Loan Calculator
Enter your loan details to calculate your monthly payment, total cost, and see how each payment breaks down over time.
Loan Summary
Monthly Payment
$1,264.14
Total Payment
$455,088.98
Total Interest
$255,088.98
127.54% of principal
Payment Breakdown — First 12 Months
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $1,264.14 | $180.8 | $1,083.33 | $199,819.2 |
| 2 | $1,264.14 | $181.78 | $1,082.35 | $199,637.42 |
| 3 | $1,264.14 | $182.77 | $1,081.37 | $199,454.65 |
| 4 | $1,264.14 | $183.76 | $1,080.38 | $199,270.89 |
| 5 | $1,264.14 | $184.75 | $1,079.38 | $199,086.14 |
| 6 | $1,264.14 | $185.75 | $1,078.38 | $198,900.39 |
| 7 | $1,264.14 | $186.76 | $1,077.38 | $198,713.63 |
| 8 | $1,264.14 | $187.77 | $1,076.37 | $198,525.86 |
| 9 | $1,264.14 | $188.79 | $1,075.35 | $198,337.07 |
| 10 | $1,264.14 | $189.81 | $1,074.33 | $198,147.26 |
| 11 | $1,264.14 | $190.84 | $1,073.3 | $197,956.42 |
| 12 | $1,264.14 | $191.87 | $1,072.26 | $197,764.55 |
Showing first 12 of 360 months. Total remaining after month 12: $197,764.55
💰 Not Financial Advice
This calculator provides estimates for informational purposes only. Actual loan terms, payments, and interest may vary based on your lender, credit profile, fees, and other factors. Consult a qualified financial professional before making borrowing decisions.
How to use the loan calculator
This is a fixed-rate, fully-amortizing loan calculator — the same math banks use for mortgages, auto loans, and most personal or student loans. Every monthly payment is the same; what changes over time is how much goes to interest vs. principal. Early on you're mostly paying interest; late in the term you're mostly paying down the balance.
- Enter the loan amount — the principal you're borrowing, after any down payment.
- Enter the annual interest rate (APR) as a percent, not a decimal. Use 6.5 for a 6.5% rate, not 0.065.
- Enter the term — either in years (30, 15, 5) or in months. The toggle switches the unit; the underlying math always uses months internally.
- Read the monthly payment, total interest paid over the life of the loan, and the total cost (principal + interest).
- Open the amortization schedule to see the month-by-month breakdown of interest, principal, and remaining balance.
The formula
M = P × [r(1+r)^n] / [(1+r)^n − 1], where M is the monthly payment, P the principal, r the monthly rate (annual rate ÷ 12), and n the number of monthly payments.
What it does not include
Property tax, homeowners insurance, HOA dues, PMI, and points are not in this calculation. A real mortgage quote (PITI) will run higher than the payment shown here. Also not modeled: variable-rate loans, balloon payments, or any prepayment scheme. This tool is informational, not a loan offer.
Related tools — try a neighbour
Figure out the tip, split the bill, and round up — with preset and custom tip percentages.
Convert between 30 major currencies using live ECB reference rates, cached for fast repeat lookups.
See how your money grows over time with compound interest and optional monthly contributions.