Free Loan Calculator
Calculate your monthly payment, total interest, and view a full amortization schedule. Works for mortgages, car loans, and personal loans.
Monthly Payment
$536.82
Total Payment
$193,255.78
Total Interest
$93,255.78
Amortization Schedule
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $536.82 | $120.15 | $416.67 | $99,879.85 |
| 2 | $536.82 | $120.66 | $416.17 | $99,759.19 |
| 3 | $536.82 | $121.16 | $415.66 | $99,638.03 |
| 4 | $536.82 | $121.66 | $415.16 | $99,516.37 |
| 5 | $536.82 | $122.17 | $414.65 | $99,394.20 |
| 6 | $536.82 | $122.68 | $414.14 | $99,271.52 |
| 7 | $536.82 | $123.19 | $413.63 | $99,148.33 |
| 8 | $536.82 | $123.70 | $413.12 | $99,024.62 |
| 9 | $536.82 | $124.22 | $412.60 | $98,900.41 |
| 10 | $536.82 | $124.74 | $412.09 | $98,775.67 |
| 11 | $536.82 | $125.26 | $411.57 | $98,650.41 |
| 12 | $536.82 | $125.78 | $411.04 | $98,524.63 |
| 13 | $536.82 | $126.30 | $410.52 | $98,398.33 |
| 14 | $536.82 | $126.83 | $409.99 | $98,271.50 |
| 15 | $536.82 | $127.36 | $409.46 | $98,144.15 |
| 16 | $536.82 | $127.89 | $408.93 | $98,016.26 |
| 17 | $536.82 | $128.42 | $408.40 | $97,887.84 |
| 18 | $536.82 | $128.96 | $407.87 | $97,758.88 |
| 19 | $536.82 | $129.49 | $407.33 | $97,629.39 |
| 20 | $536.82 | $130.03 | $406.79 | $97,499.36 |
| 21 | $536.82 | $130.57 | $406.25 | $97,368.78 |
| 22 | $536.82 | $131.12 | $405.70 | $97,237.66 |
| 23 | $536.82 | $131.66 | $405.16 | $97,106.00 |
| 24 | $536.82 | $132.21 | $404.61 | $96,973.79 |
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Frequently asked questions
How is the monthly payment calculated?
We use the standard amortization formula: M = P[r(1+r)^n] / [(1+r)^n - 1], where P is the loan principal, r is the monthly interest rate (annual rate ÷ 12), and n is the number of monthly payments (years × 12).
What is an amortization schedule?
An amortization schedule shows each monthly payment broken down into how much goes toward principal (reducing your balance) versus interest (the lender's fee). Early payments are mostly interest; later payments are mostly principal.
Can I use this for a mortgage?
Yes. Enter your home loan amount, the annual interest rate your lender offered, and the loan term (typically 15 or 30 years). The calculator gives you the monthly payment and total interest you'll pay over the life of the loan.
Does it account for property taxes or insurance?
No. This calculator computes the pure principal-and-interest payment. Real mortgage payments often include escrow for property taxes and homeowners insurance (PITI), which your lender will add separately.
Is my data sent to any server?
No. All calculations run entirely in your browser. Nothing is sent to a server and nothing is stored.