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Loan and mortgage calculator

Work out the monthly payment, total interest and payoff date of a loan or mortgage, with taxes, insurance and extra payments, and see the full amortization schedule.

Monthly payment$1,896.20360 payments · 6.5% APR
Total interest$382,637128% of the amount borrowed
Payoff dateOct 2056After 360 payments

Total cost of the loan

Total paid$682,637
Principal
$300,000
Total interest
$382,637
Total of all payments
$682,637
How we calculate

The regular payment comes from the standard amortization (annuity) formula, with the annual rate divided by the number of payments per year:

M = P × r ÷ (1 − (1 + r)^−n)
P = loan amount, r = APR ÷ 12, n = number of payments.

For your loan: P = $300,000.00, r = 6.5% ÷ 12 = 0.54167%, n = 360 → M = $1,896.20. With 0% interest the payment is simply P ÷ n.

Each period, interest = remaining balance × r (rounded to the cent); the rest of the payment reduces the balance. Extra payments go straight to principal, so later interest is smaller. The final payment is adjusted for rounding so the balance ends at exactly zero.

Results are estimates for planning. Your lender's figures can differ (daily interest, fees, escrow changes, rate adjustments on variable loans).

Runs in your browser · no uploadHow it works

How to use Loan & mortgage calculator

  1. 1

    Describe the loan

    Enter the amount borrowed — or the home price and down payment in mortgage mode — plus the annual interest rate and the term in years or months.

  2. 2

    Choose how you'll pay

    Pick monthly, bi-weekly or weekly payments and the first payment date; turn on accelerated bi-weekly to pay half the monthly amount every two weeks.

  3. 3

    Try extra payments

    Add a monthly extra, a once-a-year payment or lump sums and watch the interest saved and the new payoff date update instantly.

  4. 4

    Export or share

    Download the amortization schedule as CSV, or copy the link — it opens with exactly the numbers you entered.

Limits and Pro

Everything is free: fixed-rate loans with equal payments, terms from 1 month to 50 years, rates from 0% to 100% and up to 24 one-time lump sums. Results are planning estimates, not a lender's quote.

About Loan & mortgage calculator

The calculator returns the fixed payment for your chosen frequency (monthly, bi-weekly or weekly), the total interest over the life of the loan, the payoff month, and a schedule of every payment with its interest, principal, extra amount, escrow and remaining balance. The schedule can be viewed by calendar year or payment by payment and downloaded as a CSV file that opens in Excel, Numbers or Google Sheets. A chart traces the balance falling alongside the interest and principal you have paid, with the original schedule dashed in when you add extras.

Mortgage mode turns a home price and a down payment (as a percentage or an amount) into the loan, spreads property tax and insurance across each payment, adds HOA dues, and charges PMI only while the balance is above 78% of the price — the point where US lenders must cancel it automatically.

Typical uses: comparing a 15-year and a 30-year mortgage, checking whether a car loan fits a monthly budget, deciding between paying extra and investing, or reading an EMI quote from an Indian bank. Interest is calculated per payment period at the annual rate divided by the payments per year and rounded to the cent, the way most US and Indian lenders amortize. It does not model adjustable-rate loans, interest-only periods, daily-interest auto loans, points and closing costs, or Canada's semi-annual compounding, so treat a lender's disclosure as the final word.

Privacy

Your loan figures never leave this device: every payment and schedule row is calculated by JavaScript in your browser, with no request to our servers. The inputs are kept in the page address so a link reproduces your scenario, and in this browser's local storage until you press Reset.

Features

Schedule you can export

Yearly or per-payment rows of principal, interest, extras, escrow and balance, downloadable as CSV.

Extra payment planner

Combine monthly extras, a yearly bonus and lump sums, measured against the original schedule.

True housing cost

Property tax, insurance, HOA dues and PMI that switches off automatically at 78% loan-to-value.

Every currency

Pick any ISO currency; numbers and dates follow your browser's language settings.

Loan & mortgage calculator: frequently asked questions

How much is the monthly payment on a $300,000 mortgage?
At 6.5% over 30 years the principal and interest payment is $1,896.20 a month, and you pay about $382,637 in interest. At 6% it falls to $1,798.65. A 15-year term at 6.5% costs $2,613.32 a month but saves roughly $212,000 of interest. Property tax, insurance, PMI and HOA dues are extra — mortgage mode adds them.
Do bi-weekly mortgage payments really save money?
Accelerated bi-weekly payments do. Paying half the monthly amount every two weeks makes 26 half-payments a year, the same as 13 monthly payments, so a $300,000 loan at 6.5% is cleared in about 24 years instead of 30 and saves around $88,000 of interest. A plain bi-weekly plan that re-amortizes the loan at 26 payments a year saves only a few hundred dollars.
Is a lump sum or a monthly extra payment better?
Whichever reaches the lender first. Every unit of principal you repay stops collecting interest from that day, so a lump sum in year two beats the same total spread over year ten. On a $300,000 loan at 6.5%, an extra $200 a month from the start cuts 83 payments and about $103,000 of interest. Check that your loan has no prepayment penalty before paying ahead.
Is this the same as an EMI calculator?
Yes. EMI, short for equated monthly instalment, is what banks in India, Pakistan, Bangladesh and Sri Lanka call the fixed monthly loan payment, and it uses the same reducing-balance formula. Choose your currency, enter the principal, the annual rate and the tenure in months or years, and the result is labelled Monthly EMI for rupee and taka currencies.
Can I use it for a car loan or a personal loan?
Yes, for any fixed-rate loan repaid in equal instalments. Stay in loan mode, enter the amount financed after your trade-in and deposit, the APR and the term — $25,000 at 7% for 60 months is $495.03 a month. Some auto lenders charge interest daily rather than monthly, which can move the total by a few dollars; your contract's figures win.

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