Free Loan Calculator
Loan Calculator works out the monthly payment, total interest and payoff date of a loan or mortgage using the standard amortization formula, and shows a full schedule by month or year. Add extra monthly or one-time payments to see the interest saved, and include PMI, property tax, insurance and HOA fees in mortgage mode.
- Formula:
- M = P·r / (1 − (1 + r)^−n)
- PMI:
- Ends at 78% loan-to-value
- Export:
- Amortization schedule as CSV
- Price:
- Free
- Runs:
- Locally, in your browser
- Uploads:
- None: files never leave your device
- Account:
- Not needed
Quick answers
How is the monthly payment calculated?
With the standard amortization formula: payment = P × r ÷ (1 − (1 + r)^−n), where P is the amount borrowed, r the monthly interest rate (annual rate ÷ 12) and n the number of monthly payments. At 0% interest the payment is simply the amount divided by the number of months.
Do extra payments really save money?
Yes. Every extra amount goes straight to the principal, so less interest is charged in all the following months and the loan ends earlier. The calculator shows both the months and the interest you save.
Processed on your device: your files are never uploaded. How it works
Network activity in this tab
What this page has requested since you opened the site in this tab. An upload is any request that sends data: POST, PUT, PATCH or a request with a body.
No uploads: nothing has been sent from this page.
No network requests yet.
To see every request, open your browser's developer tools (Network tab).
How to use the Loan Calculator
- Choose Loan or Mortgage and enter the amount (or home price and down payment), interest rate and term.
- Optionally add an extra monthly payment or a one-time lump sum to see how much interest you save.
- Read the monthly payment, total interest and payoff date, and explore the balance chart.
- Switch the schedule between yearly and monthly rows, or export it as a CSV file.
Credits & open source
Built from scratch on web standards. Thank you to the people who make these projects.
Web platform APIs used: Intl, Pointer Events, File API.
Full license texts: third-party notices · all credits
Frequently asked questions
What is included in the mortgage monthly cost?
Principal and interest, plus property tax and home insurance spread over 12 months, HOA fees and, when the down payment is under 20%, private mortgage insurance (PMI).
Is my data sent anywhere?
No. All calculations run in your browser; nothing is uploaded or stored on a server.