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Calculate monthly payments, view amortization schedules, compare loans, and explore refinancing options. Perfect for mortgages, auto loans, personal loans, and student loans.
Support for mortgage, auto, personal, and student loans with preset values
View monthly breakdown of principal and interest with export options
See how extra payments can reduce your loan term and save interest
Compare multiple loan offers side by side
Calculate potential savings from refinancing your loan
Find out how much you need to pay monthly to pay off early
Visual breakdown of principal vs interest payments
Calculate maximum loan amount based on desired payment
A loan calculator helps you understand the true cost of borrowing money. By entering the loan amount, interest rate, and term, you can see your monthly payment and total interest over the life of the loan.
M = P * [r(1+r)^n] / [(1+r)^n - 1]Where M = Monthly Payment, P = Principal, r = Monthly Interest Rate, n = Number of Payments
Understanding your monthly loan payments before borrowing helps you make informed financial decisions and avoid overextending your budget. Our free Loan Calculator computes monthly payments, total interest paid, and the total amount you will repay over the life of any loan. It works for mortgages, auto loans, personal loans, student loans, and business financing. Enter your loan amount, interest rate, and term length to see a complete breakdown of your repayment schedule.
Home buyers use this calculator to estimate mortgage payments at different price points and interest rates. Car shoppers compare financing options across dealerships and lenders. Small business owners evaluate the cost of equipment financing or business loans. Students assess the long-term cost of education loans before committing. Anyone considering borrowing money benefits from seeing the true cost of a loan, including how much of each payment goes toward interest versus principal over the repayment period.
Compare different loan scenarios by adjusting the term length and interest rate. A longer term reduces your monthly payment but increases total interest paid, while a shorter term has higher monthly payments but saves significantly on interest. Use the amortization breakdown to understand how your payment splits between principal and interest over time. Early in the loan, most of your payment goes toward interest, shifting gradually toward principal as the balance decreases. This insight helps you evaluate whether making extra principal payments could save you money.