Free Loan Calculator
Calculate monthly payments, total interest, and view an amortization summary.
Monthly Payment
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Total Payment
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Total Interest
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Principal: $0
Interest: $0
Amortization Summary (Yearly)
| Year | Principal | Interest | Balance |
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Frequently Asked Questions
How is the monthly payment calculated? +
It uses the standard amortization formula: M = P[r(1+r)^n]/[(1+r)^n-1], where P is the loan amount, r is the monthly interest rate, and n is the total number of months.
What is an amortization schedule? +
It shows how each payment is split between principal and interest over the life of the loan. Early payments go mostly toward interest.
Can I use this for mortgages? +
Yes. This works for any fixed-rate loan including mortgages, auto loans, personal loans, and student loans.
Is my data private? +
Yes. All calculations happen in your browser. Nothing is sent to any server.