Loan Calculator

Calculate loan payments, total interest, and view repayment schedule
Loan Parameters
Enter loan information

Start Calculating Your Loan

Enter loan parameters on the left, then click "Calculate Loan" to see results

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How Loan Calculations Work

1

Loan Amount

We calculate the principal by subtracting your down payment from the total loan amount.

2

Monthly Payment

Using the principal, interest rate, and term, we calculate your fixed monthly payment.

3

Amortization

Each payment is split between principal and interest, with early payments going more toward interest.

What factors affect your loan payment?

  • Loan Amount: The total amount you're borrowing after down payment
  • Interest Rate: Higher rates mean higher monthly payments and more total interest
  • Loan Term: Longer terms have lower monthly payments but more total interest
  • Down Payment: Larger down payments reduce your loan amount and monthly payment
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