Loan & Mortgage Calculator
Calculate monthly payments, total interest, and view an amortization summary.
How to Use Loan & Mortgage Calculator
Step 1
Enter the loan principal amount.
Step 2
Set the annual interest rate as a percentage.
Step 3
Choose the loan term in years or months.
Step 4
Click Calculate to see your monthly payment and amortization summary.
Features
Standard amortization formula for accurate results.
Toggle between years and months for loan term.
Shows monthly payment, total payment, and total interest.
Amortization summary with yearly breakdown.
Completely free with no sign-up required.
FAQ
The calculator uses the standard amortization formula: M = P * [r(1+r)^n] / [(1+r)^n - 1], where P is the principal, r is the monthly interest rate, and n is the total number of payments.
Amortization is the process of spreading a loan into a series of fixed payments over time. Each payment covers interest and a portion of the principal balance.
Yes. This calculator works for any fixed-rate loan including mortgages, auto loans, personal loans, and student loans.
Yes, the loan calculator is completely free and runs entirely in your browser. No data is sent to any server.