Loan & Mortgage Calculator
Enter a loan amount, interest rate and term to see the monthly payment and the total interest you'll pay.
How to use it
- Enter the loan amount The amount you plan to borrow.
- Add the rate and term The annual interest rate and the length in years.
- Read the payment See the monthly payment and the total interest over the term.
Examples
| $200,000 at 6% over 30 yrs | $1,199.10 / mo |
|---|---|
| Total interest | $231,676 |
About this tool
This calculator works out the monthly payment on a fixed-rate loan — a mortgage, car loan or personal loan — and shows how much you will pay in total and in interest over the life of the loan.
It uses the standard amortization formula, where each payment covers the interest due plus a slice of the principal. It is for general illustration only and is not financial advice; lenders may include fees and other costs. Everything runs in your browser.
Frequently asked questions
How is the monthly payment calculated?
With the standard amortization formula M = P·i / (1 − (1 + i)⁻ⁿ), where i is the monthly rate and n the number of monthly payments.
Does this include taxes and insurance?
No. It covers principal and interest only. Property taxes, insurance and fees would be additional.
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Updated June 12, 2026