Enter the loan details
Type the amount, the annual interest rate as a percentage, and the term in years.
Calculators
Loan and Mortgage Calculator
Free online loan and mortgage calculator
Enter the values
Local processingEnter the yearly rate, for example 6.5 for 6.5 percent. The monthly rate is derived automatically.
Result
The result will appear here after you run the tool.
Press Ctrl or Command and Enter to run the tool.
About this tool
About this tool
Loan and Mortgage Calculator uses the standard amortization formula for fixed-rate loans: payment equals principal times monthly rate times the compound factor, with the zero-rate case handled separately. It reports the scheduled payment, total paid, and total interest, then simulates an optional extra monthly payment to show the new payoff time and interest saved. Everything runs locally.
Plan a mortgage, car loan, or personal loan before you sign. Enter the loan amount, annual interest rate, and term, and the calculator returns the monthly payment, the total amount paid, and the total interest over the scheduled term. Add an optional extra monthly payment to see how much sooner the loan ends and how much interest it saves.
Built for daily work
- Compare monthly payments across loan amounts and terms.
- Estimate the total interest on a 30-year mortgage.
- See how an extra payment shortens a car loan.
- Check how a rate change affects the monthly cost.
How to use this tool
How to use this tool
Add an extra payment (optional)
If you plan to pay extra each month, enter the amount to compare payoff scenarios.
Read the summary
The monthly payment is shown with total paid and total interest, plus the extra-payment comparison when applicable.
Key features
Key features
Standard amortization formula
Payments use the classic fixed-rate formula, including a correct zero-interest case.
Extra payment comparison
See the new payoff time, total interest, and interest saved when you add a monthly extra payment.
Clear cost breakdown
Monthly payment, total paid, and total interest are separated so the true cost of the loan is visible.
Private planning
All calculations run in your browser; loan details never leave the page.
Practical use cases
Practical use cases
- Compare monthly payments across loan amounts and terms.
- Estimate the total interest on a 30-year mortgage.
- See how an extra payment shortens a car loan.
- Check how a rate change affects the monthly cost.
- Plan refinancing scenarios with current rates.
Private by default
For local tools, input is processed in your browser and is not sent to application analytics.
Data processing noticeTechnical details
Technical details
ProcessingLocal browser processing
FormulaStandard fixed-rate amortization
Term range1 to 50 years
Extra paymentOptional monthly amount with savings comparison
Limitations and important notes
Limitations and important notes
- The estimate assumes a fixed rate for the whole term.
- Taxes, insurance, fees, and variable rates are not modeled.
- The extra-payment simulation assumes the same extra amount every month.
Frequently asked questions
Frequently asked questions
The standard fixed-rate payment formula: P x r x (1+r)^n / ((1+r)^n - 1), where r is the monthly rate and n the number of months. Zero-rate loans divide principal by months.
No. Property taxes, homeowners insurance, PMI, and fees vary by location and lender and are not part of the calculation.
It simulates paying an extra fixed amount each month and reports the new payoff time and the interest saved compared with the scheduled plan.
No. This is an educational estimate. Real offers depend on your credit, the lender, and current market conditions.
Related guides and solutions
Related guides and solutions
How to calculate mortgage payments before talking to a lender
A practical guide to estimating mortgage payments with the [mortgage calculator](tool:mortgage-calculator): the inputs you need, how principal and interest are computed, and how to compare rate offers.
Learn moreRun a full mortgage analysis locally without uploading data
Mortgage math is personal. The [loan and mortgage calculator](tool:loan-mortgage-calculator) runs entirely in your browser, so your price, income, and rate assumptions never reach a server.
Learn moreEstimate your mortgage payment before the lender meeting
The [mortgage calculator](tool:mortgage-calculator) turns price, down payment, rate, and term into a monthly payment instantly, entirely in your browser.
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