Loan Calculator
Estimate monthly payments and total interest.
Enter loan amount, annual interest rate, and term in years.
Fixed-rate loans with equal monthly payments follow a standard amortization schedule. Enter the loan amount, annual interest rate, and term in years to see your estimated payment and how much interest you pay over the life of the loan.
Use this to compare offers or plan a budget. It does not include taxes, insurance, PMI, or origination fees—add those separately for a full housing payment.
Frequently Asked Questions
It uses the standard amortization formula: payment = P × r / (1 − (1 + r)^−n), where P is the loan amount, r the monthly interest rate and n the number of monthly payments.
Yes. Any fixed-rate loan with equal monthly payments works: mortgages, auto loans, student loans and personal loans.
No. Results cover principal and interest only. Add property tax, insurance or lender fees separately for a full monthly cost.
Use the annual percentage rate quoted by your lender—the nominal interest rate before extra fees unless your lender rolls fees into the rate.
Early payments are mostly interest on a large balance. Shorter terms raise the monthly payment but usually cut total interest sharply.