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Loan / Mortgage Calculator

Calculate monthly mortgage payments, total interest, and view a full amortization schedule. Works for any loan type. No signup required.

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Loan Details

Results

Monthly Payment

$1,896.20

Total Payment

$682,633.47

Total Interest

$382,633.47

Payment Breakdown

Principal ($300,000.00)Interest ($382,633.47)

Amortization Schedule (First 12 Months)

MonthPaymentPrincipalInterestBalance
1$1,896.20$271.20$1,625.00$299,728.80
2$1,896.20$272.67$1,623.53$299,456.12
3$1,896.20$274.15$1,622.05$299,181.97
4$1,896.20$275.64$1,620.57$298,906.34
5$1,896.20$277.13$1,619.08$298,629.21
6$1,896.20$278.63$1,617.57$298,350.58
7$1,896.20$280.14$1,616.07$298,070.44
8$1,896.20$281.66$1,614.55$297,788.79
9$1,896.20$283.18$1,613.02$297,505.60
10$1,896.20$284.72$1,611.49$297,220.89
11$1,896.20$286.26$1,609.95$296,934.63
12$1,896.20$287.81$1,608.40$296,646.82

Yearly Summary

YearPrincipal PaidInterest PaidEnd Balance
1$3,353.18$19,401.27$296,646.82
2$3,577.74$19,176.70$293,069.08
3$3,817.35$18,937.10$289,251.73
4$4,073.01$18,681.44$285,178.72
5$4,345.79$18,408.66$280,832.93
6$4,636.83$18,117.62$276,196.10
7$4,947.37$17,807.08$271,248.73
8$5,278.70$17,475.75$265,970.03
9$5,632.23$17,122.22$260,337.81
10$6,009.43$16,745.02$254,328.38
11$6,411.89$16,342.56$247,916.49
12$6,841.31$15,913.14$241,075.18
13$7,299.48$15,454.97$233,775.70
14$7,788.34$14,966.11$225,987.36
15$8,309.94$14,444.51$217,677.42
16$8,866.47$13,887.98$208,810.95
17$9,460.28$13,294.17$199,350.68
18$10,093.85$12,660.60$189,256.83
19$10,769.85$11,984.60$178,486.98
20$11,491.13$11,263.32$166,995.85
21$12,260.71$10,493.74$154,735.14
22$13,081.83$9,672.62$141,653.30
23$13,957.95$8,796.50$127,695.36
24$14,892.74$7,861.71$112,802.62
25$15,890.13$6,864.32$96,912.49
26$16,954.32$5,800.13$79,958.16
27$18,089.79$4,664.66$61,868.38
28$19,301.29$3,453.16$42,567.08
29$20,593.94$2,160.51$21,973.15
30$21,973.15$781.30$0.00
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How to Use Loan / Mortgage Calculator

  1. 1

    Enter loan amount

    Enter the total amount you plan to borrow.

  2. 2

    Set interest rate

    Enter the annual interest rate offered by your lender.

  3. 3

    Choose loan term

    Enter the loan term in years (e.g., 15 or 30 for a mortgage).

  4. 4

    Review results

    See your monthly payment, total cost, and detailed amortization schedule.

Frequently Asked Questions

We use the standard PMT formula: M = P[r(1+r)^n] / [(1+r)^n - 1], where P is the loan amount, r is the monthly interest rate, and n is the total number of payments.

Yes! This calculator works for any fixed-rate loan including mortgages, car loans, personal loans, and student loans. Just enter the loan amount, rate, and term.

Amortization is the process of paying off a loan through regular payments over time. Each payment covers both interest and principal. Early payments are mostly interest, while later payments are mostly principal.

You can pay off a loan faster by making extra payments toward the principal, refinancing to a shorter term, or making biweekly instead of monthly payments.