Loan Calculator
Calculate monthly loan payments, total interest and a 12-month amortization.
Enter loan amount, interest rate and term to see your monthly payment, total interest paid and how each of the first twelve payments splits between principal and interest.
Common use cases
- Estimate monthly payments before applying for a personal or auto loan
- Compare lenders by total interest paid over the life of the loan
- See how much of an early payment goes to principal vs interest
- Check the impact of a shorter or longer term on the monthly amount
Frequently asked questions
What formula is used?▾
M = P · r · (1+r)^n / ((1+r)^n − 1), where r is the monthly rate and n the number of months.
Does it include taxes or fees?▾
No — this is a pure principal & interest payment. Use the mortgage calculator for taxes, insurance and HOA.
Why does early interest dominate?▾
Each payment is split based on remaining balance × monthly rate, so early payments are mostly interest.