Loan and Mortgage Calculator
See what a loan or mortgage costs each month and in total, and how much time and interest extra payments would save.
More settings
Enter the loan detailsThe monthly payment appears here.
| Total repaid | |
|---|---|
| Total interest | |
| Paid off in | |
| Interest saved by paying extra |
Works for any currency. Assumes a fixed rate with monthly payments and interest calculated monthly; fees, insurance and taxes are not included, so a lender’s figure may differ.
Runs in your browser. What you enter here is not sent to our server.
- Monthly payment and total interest
- See what overpaying saves
- Download the payment schedule
How to use the Loan and Mortgage Calculator
- Enter the amount borrowed, the yearly interest rate and the term in years.
- Read the monthly payment and total interest.
- Open More settings to add an extra monthly payment and see what it saves.
How the payment is worked out
For a fixed-rate repayment loan, the monthly payment is P × r ÷ (1 − (1 + r)−n), where P is the amount borrowed, r is the monthly rate (the yearly rate divided by 12) and n is the number of payments. Early payments are mostly interest; later ones are mostly repayment of the amount borrowed. That is why overpaying early in the term saves the most.
Questions about the Loan and Mortgage Calculator
Why does my lender quote a different figure?
Lenders may add fees or insurance, calculate interest daily, or quote an APR that includes charges. Treat this as an estimate and rely on the lender’s official illustration.
Does this work for interest-only loans?
No. It assumes each payment covers interest and repays part of the loan.