Loan Payment Calculator
Calculate monthly payments, total interest, and amortization schedules
Enter your loan details to calculate payments
Mortgage Loans
15-year, 30-year fixed rate mortgages
Auto Loans
New and used car financing
Personal Loans
Unsecured personal financing
Student Loans
Education financing options
Business Loans
Commercial and small business loans
Home Mortgage
Car Loan
Personal Loan
Monthly Payment
Calculate exact monthly payment amounts
Total Interest
See total interest paid over the loan term
Amortization Schedule
Detailed payment breakdown by month and year
Multiple Scenarios
Compare different loan terms and rates
- Calculate mortgage payments for home buying
- Compare auto loan options from different lenders
- Plan personal loan payments for debt consolidation
- Estimate business loan costs for expansion
- Analyze refinancing opportunities
- Budget for student loan repayments
- Evaluate lease vs. buy decisions
- Plan early payoff strategies
Lower Your Payment
- • Extend the loan term
- • Make a larger down payment
- • Shop for better interest rates
Save on Interest
- • Choose shorter loan terms
- • Make extra principal payments
- • Consider bi-weekly payments
Understanding Loan Payments
Loan payments consist of principal (the amount borrowed) and interest (the cost of borrowing). Early payments go mostly toward interest, while later payments pay down more principal.
The monthly payment is calculated using the loan amount, interest rate, and term. This creates an amortization schedule showing exactly how much goes to principal vs. interest each month.
- • Loan Amount: Higher amounts = higher payments
- • Interest Rate: Lower rates = lower payments
- • Loan Term: Longer terms = lower monthly payments but more total interest
- • Payment Frequency: Bi-weekly payments can save thousands in interest
- • Down Payment: More down = lower loan amount and payments