Loan Calculator
Calculate loan payments, interest costs, and amortization schedules with our free online loan calculator. Plan your mortgage, auto, or personal loans with precision. Compare different loan options, see how extra payments can save you money and time, and visualize your payment breakdown between principal and interest. Make informed financial decisions with accurate, easy-to-understand results.
Input
Results
Monthly Payment
$536.82
Total Payment
$193,255.78
Total Interest
$93,255.78
Loan Term
30 years
Payment Breakdown
How to Use the Loan Calculator
Enter your loan details including the loan amount, interest rate, and term. Then click "Calculate" to see your monthly payment, total payment, and total interest. You can also compare different loans or see how extra payments can save you money and time.
Features
- Basic Loan Calculator - Calculate monthly payments, total payments, and total interest for a loan.
- Loan Comparison - Compare two different loans side by side to see which one offers better terms.
- Extra Payment Calculator - See how making extra payments can reduce your loan term and save you money on interest.
- Amortization Schedule - View a detailed breakdown of payments over the life of the loan, showing how much goes to principal and interest.
Loan Calculation Formulas
Where P = payment, L = loan amount, c = monthly interest rate (annual rate / 12 / 100), n = number of payments (term in years * 12).
The total amount paid over the life of the loan, including both principal and interest.
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