Loan Calculator
Find your monthly payment and see how much interest you'll pay over the life of a loan.
| Period | Payment | Principal | Interest | Balance |
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How it works
The monthly payment of a fixed-rate loan is M = P × r ÷ (1 − (1 + r)−n), where P is the amount, r the monthly rate (annual rate ÷ 12) and n the number of months. Early payments are mostly interest; the share of principal grows each month. Extra payments go straight to the principal, which shortens the loan and cuts the total interest.
Insurance, fees and taxes are not included, and real offers may use a different compounding convention — treat the result as an estimate.
FAQ
What's an amortization schedule?
A table showing, for each payment, how much goes to interest, how much repays the loan, and what's left to pay.