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Loan & Mortgage Calculator

Estimate your monthly payment, compare principal versus total interest, and see how extra monthly payments shorten your loan term.

Free to useNo sign-up requiredWorks in your browserPrivacy focused

Loan & Mortgage Calculator Workspace

How to use

  1. 1

    Step 1

    Enter your Loan Amount, Annual Interest Rate (%), and Loan Term in years (or click a quick term preset like 15 yr or 30 yr).

  2. 2

    Step 2

    Optionally enter an Extra Monthly Payment to see how much interest and time you can save.

  3. 3

    Step 3

    Review your Monthly Payment and visual Principal vs. Interest breakdown, then switch between the Yearly Summary and Monthly Schedule.

Key features

  • Calculates exact monthly principal and interest payments for home mortgages, auto loans, and personal loans
  • Extra Monthly Payment simulator shows total interest saved and how many months earlier your loan is paid off
  • Visual Principal vs. Interest bar shows the true lifetime cost of borrowing at a glance
  • Full amortization table with one-click toggle between Yearly Summary and month-by-month breakdown plus CSV export

Supported formats

CSVTXT

File limits & notes

Calculates fixed-rate principal and interest payments. Homeowner insurance, property taxes, and HOA fees vary by location and are not included in the base principal-and-interest figure.

Frequently asked questions

View all FAQs
How does adding an extra monthly payment reduce my loan cost?

Every extra dollar you pay each month goes directly toward reducing your loan principal balance. Because each month's interest is calculated on the remaining balance, lowering the principal early reduces interest charges for the rest of the loan.

Does this calculator work for auto loans and personal loans as well as mortgages?

Yes. Fixed-rate auto loans, student loans, personal loans, and mortgages all use the same monthly amortization formula—just set the term to 3, 5, 10, 15, or 30 years.

Can I download the payment schedule for my records?

Yes. Click Download CSV Schedule to save the complete month-by-month payment, interest, principal, and remaining balance table as a spreadsheet file.

Practical Example: Comparing a 30-Year Mortgage With an Extra Monthly Payment

Sample Input
A $320,000 home loan at 6.25% interest for 30 years with an optional $150 extra payment each month.
Result
Shows a $1,970.30 base monthly payment and reveals that adding $150/month saves over $58,000 in interest and pays off the loan 57 months early.