Loan & Mortgage Calculator

What is Loan & Mortgage Calculator?

The Loan & Mortgage Calculator is a free online tool for anyone weighing a fixed-rate loan: home buyers comparing mortgages, car shoppers, students estimating a study loan, or anyone budgeting a personal loan. Type the loan principal, the annual interest rate as a percent, and the term in years. The calculator instantly shows the fixed monthly payment, the total interest you will pay over the life of the loan, and the total repayment (principal plus interest). A schedule output breaks the loan down year by year, showing how much interest and principal you pay and the remaining balance at the end of each year. Because results update as you type, you can try different rates or terms and see the impact at a glance.

How to use Loan & Mortgage Calculator

1. Enter the loan principal (the amount you borrow) in the Principal field.
2. Enter the annual interest rate as a percent in the Annual rate field (for example 5.5).
3. Enter the loan term in years in the Term field (for example 30).
4. Read the fixed Monthly payment, Total interest, and Total repayment in the read-only result fields, which update automatically.
5. Review the year-by-year amortization summary in the Schedule output to see interest, principal, and remaining balance per year.
6. Adjust any input to instantly compare different rates, terms, or loan sizes.

Examples

Principal = 300000, Annual rate = 6, Term = 30

Monthly payment ≈ 1,798.65, Total interest ≈ 347,514, Total repayment ≈ 647,514

Principal = 25000, Annual rate = 4.5, Term = 5

Monthly payment ≈ 466.08, Total interest ≈ 2,964.91, Total repayment ≈ 27,964.91

Principal = 12000, Annual rate = 0, Term = 2

Monthly payment = 500, Total interest = 0, Total repayment = 12,000

Frequently asked questions

What formula does this calculator use?

It uses the standard fixed-rate amortization formula. The monthly payment is P × r ÷ (1 − (1 + r)^−n), where P is the principal, r is the monthly rate (annual rate ÷ 12 ÷ 100), and n is the number of months (years × 12). When the rate is 0, the payment is simply the principal divided by the number of months.

What does the amortization schedule show?

The schedule summarizes the loan year by year. For each year it lists the interest paid, the principal paid, and the balance remaining at the end of that year, so you can see how early payments are mostly interest while later payments mostly reduce the principal.

Does it account for taxes, insurance, or fees?

No. This is a pure principal-and-interest calculator. Property taxes, insurance, PMI, origination fees, and other costs are not included, so a real mortgage statement may be higher.

What if I leave a field blank or enter zero?

If the principal or term is missing or not a positive number, the results show a dash (—). A zero interest rate is valid and produces an interest-free, evenly split repayment.

Are my numbers sent to a server?

No. Every calculation runs 100% client-side in your browser with no upload and no server communication, so the loan figures you type never leave your device.