Calculate monthly loan payments, total interest, and amortization schedule for any loan.
A loan calculator computes monthly payments, total interest, and payoff schedules for personal loans, auto loans, student loans, and other installment debt. Based on loan amount, annual interest rate (APR), and term length, it calculates how much you'll pay monthly, total interest over the loan life, and provides an amortization schedule showing how each payment splits between principal and interest. Essential for comparing loan offers, understanding true borrowing costs, planning debt payoff strategies, and making informed borrowing decisions before signing loan agreements.
Avoid expensive loans by comparing offers from multiple lenders and seeing total interest costs, not just monthly payments. Understand how loan term affects total costs—shorter terms mean higher monthly payments but dramatically lower total interest. Calculate the impact of extra payments toward principal to pay off loans faster and save thousands in interest. See exactly how much of each payment goes to interest versus reducing your balance, helping you understand why loans take so long to pay off initially. Credit counselors, loan officers, and financially savvy borrowers use this to make smart borrowing decisions.
Enter your loan amount (how much you want to borrow), annual interest rate (APR) from your lender, and loan term in years (3, 5, 7 years for personal/auto loans; 10-30 years for home loans). Results show monthly payment amount, total interest paid over the loan life, total amount repaid, and a detailed amortization schedule. Compare different scenarios by adjusting term length—see how a 5-year vs 7-year loan affects monthly payment and total interest. Use the extra payment calculator to see how paying $50-100 extra monthly can save thousands and shorten your loan by years.
Calculate your monthly mortgage payment including principal, interest, taxes, and insurance (PITI). Get accurate estimates for home loan affordability and compare different scenarios.
Calculate the maximum house price you can afford based on your income and expenses.
Calculate loan amortization schedule with monthly payments, principal, interest breakdown, and remaining balance for mortgages and loans.
Calculate EMI (Equated Monthly Installment) for home loans, personal loans, car loans with detailed amortization schedule and total interest.
Determine your break-even point in units or sales dollars — the point at which total revenue equals total costs. Essential for pricing strategy and profitability analysis.
Calculate future value of investments with compound interest, regular contributions, and various compounding frequencies for retirement and savings planning.
Common questions about loan calculator