Loan Calculator
Free loan and mortgage calculator. Enter amount, interest rate and term to see your monthly payment, total interest and total cost. Calculations run in your browser.
Loan & mortgage calculator
Estimate your monthly loan payment and see the true cost of borrowing. Enter the loan amount, annual interest rate and term to get your monthly payment, total interest paid, and total repayment. Works for personal loans, auto loans and mortgages (principal and interest).
Frequently asked questions
How is the monthly payment calculated?
It uses the standard amortization formula: M = P·r·(1+r)ⁿ / ((1+r)ⁿ − 1), where P is the loan amount, r is the monthly interest rate, and n is the number of months.
Does this include taxes, insurance or fees?
No. It calculates principal and interest only. For a mortgage, add property tax, insurance and any fees separately for the full monthly cost.
What if the interest rate is 0%?
With 0% interest, the monthly payment is simply the loan amount divided by the number of months, and total interest is zero.