Loan Calculator
One calculator for every loan - mortgage, auto, student, personal or business. Get your monthly payment, total interest, payoff date and a full amortization schedule, and see how extra payments save you money.
Your loan
Loan over time
Principal vs interest
Amortization schedule
| Year | Payment | Principal | Interest | Balance |
|---|
Compare two loan offers
Enter two offers and we'll show which one costs less overall.
Loan A
Loan B
How it works
Every loan here uses the same standard amortization formula - only the typical amounts and terms differ between a mortgage, a car loan, a student loan and so on.
M = P · r / (1 - (1 + r)-n)
Where M is the monthly payment, P the loan amount, r the monthly interest rate (APR ÷ 12), and n the number of months. Each month part of your payment covers interest and the rest reduces the balance - early on it's mostly interest, later mostly principal. An extra monthly payment goes straight to the balance, cutting both the time and the total interest.