Calculate your monthly loan payments, total interest, and amortization schedule with our easy-to-use loan calculator.
Enter your loan details to see your monthly payment and total costs
Your estimated monthly payment
Follow these simple steps to calculate your loan payments
Input the total amount you plan to borrow. You can use the slider or type the value directly.
Enter the annual interest rate for your loan. This can be a fixed or variable rate.
Select how many years you'll take to repay the loan. Longer terms mean lower monthly payments but more interest.
View your monthly payment, total interest, and payoff date instantly.
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Our calculator provides accurate results with these powerful features
Get your loan calculations instantly with no delays or waiting.
All calculations happen locally in your browser. We never store your data.
See a complete breakdown of your payment including principal and interest.
Use our calculator on any device - desktop, tablet, or mobile.
See results update in real-time as you adjust loan parameters.
Download your calculation results for future reference.
Find answers to common questions about loans and our calculator
The monthly payment is calculated using the standard loan amortization formula: P = [r * PV] / [1 - (1 + r)^-n], where P is the monthly payment, r is the monthly interest rate, PV is the loan amount, and n is the total number of payments.
A fixed interest rate remains the same throughout the loan term, providing predictable payments. A variable interest rate can change over time based on market conditions, which means your payments could increase or decrease.
A shorter loan term means higher monthly payments but less total interest paid over the life of the loan. A longer term has lower monthly payments but you'll pay more in total interest. Consider your budget and financial goals when choosing a term.
Our calculator focuses on standard loan calculations. For loans with extra payments, you would need a more advanced amortization calculator that can account for additional payments and their impact on the loan term and total interest.
This calculator provides estimates based on principal and interest only. It does not include additional costs like origination fees, insurance, or taxes that may be part of your actual loan payment.
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