1. Enter the loan details
Type the loan amount, annual interest rate, and term in years or months.
Loan calculator
Loan Calculator
Calculate monthly payments, total interest, and the payoff schedule for any loan.
Local processingYour input never leaves your device.
Amortization schedule
| Year | Principal paid | Interest paid | Remaining balance |
|---|
What it does
A loan calculator estimates your monthly payment from the loan amount, annual interest rate, and term, then shows how much interest you will pay in total. Add an extra monthly payment to see how much faster you can pay off the loan and how much interest you save.
How to use
2. Add extra payments (optional)
Enter an extra amount to pay each month and see the payoff shorten.
3. Review the schedule
Check the yearly breakdown of principal vs interest paid.
Limitations
Results are estimates using standard amortization math. Actual loans may include fees, taxes, insurance, or variable rates not covered here. This is a calculation tool, not financial advice.
FAQ
How is the monthly payment calculated?
With the standard amortization formula: the loan amount times the monthly rate, adjusted for the number of payments. The same math banks use for fixed-rate loans.
Do extra payments really save that much?
Yes. Extra payments go directly against principal, which shrinks the balance that interest is charged on. Even a small extra amount shortens the loan noticeably.
Does this include taxes or insurance?
No. This covers principal and interest only. Real mortgage payments often add tax and insurance on top.