Loan & Mortgage Calculator

What is a Loan Calculator?

A loan calculator computes the monthly payment required to repay a loan of a given amount over a specified term at a fixed interest rate, using the standard amortization formula. Each monthly payment covers both interest and principal — early payments are predominantly interest, while later payments pay down more principal. This process is called amortization. The total interest paid over the life of a loan can be surprisingly large: a $300,000 mortgage at 6% over 30 years costs about $347,000 in interest alone. This calculator helps you understand the true cost of borrowing before committing to a loan.

How to Use the Loan Calculator

1. Enter the loan amount (principal).

2. Enter the annual interest rate as a percentage.

3. Enter the loan term in years or months.

4. The monthly payment, total payment, and total interest are calculated instantly.

5. Review the amortization chart and yearly breakdown to see how principal and interest are distributed over time.

This loan calculator uses the standard amortization formula and runs entirely in your browser — no data is sent to any server. Provides monthly payment, total cost, total interest, and a full amortization breakdown. Useful for mortgages, personal loans, car loans, and student loans.

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