Mortgage & Loan Calculator – Monthly Payment & Interest

Calculate your monthly loan payment, total interest and amortization breakdown for mortgages, auto loans or personal loans.

Loan / Mortgage amount

Annual interest rate (%)

Loan term (years)

Currency

Monthly payment

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Total payment–

Total interest paid–

Payment schedule–

Financial estimate only, not certified financial or tax advice.

How mortgage & loan payments are calculated

Monthly loan payments use standard amortization formulas where each payment covers both the interest accrued and a portion of the principal. In the early years, the majority of each payment goes toward interest, gradually shifting toward principal repayment as the balance decreases.

Tips to save on loan interest

Making one extra monthly payment per year can shave years off a 30-year mortgage.
Refinancing to a lower rate or shorter loan term can significantly reduce total lifetime interest.
Ensure there are no prepayment penalties if you plan to pay off your balance early.

Frequently asked questions

What is the difference between fixed and variable rate loans?

A fixed-rate loan maintains the exact same interest rate throughout its term, ensuring predictable monthly payments. Variable rate loans fluctuate based on benchmark market rates.

Does this include property taxes or home insurance?

No, this calculation covers principal and interest. Actual monthly housing expenses usually include local property taxes, homeowner insurance, and HOA fees.

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