Loan Calculator

$
$
%
years
-
Monthly Payment
-
Total Interest
-
Total Payment
Principal
Interest
# Payment Principal Interest Balance

How to Use

1

Enter loan amount, down payment, and interest rate

2

Set the loan term in years

3

View monthly payment and amortization schedule

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How to Use Loan Calculator

  1. 1
    Enter the loan amount
    Type the total amount you are borrowing.
  2. 2
    Set the interest rate
    Enter the annual interest rate as a percentage (e.g. 5 for 5%).
  3. 3
    Enter the loan term
    Specify the loan duration in years or months.
  4. 4
    View the results
    See the monthly payment, total interest paid, and full amortization schedule broken down month by month.

Features

Use Cases

Home mortgage planning

Estimate monthly mortgage payments and total interest cost before applying for a home loan.

Car loan comparison

Compare monthly payments and total cost for different car loan amounts, rates, and terms.

Personal loan budgeting

Understand the true cost of a personal loan including all interest before accepting a lender's offer.

Business loan evaluation

Evaluate the monthly cash flow impact of a business loan to ensure repayments are sustainable.

Student loan repayment planning

Calculate how long it will take to repay student loans and how much total interest will be paid.

Frequently Asked Questions

Q: What loan formula does the tool use?

The standard fixed-rate loan formula: M = P[r(1+r)^n]/[(1+r)^n-1], where P is principal, r is monthly rate, and n is number of payments.

Q: Does it account for variable interest rates?

No. This calculator is for fixed-rate loans. Variable rate loans require more complex modeling.

Q: Is my financial data sent to a server?

No. All calculations are done in your browser. Your financial information stays private.

Q: Can I use it for mortgages?

Yes. Enter the home loan amount, annual interest rate, and term (e.g. 30 years) to see monthly payments.

Q: Does the calculator include fees or insurance?

No. This calculator computes principal and interest only. Add any additional fees (origination, insurance) manually.

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