Loan Calculator

Calculate payments & amortization

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Loan Details

Loan Amount ($)

Annual Interest Rate (%)

Loan Term (years)

Extra Payments

Extra Monthly Payment ($)

Monthly Payment

$1,995.91

Total Interest

$418,527

Total Cost

$718,527

Payoff

30 yrs

Cost Breakdown

Principal: $300,000 (41.8%)

Interest: $418,527 (58.2%)

Yearly Amortization

Year	Principal Paid	Interest Paid	Remaining Balance
1	$3,047	$20,903	$296,953
2	$3,268	$20,683	$293,685
3	$3,504	$20,447	$290,181
4	$3,757	$20,194	$286,424
5	$4,029	$19,922	$282,395
6	$4,320	$19,631	$278,075
7	$4,632	$19,318	$273,442
8	$4,967	$18,984	$268,475
9	$5,326	$18,625	$263,149
10	$5,711	$18,239	$257,437
11	$6,124	$17,827	$251,313
12	$6,567	$17,384	$244,746
13	$7,042	$16,909	$237,704
14	$7,551	$16,400	$230,153
15	$8,097	$15,854	$222,057
16	$8,682	$15,269	$213,375
17	$9,310	$14,641	$204,065
18	$9,983	$13,968	$194,082
19	$10,704	$13,247	$183,378
20	$11,478	$12,473	$171,900
21	$12,308	$11,643	$159,592
22	$13,198	$10,753	$146,395
23	$14,152	$9,799	$132,243
24	$15,175	$8,776	$117,069
25	$16,272	$7,679	$100,797
26	$17,448	$6,503	$83,349
27	$18,709	$5,242	$64,640
28	$20,062	$3,889	$44,579
29	$21,512	$2,439	$23,067
30	$23,067	$884	$0

Balance Over Time

$296,953

$293,685

$290,181

$286,424

$282,395

$278,075

$273,442

$268,475

$263,149

$257,437

$251,313

$244,746

$237,704

$230,153

$222,057

$213,375

$204,065

$194,082

$183,378

$171,900

$159,592

$146,395

$132,243

$117,069

$100,797

$83,349

$64,640

$44,579

$23,067

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Full guide

How to Calculate Loan Payments and Interest

Learn the fixed-rate loan payment formula, amortization, how extra payments cut interest, and how to compare loan terms with a free online calculator.

Read the guide

About Loan Calculator

A comprehensive loan calculator that computes monthly payments, total interest paid, and full amortization schedules for any fixed-rate loan. Works for personal loans, auto loans, student loans, and home mortgages. Enter your loan amount, interest rate, and term to instantly see your payment breakdown. Compare different loan terms (15 vs. 30 years) or interest rates side by side. Includes extra payment calculator to see how additional monthly payments shorten your loan and save interest. 100% client-side calculations.

Loan Calculator Features

Monthly payment
Amortization schedule
Extra payments
Loan comparison
Total interest
Payoff timeline
Multiple loan types

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