Free Loan & Mortgage Calculator
Instantly calculate your monthly payment, total interest and payoff date. Add extra payments to see how much you save, then export the full amortization schedule.
Loan details
Your results
Amortization schedule
| Month # | Payment | Principal | Interest | Remaining balance |
|---|
How to calculate loan payments
Most fixed-rate loans and mortgages use the standard amortization formula:
M = P × r × (1 + r)n / ((1 + r)n − 1)
- M is your monthly payment.
- P is the loan amount (principal).
- r is the monthly interest rate: annual rate ÷ 12 ÷ 100.
- n is the number of monthly payments.
Example
A $250,000 loan at 6.5% for 30 years has r = 0.005417 and n = 360, giving a payment of about $1,580 per month.
Key features
- Instant resultsEverything updates as you type.
- Extra paymentsSee interest saved and time cut from your loan.
- Full schedule + CSVMonth-by-month table you can open in Excel or Sheets.
- Multi-currencySwitch between dollar and euro display.
- 100% privateNo server, no sign-up, no data collected.
- Mobile friendlyFast, accessible and works offline once loaded.
Frequently asked questions
How does interest rate affect my monthly payment?
A higher rate raises both your monthly payment and the total interest you pay. On a long loan such as a 30-year mortgage, a single percentage point can add tens of thousands to the total cost.
What is an amortization schedule?
It is a month-by-month table showing how each payment is split between interest and principal, plus your remaining balance. Early payments are mostly interest; later payments are mostly principal.
How do extra monthly payments save money?
Extra payments reduce principal immediately, so less interest accrues each month and the loan ends sooner. Even a small extra amount can save years on a mortgage.
Is my financial data saved on any server?
No. All calculations run locally in your browser using JavaScript. Nothing you enter is uploaded, stored or shared.
Does this calculator include taxes, insurance or fees?
No. It calculates principal and interest only. Property tax, insurance, PMI and lender fees are extra and vary by lender. Results are estimates, not financial advice.