Loan Calculator
Calculate the monthly payment, total interest, and payoff date on any fixed-rate loan.
| Month | Balance | Interest paid (this month) | Principal paid (this month) |
|---|---|---|---|
| 12 | $296,646.82 | $1,608.40 | $287.81 |
| 181 | $216,960.31 | $1,179.09 | $717.12 |
| 360 | $0.00 | $10.22 | $1,885.99 |
Estimates for education only — not financial advice. Lender quotes include fees this model omits.
How it works
- 1Enter the loan amount, annual interest rate, and term in years.
- 2Read the monthly payment and total interest instantly.
- 3See snapshot rows of the amortization schedule.
Use cases
- Compare loan offers before signing.
- Estimate a mortgage you can afford.
- See how an extra rate point affects total interest over 30 years.
Frequently asked questions
Does this support extra payments?
Not yet. The base calculator assumes the same monthly payment for the full term.
Why does my bank quote differ?
Most lenders add fees (origination, mortgage insurance, taxes). This calculator shows the pure principal + interest amortization.
Which interest model is used?
Standard fixed-rate amortization with monthly compounding — the most common consumer-loan model worldwide.
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