed-rate loan.

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Loan Details
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Monthly Payment
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Total Payment
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Total Interest
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What is a Loan Calculator?

A loan calculator estimates monthly payment, total interest paid, and total cost for a fixed-rate loan. Enter the loan amount, annual interest rate, and term to see the full repayment breakdown and amortization schedule.

How to Use Loan Calculator

  1. Enter the loan amount (principal).
  2. Enter the annual interest rate (%).
  3. Enter the loan term in years.
  4. See monthly payment, total interest, and total cost. Browse the amortization schedule.

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Understand Loan / Mortgage Calculator ▾
Example
Input Loan: $200,000 at 6.5% for 30 years
Output Monthly payment: $1,264 · Total interest: $255,088 · Total cost: $455,088
Common Use Cases
  • Compare monthly payments for different loan amounts, rates, and repayment terms.
  • Estimate the real total cost of a mortgage, auto loan, or personal loan before signing.
  • Understand how amortization shifts each payment from interest-heavy to principal-heavy over time.
Understanding Amortization

Early payments are mostly interest; later payments are mostly principal. Formula: M = P[r(1+r)^n]/[(1+r)^n∀]. Paying extra principal in early months saves significant total interest. Refinancing at a lower rate reduces both monthly payment and total cost.

Why Use This Tool
  • Quickly compare loan options without a spreadsheet.
  • Understand total cost of a loan before signing.
  • See how extra payments reduce total interest over time.
Frequently Asked Questions
Does it include taxes, insurance, and PMI?

This calculator computes principal and interest (P&I) only. Add your own estimates for property taxes and insurance.

Can I calculate a 15-year vs 30-year mortgage?

Yes —change the term to any number of years to compare options side by side.

Can I use this for car loans, mortgages, and personal loans?

Yes. The calculator works for any fixed-rate installment loan as long as you know the principal, annual interest rate, and repayment term.

Does the amortization schedule update automatically?

Yes. As soon as you change the loan amount, rate, or term, the monthly payment and amortization breakdown refresh instantly in your browser.