Loan & Mortgage Calculator
Monthly payment, total interest, and total cost for any fixed-rate loan. It runs entirely in your browser, so the file never leaves your computer.
What the monthly payment actually tells you
Enter the amount, the APR and the term and you get the monthly payment, the total interest and the total of all payments. The payment is the number people shop on; the other two are the numbers that matter.
It uses the standard fixed-rate amortisation formula — the same arithmetic the lender uses — to find the level payment that clears the loan over the term. Each payment covers interest first, with whatever is left reducing the balance, which is why early payments barely dent the principal.
The number that changes decisions
Stretching a loan from five years to seven lowers the monthly payment, which is how it is usually sold. It also raises the total interest, often substantially.
Both are shown together so the trade is visible. A longer term is sometimes exactly right — cash flow is real — but it should be a choice made with the total in front of you rather than one made on the monthly figure alone.
What is not in this number
Principal and interest only. A real mortgage payment usually adds property tax, homeowner's insurance and sometimes HOA dues or PMI, which together can add a large fraction to the monthly cost.
For an auto or personal loan, principal and interest is normally the whole payment. This is an estimate for planning and comparing, not a loan offer and not financial advice — actual terms come from a lender. Nothing you type is uploaded.
Questions
Common questions
What does this tool do?
It calculates the monthly payment for a fixed-rate loan — a mortgage, auto loan, or personal loan — along with the total interest you'll pay and the total of all payments over the life of the loan.
How do I use it?
Enter the loan amount and the interest rate (APR), then pick a term or type a custom number of years (for example 5 for a typical auto loan). The monthly payment and totals update as you type.
How is the payment calculated?
It uses the standard fixed-rate amortization formula — the same math a lender uses — to find the level monthly payment that fully pays off the loan over the term. Each payment covers interest first, with the rest reducing the balance.
Does it include taxes and insurance?
No — it calculates principal and interest only. A real mortgage payment often adds property tax, homeowner's insurance, and sometimes HOA or PMI on top, so your actual monthly housing cost may be higher. For an auto or personal loan, principal and interest is usually the whole payment.
What do 'total interest' and 'total of all payments' mean?
Total interest is what the loan costs you on top of the amount you borrowed. Total of all payments is the amount borrowed plus that interest — the full amount you'll have paid by the end. They make the real cost of a long loan clear.
Is this financial advice?
No. It's an estimate to help you plan and compare. It isn't a loan offer, and it isn't financial advice — actual loan terms come from your lender. Everything is calculated in your browser; nothing is uploaded.
Our own software
Dictate it instead of typing it
Hold a key, say the sentence, and the words land in whatever Windows window you were already in. Runs on your own PC — no account, no upload, nothing to renew.
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