Payment Calculator

Calculate your monthly payments, total interest, and amortization schedule for loans. Perfect for mortgages, auto loans, and personal loans.

Loan Parameters

$
%
0%7.5%15%
years
11530
$

Monthly Payment

$0

Total Interest

$0

Total Payment

$0

Payoff Date

Payment Breakdown

Principal vs Interest

Amortization Schedule (First 12 Months)

MonthDatePaymentPrincipalInterestBalance

Key Insights

  • 1

    Your monthly payment is $0 - paying an extra $100 each month will save you $0 in interest.

  • 2

    Interest vs Principal: In the first year, you'll pay$0 in interest vs only$0 in principal.

  • 3

    Payoff impact: With extra payments of $100/month, you'll pay off your loan 15 years early, saving you$0 in interest.

Need a quick way to calculate your loan payments, total interest, and loan payoff schedule?

Our Payment Calculator is a robust resource to help you budget with certainty. Whether you are applying for, a mortgage, auto loan, personal loan or a business loan, you can explore the information you care about: how monthly payments break down, how much total interest you will pay, and when you will be out of debt for good.

Payment Calculator

You will only need to input some basic loan information it will take only a few moments: loan amount, interest rate, loan term, and starting date, then voila, you have a detailed amortization schedule of all payments over the life of your loan. You will be able to see how much of your monthly payment goes to interest vs. principal, allowing you to make informed decisions to improve your finances.

Why Use Our Payment Calculator?

Instant Results: It takes seconds provide descriptive monthly payment information.
Full Amount Overview: View total interest, total payment amounts and payoff date.
Detailed Overview: Visual charts and tables that compare your monthly payment distribution among principal vs. interest.
Amortization Schedule: View every month of payments for the entire loan period.
Works for All Loan Type: Mortgage, auto loans, business loans, student loans, etc.
Financial Planning Made Easy: Change the terms of your loan to come up with a payment plan that works for your budget.

How to Use the Payment Calculator

Our Payment Calculator is easy to use:

1.
Enter Your Loan Amount- The total borrowed amount you want to calculate.
2.
Set the Interest Rate - Enter the annual interest rate provided by your lender.
3.
Choose Loan Term - Enter the number of months or years that you intend to pay the loan.
4.
Choose Start Date - You can see exactly when your loan will be paid off.
5.
Get Instant Results - The calculator will provide you with your monthly payment amount, total interest, and payoff date all in seconds.

Our calculator provides instant updates, you can adjust values and compare loan options, and ultimately find the best payment plan so you can make informed financial decisions.

Payment Calculator Advantages:

Save Time and Effort - No manual math or complicated calculations.
Compare Loan Alternatives - Fast and see how changes to the terms of a loan impact your budget.
Excellent for Budgeting - You know future commitments before you sign a loan.
Transparency - You know exactly how much interest you pay over time.
Smart Financial Planning - Decide how, and if you want to pay extra each month to reduce your loan repayment term.

Our Payment Calculator will empower you to plan more ahead, and avoid surprises, so you feel more in control of your financial situation.

Example of Payment Calculator:

Let's say you needed to borrow $200,000 at 6% interest for 20 years:

Your Monthly Payment is: $1,432
Total Interest Paid is: $143,680
Your total cost of the loan is: $343,680
Your loan is paid off: September 2045

With this information you can then plan your loan repayment and how to save on interest.

Our Payment Calculator is more than just a basic math tool - it's a financial planning tool. Whether you're purchasing a new home, financing a new car, or taking a personal loan, it's important to know your monthly financial commitments. Take the first step toward managing your financial future by using this Payment Calculator today.

FAQs

A Payment Calculator is an online calculator that calculates your monthly payment, total interest and loan repayment date. By inputting the loan amount, term and interest rate, you can find out what your monthly repayments are.

Absolutely! Our Payment Calculator is designed to work with mortgages, personal loans, auto loans, business financing, and even student loans.

The Payment Calculator simply uses standard loan amortization formulas, so the information is highly accurate. That said, your actual loan agreement may have added fees, taxes, and/or insurance.

Yes! The calculator produces a complete amortization schedule, which tells you exactly how each monthly payment is divided.

Try out different loan terms using the Payment Calculator! Extending your loan term decreases your monthly payment, but if you want to pay a little extra toward principal, you can reduce the total interest.

Yes, simply enter your loan start date and the Payment Calculator will tell you an exact month and year when your loan will be completely paid off.