Loan Calculator

Calculate monthly payments, total interest, and total cost for any loan.

Loan Amount ($)

Interest Rate (%)

Loan Term (years)

How to Use the Loan Calculator

Enter your values in the fields above and click Calculate. Results appear instantly below the tool. Use the Clear button to reset all fields and start over.

About This Tool

Calculate monthly payments, total interest, and total cost for any loan. All calculations happen in your browser — your data is never sent to any server. Bookmark this page for quick access anytime you need it.

❓ Frequently Asked Questions

How is the monthly payment calculated?

Using the standard amortization formula that accounts for principal, interest rate, and loan term to determine equal monthly payments.

Should I choose a shorter or longer loan term?

Shorter terms have higher monthly payments but save significantly on total interest. A 15-year mortgage can save tens of thousands compared to 30 years.