Use this loan calculator to estimate a monthly payment, borrowing amount, interest rate or loan term and review total interest in a complete amortization schedule.
It works as a monthly payment calculator and amortization calculator, so you can compare payment size, total interest and remaining balance over time.
It supports personal loans, car loans and mortgage-style borrowing, including down payments, balloon payments, different payment frequencies and annuity-due calculations.
Loan Calculator FAQ
How do I calculate a monthly loan payment?
Enter the loan amount, annual interest rate and loan term. The calculator uses an annuity repayment model by default and shows the periodic payment, total interest and total amount repaid.
What is an amortization schedule?
An amortization schedule shows every payment over the loan term and separates each payment into principal and interest while tracking the remaining balance.
How do down payments and balloon payments affect a loan?
A down payment reduces the amount financed. A balloon payment moves part of the repayment to the end of the term, which can lower regular payments but changes the repayment profile and total interest.
Can the calculator find the loan amount, rate or term?
Yes. Select the value you want to calculate, then provide the other loan details. The calculator can solve for payment, loan amount, interest rate or term.
