All Free Loan Calculators
Each calculator below is built for a specific loan type with pre-filled typical values and dedicated guidance.
Universal Loan Calculator
Works for personal loans, auto loans, student loans, business loans, or any fixed installment loan. For mortgages, use the dedicated mortgage calculator below.
Monthly Payment
--
Total Interest Paid
--
Total Amount Paid
--
Annual Rate
--
Full Amortization Schedule
| Month | Payment | Principal | Interest | Balance |
|---|
Mortgage Calculator
Monthly payment, total interest, and full 30-year amortization. The most-used calculator on the site.
Personal Loan Calculator
Compare loan scenarios side by side — see total interest across different rates and terms.
Auto Loan Calculator
Find your exact car payment. Enter purchase price, down payment, rate, and term to see the full picture.
Debt Consolidation Calculator
Compare your current total debt cost vs. a consolidation loan — see exactly how much you'd save.
Debt Payoff Calculator
Enter all your debts and see your debt-free date using the snowball or avalanche method.
Refinance Calculator
Calculate your break-even point — how many months until your savings outweigh the closing costs.
Home Equity Calculator
Find out exactly how much equity you have and how much you can borrow against your home.
Amortization Schedule Calculator
Full payment-by-payment breakdown showing principal, interest, and balance for any loan.
Universal Loan Calculator
Works for any fixed-rate installment loan — personal, student, business, or RV.
How to Use a Loan Calculator
Three inputs. That is all you need. Enter the loan amount (how much you are borrowing), the annual interest rate (the APR the lender quoted you), and the loan term in months. The calculator handles the math.
The formula behind every loan payment calculator is: P times [r(1+r)^n] divided by [(1+r)^n minus 1]. Where P is the principal, r is the monthly interest rate (annual rate divided by 12), and n is the number of payments. You do not need to understand the formula — just understand what the output means.
Understanding Your Amortization Schedule
In the early months of a loan, most of each payment goes toward interest with very little reducing the principal. Over time, that ratio flips. This is why paying off a loan early saves so much interest — you are eliminating the most interest-heavy payments from the end of the schedule.
The amortization table shows exactly how much principal and interest you pay each month and what your remaining balance will be at any point. This is useful for understanding: when you will reach 20% equity on a mortgage, how much of your debt is paid after year 2, and how much you save by making one extra payment per year.
Rate vs. APR: Which Should You Enter?
Use the APR when calculating total cost and comparing lenders. APR includes fees and is the true all-in rate. Use the interest rate when calculating the monthly payment per the loan agreement — this is the rate your lender actually applies to the balance each month. For most personal and auto loans, APR and rate are the same if there are no origination fees.
Frequently Asked Questions
Our calculators use the standard loan amortization formula and are mathematically accurate for fixed-rate installment loans. They do not include property taxes, insurance, PMI, or origination fees unless those are built into the entered rate. For mortgages, your actual payment will be higher than the principal-and-interest calculation shown here.
An amortization schedule is a complete table showing each payment over the life of the loan, broken down by how much goes to principal, how much goes to interest, and what the remaining balance is after each payment. It is the most complete view of the true cost of a loan over time.
APR is the annualized cost of borrowing including all fees. Simple approximation: take the interest rate, add fees spread over the loan term, and annualize. For example, a $10,000 loan at 10% with a $300 origination fee over 2 years has an APR of approximately 13%. Our financial education guide on what APR means covers this in detail.
Yes, significantly. Any extra principal payment eliminates that amount from every future interest calculation. On a $300,000 mortgage at 7%, paying one extra payment per year can eliminate roughly 4 to 5 years of payments and save approximately $60,000 to $80,000 in interest over the loan life.