Loan Calculator
Monthly payment, total interest, total cost for any fixed-rate loan
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Monthly payment
Total interest
Total paid
About the Loan Calculator
This calculator uses the standard amortization formula to determine the fixed monthly payment for a loan: 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 number of payments. It works for mortgages, auto loans, student loans, and any other fixed-rate amortizing loan.
All calculations happen instantly in your browser. The figures are estimates — actual loan offers may include origination fees, taxes, insurance, or PMI that aren't part of the base payment.
Frequently asked questions
Does this include taxes and insurance?
No — this calculates principal and interest only (P&I). Mortgage payments often include property taxes, insurance, and PMI escrowed monthly; add those separately for a total housing payment.
What if my rate is 0%?
A 0% rate is handled correctly — the monthly payment is simply principal divided by number of months, and total interest is zero.