Loan Calculator

Calculate your monthly loan payments, total interest, and amortization schedule. Perfect for mortgage, car loans, and personal loans.

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About Loan Calculator

Our Loan Calculator helps you understand the full cost of a loan by calculating your monthly payments, total interest paid, and providing a detailed amortization schedule. This tool is perfect for mortgages, car loans, personal loans, and any other type of installment loan. Understanding your loan details helps you make informed financial decisions and plan your budget effectively.

Common Loan Examples

Try these common loan calculations:

  • $300,000 Mortgage
  • $25,000 Car Loan
  • $10,000 Personal Loan
  • $15,000 Student Loan

Frequently Asked Questions

The monthly payment is calculated using the standard loan payment formula: P = [r * PV] / [1 - (1 + r)^-n] Where P is the monthly payment, r is the monthly interest rate (annual rate divided by 12), PV is the loan amount (present value), and n is the total number of payments (loan term in years multiplied by 12).

An amortization schedule is a table that shows the breakdown of each loan payment into principal and interest components, along with the remaining loan balance after each payment. It helps you understand how much of each payment goes toward paying down the loan principal versus paying interest charges.

In the early stages of a loan, the outstanding balance is highest, so the interest portion of each payment is larger. As you make payments and reduce the principal balance, the interest charged on the remaining balance decreases, and more of each payment goes toward reducing the principal. This is why amortization schedules show a higher interest-to-principal ratio at the beginning of the loan term.

This calculator assumes monthly payments, which is the most common payment frequency for loans like mortgages, car loans, and personal loans. For loans with different payment frequencies (bi-weekly, quarterly, etc.), the calculations would need to be adjusted accordingly.

No, we do not store any of the data you enter into the Loan Calculator. All calculations are performed locally in your browser, ensuring your financial information remains private and secure.