Loan Calculator
Calculate your monthly payment, total amount paid, and total interest for any fixed-rate loan.
Results
What is it?
A loan calculator determines your fixed monthly payment for a standard amortising loan. It uses the present-value annuity formula (PMT) to split the principal and interest evenly across the life of the loan.
How to use
Enter the total loan amount, the annual interest rate your lender quoted, and the loan term in years (plus any extra months). The calculator instantly shows your monthly payment, the total you will pay over the life of the loan, and how much of that total is pure interest.
Example scenario
You borrow $250,000 at 6.5 % for 30 years. Your monthly payment is approximately $1,580. Over the full term you will pay about $569,000 — meaning roughly $319,000 is interest alone.
Pro tip
Even a 0.25 % drop in rate on a 30-year mortgage can save you tens of thousands of dollars. Always compare lender offers and consider paying points upfront to buy down the rate.