Loan Calculator
Work out the monthly payment, total interest and full amortization schedule for any loan or mortgage.
- Monthly payment
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- Total interest
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- Total paid
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- Payoff time
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Amortization schedule
| Year | Payments | Principal | Interest | Remaining balance |
|---|
How it works
Enter the loan amount, the annual interest rate and the term, and this loan and mortgage calculator works out the monthly payment instantly using the standard amortization formula M = P · r / (1 − (1 + r)−n), where r is the monthly interest rate and n the number of payments. From there it builds a full month-by-month amortization schedule, so you can see exactly how much of each payment goes to principal versus interest and what the remaining balance is at the end of every year.
Add an extra monthly payment to see how many years and how much interest you would save by overpaying. Copy the summary or download the complete schedule as a CSV for a spreadsheet. Every calculation runs in your browser with JavaScript — no account, no ads, and none of your financial figures are ever uploaded or stored.
Frequently asked questions
How much will my monthly loan payment be?
Enter the loan amount, the annual interest rate and the term, and the calculator shows the monthly payment straight away. It uses the standard amortization formula M = P · r / (1 − (1 + r)^−n), where P is the amount borrowed, r is the annual rate divided by 12 and n is the number of monthly payments. A $300,000 loan at 6% over 30 years works out to $1,798.65 a month.
How much interest will I pay on a loan?
Total interest is the sum of the interest portion of every payment, and it is shown next to the monthly payment along with the total amount repaid. The amortization schedule breaks it down period by period, so you can see how much of each payment goes to interest versus principal and how that shifts over the life of the loan. Switch the schedule between yearly and monthly detail, or download it as CSV.
Can this mortgage calculator show the effect of extra payments?
Yes. Type an amount in the "extra payment per month" field and the schedule is rebuilt with the overpayment applied to the principal each month. The calculator then tells you how much interest you save and how much sooner the loan is cleared — on a 30-year $300,000 mortgage at 6%, an extra $200 a month saves over $91,000 in interest and pays it off nearly 7 years early.
Is my financial data sent anywhere?
No. The whole calculator is JavaScript running in your browser: the amounts you type, the results and the amortization schedule never leave your device, and nothing is stored or sent to a server. There are no ads, no lender referrals and no sign-up, so you can safely model real salaries, debts and mortgage offers.