How is the monthly payment calculated?

With the amortization formula M = P × r(1+r)ⁿ / ((1+r)ⁿ − 1), where P is the principal, r the monthly interest rate (annual rate / 12), and n the number of monthly payments.

Does this include taxes and insurance?

No — it calculates principal and interest only. Mortgages typically add property taxes, homeowner's insurance, and sometimes PMI on top of this figure.

Is this financial advice?

No. This is an educational estimate based on the numbers you enter. Actual loan offers depend on fees, compounding conventions, and your credit profile — always review the lender's official terms.

Loan Calculator

Estimate the monthly payment for a mortgage, car loan, or personal loan using the standard amortization formula. Enter the loan amount, annual interest rate, and term to see your monthly payment, the total amount you'll pay over the life of the loan, and how much of that is interest — often an eye-opening number.

Calculators

Loan amount ($)

Annual interest rate (%)

Term (years)

Monthly payment: $1,580.17
Total paid: $568,861.22; over 360 payments
Total interest: $318,861.22

Principal and interest only — taxes, insurance, and fees are not included. Estimates are for information, not financial advice.

Private by default

This tool runs entirely in your browser. Your data is never uploaded to a server.

How to use

4 clear steps.

Enter the loan amount (principal).
Enter the annual interest rate as a percentage.
Set the loan term in years (and months if needed).
Read the monthly payment, total repayment, and total interest.

Good to know

Frequently asked questions

How is the monthly payment calculated?: With the amortization formula M = P × r(1+r)ⁿ / ((1+r)ⁿ − 1), where P is the principal, r the monthly interest rate (annual rate / 12), and n the number of monthly payments.
Does this include taxes and insurance?: No — it calculates principal and interest only. Mortgages typically add property taxes, homeowner's insurance, and sometimes PMI on top of this figure.
Is this financial advice?: No. This is an educational estimate based on the numbers you enter. Actual loan offers depend on fees, compounding conventions, and your credit profile — always review the lender's official terms.