Finance
Loan Calculator
See your monthly payment, how much interest you will pay over the life of the loan, and a month-by-month amortization table. All calculations run in your browser.
Monthly payment
$1,073.64
Amortization schedule
360 monthly payments| Month | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $240.31 | $833.33 | $199,759.69 |
| 2 | $241.31 | $832.33 | $199,518.38 |
| 3 | $242.32 | $831.33 | $199,276.06 |
| 4 | $243.33 | $830.32 | $199,032.74 |
| 5 | $244.34 | $829.30 | $198,788.40 |
| 6 | $245.36 | $828.28 | $198,543.04 |
| 7 | $246.38 | $827.26 | $198,296.66 |
| 8 | $247.41 | $826.24 | $198,049.25 |
| 9 | $248.44 | $825.21 | $197,800.81 |
| 10 | $249.47 | $824.17 | $197,551.34 |
| 11 | $250.51 | $823.13 | $197,300.83 |
| 12 | $251.56 | $822.09 | $197,049.27 |
Disclaimer: This calculator provides estimates for informational purposes only. It does not account for taxes, fees, insurance, or other charges that may apply to your actual loan. Consult a licensed financial advisor before making borrowing decisions.
Frequently asked questions
How is my monthly payment calculated?+
The tool uses the standard fixed-rate amortization formula: M = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the total number of monthly payments.
What is an amortization schedule?+
It is a month-by-month breakdown of each payment into principal and interest. Early on most of the payment goes to interest; over time the share flips toward principal.
Does this handle variable or adjustable-rate loans?+
No. This calculator assumes a fixed interest rate for the entire term. For an ARM you would need to recalculate whenever the rate adjusts.
Can I see every month in the schedule?+
Yes. The table starts collapsed to the first 12 months. Press "Show all months" to reveal the full schedule through the final payment.
How accurate are these numbers?+
The math follows the standard amortization formula and is accurate for a fixed-rate loan with interest compounded monthly. Real loans often include origination fees, property tax escrow, insurance and more that this tool does not model — treat the output as a baseline estimate.
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