Loan / Mortgage Calculator
About Loan / Mortgage Calculator
Work out the monthly payment, total interest, and overall cost of a loan before you sign. Enter the loan amount, annual interest rate, and term in years, and the calculator applies the standard amortization formula to show what you will pay each month and how much of that is interest versus principal. Use it to compare mortgages, car loans, student loans, and personal loans, and to see how a shorter term or lower rate changes the total cost. Runs entirely in your browser.
How To Use
- Enter the values the calculator asks for — amounts, dates, ratios, speeds, or grades.
- The result updates instantly as you type, with the working shown where it helps.
- Copy the answer, or adjust the inputs to compare different scenarios.
Example
Input: Two numbers, a couple of dates, or a ratio you want to work out.
Output: The computed result, with the breakdown shown where it helps you check the working.
Who Uses Loan / Mortgage Calculator
- Students and professionals who want private calculators with clear workings.
- Anyone doing everyday math without apps or data collection.
- People who prefer private — files and text stay on your device and are never uploaded to a server.
Frequently Asked Questions
How is the monthly payment calculated?
The standard amortization formula spreads the principal plus interest evenly across the term. Monthly payment = P × [r(1+r)^n] ÷ [(1+r)^n − 1], where P is principal, r is the monthly rate, and n is the number of payments.
Does this work for mortgages and car loans?
Yes. Any fixed-rate installment loan — mortgage, auto, personal, or student — uses the same formula. Enter the amount, annual rate, and term and the calculator handles the rest.
How can I pay less interest?
Shorten the term, secure a lower interest rate, or make extra principal payments. Even small additional monthly payments can cut years off a mortgage and save thousands in interest.
Does it include taxes and insurance?
This calculator shows principal and interest only. For a full mortgage payment including property tax and insurance (PITI), add those estimates to the monthly result.