Estimate monthly payments, total interest, and total repayment for any loan. View the full amortization schedule.
Enter the loan amount, annual interest rate and term in years, then click Calculate Loan. The result shows your monthly payment, total interest and a full amortization schedule, so you can see how much of each payment goes to principal versus interest over time.
Use it to compare offers from different lenders, decide between a shorter term with higher payments and a longer term with more total interest, or check whether a lower rate is worth the extra fees.
Tip: add 0.5 to 1 percent to the advertised rate as a buffer for fees and rounding. Small rate differences compound heavily over long terms - a 1 percent gap on a 30-year loan can mean tens of thousands in interest.
Play with the term slider before talking to a lender: the difference between 20 and 30 years is often thousands in interest. Also calculate with a slightly higher rate to stress-test your budget, and remember property taxes or fees are usually added on top of the loan payment.
Your monthly loan payment is determined by three factors: the loan amount (principal), the interest rate, and the loan term. This calculator uses the standard amortization formula to provide accurate monthly payment estimates, total interest paid, and a full amortization schedule showing how each payment is split between principal and interest.
Using the standard amortization formula: M = P × [r(1+r)^n] / [(1+r)^n - 1], where P is principal, r is monthly interest rate, and n is total months.
It shows each monthly payment broken down into principal and interest portions, plus the remaining balance after each payment.
No. This calculator only estimates principal and interest. Actual loans may include origination fees, insurance, or other costs.
No. All calculations happen entirely in your browser. Nothing is sent to any server.