How to use the Loan Calculator
- Enter the amount you will borrow.
- Enter the annual interest rate and the term in years.
- Read the monthly payment and total interest.
The payment uses the standard amortization formula M = P·i / (1 − (1 + i)^−n), where i is the monthly rate and n the number of monthly payments. Taxes, insurance and fees are not included.
Shortening the term or lowering the rate even slightly can save tens of thousands in interest on a mortgage — try changing the numbers to compare.
Frequently asked questions
Is my information saved?
No. Calculations happen in your browser and nothing is stored or sent anywhere.
Does this include property tax or insurance?
No. It covers principal and interest only.
Works for car and personal loans?
Yes, for any fixed-rate loan with equal monthly payments.