Loan Calculator | Monthly Payment & Amortization Schedule
Calculate monthly loan payments, total interest, and full amortization schedule
Compare loan scenarios, run refinance break-even analysis, and see how...
When Should You Use This Calculator?
- Calculating monthly loan payments quickly in Simple mode
- Analyzing refinancing opportunities and breakeven timing in Refinance mode
- Comparing multiple loans side-by-side with term and rate differences
- Planning long-term payoff strategy with extra-payment scenarios
- Reviewing amortization schedule and payment breakdown details
Key Features:
- Compare multiple scenarios side-by-side
- Three modes: Simple, Refinance, and Comparison
- Refinance breakeven analysis and multi-loan comparisons
- Detailed amortization schedules and payoff acceleration with extra payments
Frequently Asked Questions
How is my monthly loan payment calculated?
In Simple mode we use the standard amortization formula: M = P × [r(1+r)^n] / [(1+r)^n – 1], where P is principal, r is monthly rate, and n is total months. This gives a fixed payment for fully amortizing loans.
What is an amortization schedule?
An amortization schedule shows every payment over your loan's term, breaking down how much goes to principal vs. interest each month. Early payments are mostly interest; later payments are mostly principal.
Should I refinance my loan?
Refinancing can help when rate or term improvements outweigh closing costs. Use Refinance mode to compare your current loan against a new offer and review breakeven timing before deciding.
How does extra payment affect my loan?
Extra payments go directly to principal, reducing your interest costs and shortening your loan term. Even small additional payments can save thousands over the life of a loan. Use our calculator to see the impact.
Can I export my Loan Calculator calculations?
Yes. In guest mode you can export your calculations to JSON. Signing in adds PDF and CSV export. Click the export button to download your results — useful for record-keeping, sharing, or importing into other tools.
Does this calculator save my history?
Yes. Your calculation history is saved automatically. As a guest you can keep up to 50 calculations per workspace on your device. Sign in for free to keep up to 100 per workspace and access them from any device.
Is this calculator free to use?
Yes. The Loan Calculator is free to use with no sign-up required. A free account adds more calculation history, multiple workspaces, and access to your saved data from any device.
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