General tools
Loan and mortgage calculator
Find the monthly payment, total interest, and how the balance falls over time. Everything runs in your browser - nothing is uploaded.
Remaining balance by year
How it works
Enter how much you are borrowing, the annual interest rate, and the term in years, and the calculator works out the fixed monthly payment for a standard repayment loan - the same maths behind a mortgage, car loan, or personal loan. It also shows the total you will pay over the life of the loan and how much of that is interest, which is often the eye-opening number: over a long term, interest can rival or exceed the amount borrowed.
The amortization chart breaks the loan down year by year. Early on, most of each payment goes toward interest and the balance barely moves; as the years pass, more of every payment chips away at the principal and the balance falls faster. Seeing that curve makes it clear why overpaying early, or choosing a shorter term, saves so much. The figures use the standard amortizing-loan formula, everything runs in your browser, and nothing is sent to a server.
Example. Borrow 250,000 over 30 years at 5% and the monthly payment is about 1,342, with total interest of roughly 233,000 on top of the amount borrowed. Shorten the term to 15 years and the monthly payment rises to about 1,977, but total interest falls to around 106,000.
FAQ
How is a monthly loan payment calculated?
It uses the amortizing-loan formula: the payment is the principal times the monthly rate, divided by one minus (one plus the monthly rate) to the power of minus the number of months. The monthly rate is the annual rate divided by twelve. The result is a fixed payment that clears the loan exactly over the term.
What is loan amortization?
Amortization is the way a fixed payment is split between interest and principal over time. At the start the balance is high so most of the payment is interest; as the balance falls, the interest portion shrinks and more goes to principal. The chart shows this shift year by year.
How can I pay less interest overall?
A shorter term raises the monthly payment but cuts total interest sharply, because the balance is cleared faster. Overpaying when you can - especially in the early years, when interest dominates - has an outsized effect. Try different terms and rates here to compare.
Does this include taxes, insurance, or fees?
No. It calculates the principal-and-interest repayment only. A real mortgage may add property tax, insurance, and fees, and some loans have arrangement costs, so the actual amount leaving your account each month can be higher.