Loan Calculator

How it works

How to calculate your loan payment

1. Enter the loan amount you're borrowing, or that's still outstanding.
2. Set the annual interest rate and how many years you'll take to repay it.
3. Click calculate to see your monthly payment, total interest, and the full amortization schedule.

Why it matters

How loan payments are calculated

Most installment loans — car loans, personal loans, mortgages — use an amortizing structure, where you pay the same amount every month, but the mix of principal and interest shifts over time. Early payments are mostly interest; later payments are mostly principal, even though the total payment stays flat.

Because the calculation happens entirely in your browser, your loan details are never uploaded to a server or stored anywhere.

Paying extra toward principal

Adding a little extra to your monthly payment goes straight toward the principal balance, which reduces the amount future interest is calculated on. Even small extra payments can shorten a loan term and cut total interest meaningfully — this calculator's schedule reflects any extra amount you enter.

Loan types

Works for Any Amortizing Loan

The same monthly-payment math applies whether you're financing a house, a car, or paying off a personal debt. Enter the amount, rate and term for any of these:

• Mortgage calculator use — estimate principal and interest on a home loan. Note this tool doesn't include property taxes, homeowner's insurance, or PMI, so treat the result as the principal-and-interest portion only.
• Auto loan calculator use — see the monthly payment and total interest on a car loan, and how a larger down payment or shorter term changes the numbers.
• Personal loan calculator use — work out fixed monthly payments on an unsecured personal loan or debt consolidation loan.
• Student loan calculator use — estimate payments on a fixed-rate student loan, and see how extra payments during repayment reduce total interest.

Frequently asked questions

FAQ

Is this loan calculator really free, with no sign-up?+

Yes. It runs entirely with JavaScript in your browser, so there is no account, no API key, and no limit on how many times you can use it.

Does my loan information get sent anywhere?+

No. The calculation happens locally on your device. Nothing is uploaded, stored, or logged.

How is the monthly payment calculated?+

It uses the standard amortizing loan formula, which spreads principal and interest across equal monthly payments based on your loan amount, interest rate, and term.

What is an amortization schedule?+

It's a year-by-year breakdown showing how much of each payment goes toward interest versus principal, and how your remaining balance shrinks over the life of the loan.

Does this include taxes, insurance, or fees?+

No. This calculates principal and interest only. Real-world loans, especially mortgages, often include extra costs like taxes, insurance, or origination fees that aren't reflected here.

Can I use this for a mortgage, auto loan, or student loan?+

Yes. The amortization math is the same for mortgages, auto loans, personal loans and student loans — just enter the loan amount, rate and term for that loan.

How much does an extra monthly payment actually save?+

Extra payments go straight toward principal, which reduces the balance future interest is calculated on. The savings depend on your rate, term and remaining balance — enter an amount in the Extra monthly payment field to see your exact totals.

Related tools

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• BMI Calculator — another quick, no-signup personal calculator.

Methodology

How This Calculator Works

Monthly payments are calculated with the standard amortizing loan formula based on principal, monthly interest rate and number of payments. Any extra payment you enter is applied straight to principal each month, and the year-by-year schedule is rebuilt from that adjusted balance — so total interest and payoff time always reflect the extra amount.

Last updated: August 28, 2026.