Loan Calculator

Calculate monthly payments for any loan or mortgage

Loan amount ($)

Annual interest rate (%)

Loan term (years)

About loan calculations

What is amortization?

Amortization is the process of paying off a loan through regular payments. Early payments are mostly interest; later payments are mostly principal.

How do I lower my monthly payment?

Extend the loan term, find a lower interest rate, or make a larger down payment. Extending the term reduces monthly payments but increases total interest paid.