Loan calculator
Free loan calculator for any fixed-rate loan. Enter principal, APR, and term to see the monthly payment, total interest, payoff date, and a full amortization schedule — plus how much extra payments save you.
Amortization schedule
| Period | Interest | Principal | Balance |
|---|---|---|---|
| $19,401.27 | $3,353.18 | $296,646.82 | |
| Month 1 | $1,625.00 | $271.20 | $299,728.80 |
| Month 2 | $1,623.53 | $272.67 | $299,456.12 |
| Month 3 | $1,622.05 | $274.15 | $299,181.97 |
| Month 4 | $1,620.57 | $275.64 | $298,906.34 |
| Month 5 | $1,619.08 | $277.13 | $298,629.21 |
| Month 6 | $1,617.57 | $278.63 | $298,350.58 |
| Month 7 | $1,616.07 | $280.14 | $298,070.44 |
| Month 8 | $1,614.55 | $281.66 | $297,788.79 |
| Month 9 | $1,613.02 | $283.18 | $297,505.60 |
| Month 10 | $1,611.49 | $284.72 | $297,220.89 |
| Month 11 | $1,609.95 | $286.26 | $296,934.63 |
| Month 12 | $1,608.40 | $287.81 | $296,646.82 |
| $19,176.70 | $3,577.74 | $293,069.08 | |
| $18,937.10 | $3,817.35 | $289,251.73 | |
| $18,681.44 | $4,073.01 | $285,178.72 | |
| $18,408.66 | $4,345.79 | $280,832.93 | |
| $18,117.62 | $4,636.83 | $276,196.10 | |
| $17,807.08 | $4,947.37 | $271,248.73 | |
| $17,475.75 | $5,278.70 | $265,970.03 | |
| $17,122.22 | $5,632.23 | $260,337.81 | |
| $16,745.02 | $6,009.43 | $254,328.38 | |
| $16,342.56 | $6,411.89 | $247,916.49 | |
| $15,913.14 | $6,841.31 | $241,075.18 | |
| $15,454.97 | $7,299.48 | $233,775.70 | |
| $14,966.11 | $7,788.34 | $225,987.36 | |
| $14,444.51 | $8,309.94 | $217,677.42 | |
| $13,887.98 | $8,866.47 | $208,810.95 | |
| $13,294.17 | $9,460.28 | $199,350.68 | |
| $12,660.60 | $10,093.85 | $189,256.83 | |
| $11,984.60 | $10,769.85 | $178,486.98 | |
| $11,263.32 | $11,491.13 | $166,995.85 | |
| $10,493.74 | $12,260.71 | $154,735.14 | |
| $9,672.62 | $13,081.83 | $141,653.30 | |
| $8,796.50 | $13,957.95 | $127,695.36 | |
| $7,861.71 | $14,892.74 | $112,802.62 | |
| $6,864.32 | $15,890.13 | $96,912.49 | |
| $5,800.13 | $16,954.32 | $79,958.16 | |
| $4,664.66 | $18,089.79 | $61,868.38 | |
| $3,453.16 | $19,301.29 | $42,567.08 | |
| $2,160.51 | $20,593.94 | $21,973.15 | |
| $781.30 | $21,973.15 | $0.00 |
How to use loan calculator
- 01Pick a loan type
Choose mortgage, auto, student, or personal. Each preset loads realistic rates and term lengths so you're starting close to reality.
- 02Enter your numbers
Type the loan amount, the annual interest rate (APR), and the term in years. Defaults update live as you edit.
- 03Review the KPIs
See monthly payment, total interest, total paid, and payoff time. Accent color on the monthly payment so it's the first thing you read.
- 04Add an extra payment
Enter any extra amount you'd pay each month. The calculator shows how many months earlier you'd be debt-free and how much interest you'd save.
- 05Expand the amortization
Open any year in the schedule to see per-month principal, interest, and balance. Useful for tax prep and payoff planning.
Examples
Formula
Monthly payment = P × r / (1 − (1 + r)⁻ⁿ), where P is principal, r is the monthly interest rate (APR / 12), and n is the number of months. Extra payments are applied to principal each month until the balance reaches zero.
M = P · r / (1 − (1 + r)^−n)Frequently asked questions
How is the monthly loan payment calculated?
Using the standard amortization formula: principal × monthly rate ÷ (1 − (1 + monthly rate)^−months). The monthly rate is your APR divided by 12, and months is years × 12. Every payment covers the current interest first, then the rest reduces principal.
Does this loan calculator work for mortgages, car loans, and student loans?
Yes. The math is identical for any fixed-rate amortizing loan. The mortgage, auto, student, and personal sub-pages just load different default principals, rates, and terms. Override anything to match your own loan.
How much do extra payments save?
Enter your extra monthly amount and the calculator shows the exact interest saved and the new payoff date. Even $50–$100 extra per month on a 30-year mortgage typically shaves years off the term and saves tens of thousands in interest.
What's APR vs interest rate?
APR is the annualized cost of borrowing, including some fees. This calculator uses the APR as the nominal annual interest rate. If your lender quotes APR and a separate note rate, use APR for the most realistic monthly payment.
Do you store my loan data?
No. The calculator runs entirely in your browser. Nothing is sent to a server, so you can plug in real numbers without worrying about privacy.
Can I see a full amortization schedule?
Yes. After the KPIs, expand any year to see the per-month interest, principal, and remaining balance. Use Expand all to print or save the full schedule.
Last updated . Built by Tooligan.