Free online tool
Loan & mortgage calculator
Find the monthly payment for a loan or mortgage, the total interest, and how the balance goes down year by year.
Works in your browserNothing is sent anywhereNo sign-upFree
Term in
Monthly payment–
Total paid–
Total interest–
| Year | Paid off | Interest | Left to pay |
|---|
For a fixed-rate loan with equal monthly payments. Real loans can add fees, insurance or taxes. Not financial advice; ask your bank for an exact offer.
Questions
Good to know
How is the monthly payment worked out?
With the standard formula for equal payments (an annuity): each month pays the interest first and the rest pays off the loan.
Why is the interest so high at the start?
Interest is charged on what you still owe, which is highest at the start. Paying extra early saves the most.
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