Calculators
Loan Calculator
Estimate monthly payment, total cost, and interest for a fixed-payment loan.
360 monthly payments. Principal and interest only; taxes, fees, insurance, and rate changes are not included.
Total paid
568,861.22
Total interest
318,861.22
About This Tool
Estimate the fixed monthly payment for an amortizing loan using the loan amount, annual interest rate, and repayment term. The result shows the monthly principal-and-interest payment, total paid, and total interest.
How To Use It
- Enter the loan amount.
- Enter the annual interest rate as a percentage.
- Enter the repayment term and choose years or months.
- Review the monthly payment, total paid, and total interest, or copy the summary.
Examples
30-year home-style loan
Enter 250,000, 6.5%, and 30 years to estimate a long fixed-payment loan with 360 monthly payments.
Short personal loan
Choose months for the term unit, then enter 36 to estimate a three-year personal loan without converting months to years first.
Useful Notes
Payment formula
The calculator uses the standard fixed-payment loan formula and switches to simple principal divided by months when the interest rate is zero.
Term handling
Terms are converted to whole monthly payments. Decimal-year or decimal-month entries are rounded to the nearest month before the payment is calculated.
Assumptions
Results estimate principal and interest only. Taxes, fees, insurance, late payments, extra payments, changing rates, and lender-specific rules are not included.
FAQ
Does this include taxes, insurance, or fees?
No. It estimates principal and interest only, so mortgage taxes, insurance, origination fees, servicing fees, and other costs need to be added separately.
Can I enter a term in months?
Yes. Choose Months as the term unit and enter the number of monthly payments directly.
What happens with a 0% interest loan?
The monthly payment is the loan amount divided by the number of months, and total interest is shown as zero.
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