Free Loan & Mortgage Calculator
Calculate your monthly loan or mortgage payments based on principal, interest rate, and loan term. View a full amortization schedule showing how your balance decreases over time.
Plan Your Finances with Confidence
Before taking on any loan, you need to know exactly what your monthly payment will be and how much total interest you will pay. This calculator gives you both numbers instantly, plus a detailed amortization schedule so you can understand how your loan balance decreases over time.
Frequently Asked Questions
The calculator uses the standard amortization formula that accounts for the loan amount, annual interest rate, and loan term in months. It gives you the exact fixed monthly payment that will pay off the loan in full by the end of the term.
Yes. The tool displays a month-by-month breakdown showing how much of each payment goes toward principal versus interest, along with the remaining balance after each payment.
Absolutely. The same formula applies to mortgages, auto loans, personal loans, and any fixed-rate installment loan. Enter your specifics and get accurate payment calculations instantly.