All calculators
Loan & Mortgage Calculator
Estimate monthly payments, total interest and overall cost for any fixed-rate loan.
Enter the loan amount, rate and term to see your payment breakdown.
Formula
M = P × r × (1+r)^n ÷ ((1+r)^n − 1), where r is the monthly rate (APR ÷ 12) and n the number of payments
How to calculate
- 1Convert the annual rate to a monthly rate: APR ÷ 12.
- 2Convert the term to months: years × 12.
- 3Apply the amortization formula above to get the monthly payment.
- 4Total cost = payment × months; total interest = total cost − principal.
How to use this calculator
- 1Enter the loan amount, annual rate and term.
- 2Add a down payment if you have one.
- 3See the monthly payment, total interest and total cost update live.
- 4Adjust the term to see how shorter terms save interest.
Examples
Mortgage example
$300,000 at 6.5% over 30 years → ≈ $1,896/month, ≈ $382,000 total interest over the life of the loan.
Car loan example
$25,000 at 8% over 5 years → ≈ $507/month, ≈ $5,400 total interest.
Common questions
You might also like
Related guides
Explore by category
Recommended Tools
No recommended tools yet — add affiliate picks from the Settings panel.
