Loan Calculator

Monthly mortgage or loan payment and total interest.

Loan amount

Interest rate (annual)

Term

yrs

Monthly payment

15,921.80

Total interest

2,731,848.58

Total paid

5,731,848.58

■ Principal 52%■ Interest 48%

Yearly amortization schedule

Year	Principal	Interest	Balance
1	45,065	145,997	2,954,935
2	47,323	143,738	2,907,612
3	49,695	141,367	2,857,917
4	52,185	138,876	2,805,732
5	54,801	136,261	2,750,931
6	57,547	133,515	2,693,384
7	60,431	130,631	2,632,953
8	63,460	127,602	2,569,494
9	66,640	124,422	2,502,854
10	69,980	121,082	2,432,874
11	73,487	117,575	2,359,388
12	77,169	113,892	2,282,218
13	81,037	110,025	2,201,182
14	85,098	105,964	2,116,084
15	89,363	101,699	2,026,721
16	93,841	97,220	1,932,880
17	98,544	92,518	1,834,336
18	103,483	87,579	1,730,853
19	108,669	82,393	1,622,184
20	114,115	76,947	1,508,069
21	119,834	71,228	1,388,235
22	125,839	65,222	1,262,396
23	132,146	58,916	1,130,250
24	138,768	52,293	991,482
25	145,723	45,339	845,759
26	153,026	38,036	692,733
27	160,695	30,367	532,039
28	168,748	22,314	363,291
29	177,205	13,857	186,086
30	186,086	4,976	0

The result is an estimate and excludes fees and insurance.

How it works

Enter the loan amount, the annual interest rate and the term in years.
The calculator shows the monthly payment, the interest paid and the total.
The yearly schedule shows how much principal and interest you pay each year.

FAQ

›How is the monthly payment calculated?

With a fixed annuity the payment is the same each month. Early on it's mostly interest; the principal share grows over time. Formula: P = L × i / (1 − (1 + i)^−n), where i is the monthly rate and n the number of payments.

›Are fees and insurance included?

No. The calculator only includes interest. The APR quoted by your lender reflects the full cost better.

›What if the rate changes later?

Your payment is recalculated from the remaining balance. Find the balance in the yearly schedule and enter it as a new loan with the remaining term.