Loan & Mortgage Calculator
Calculate your estimated monthly payment, total interest, and overall cost for any loan or mortgage. Enter amount, rate, and term below.
About This Calculator
This calculator uses the standard amortization formula to determine a fixed monthly payment based on your principal, annual interest rate, and loan term. It works for mortgages, car loans, personal loans, or any fixed-rate installment debt. Results are estimates only and do not include property taxes, insurance, PMI, or other fees.
FAQ
How is the monthly payment calculated?
We use the standard amortization formula: P × r × (1+r)n / ((1+r)n − 1), where P is principal, r is monthly rate, n is total payments.
Can I include taxes or insurance?
This tool shows principal and interest only. Add estimated taxes or insurance to approximate total housing cost.
What's the difference between loan term and amortization?
Loan term is how long you have to repay; amortization is how payments are spread over that time. Most home loans are fully amortizing.