Calculate monthly payments, interest, and amortization for mortgages and personal loans
| # | Payment | Principal | Interest | Taxes/Insurance | Balance |
|---|---|---|---|---|---|
| Year | Contributions | Interest Earned | Balance |
|---|---|---|---|
Choose Mortgage for home loans (with optional taxes and insurance) or Personal Loan for other fixed-rate loans.
Enter the loan amount or, for mortgage, home price and down payment. Down payment can be in currency or percentage.
Enter the annual interest rate and loan term (years or months).
For mortgage, optionally add annual property tax and home insurance to include them in the monthly payment (PITI).
Click Calculate to see monthly payment, total interest, total cost, and the full amortization schedule.
Review the summary and use the amortization table to see how each payment splits between principal and interest.
Use pagination to browse the amortization schedule. Export or copy results if needed for your records.
Try different rates or terms to compare scenarios and find a payment that fits your budget.
A loan calculator estimates monthly payments, total interest, and the full amortization schedule based on principal, interest rate, and term. It helps you compare loan options and plan your budget.
PITI stands for Principal, Interest, Taxes, and Insurance. For mortgages, it is the full monthly housing cost. The mortgage tab includes optional property tax and insurance for a realistic estimate.
The amortization schedule shows how each payment is split between principal and interest over time. Early payments are mostly interest; later payments are mostly principal. Use it to see payoff progress.
Rates vary by lender, credit score, and market. Use this calculator to compare scenarios (e.g. 15 vs 30 years) and see how rate changes affect your payment and total cost.
Yes. All calculations run in your browser. Your numbers are never sent to a server, so your financial data stays private.
Yes. The calculator supports mortgage mode (with optional taxes and insurance) and personal loan mode. Switch tabs to choose. Results include monthly payment, total interest, total cost, and full amortization table.
Enter home price and down payment (as amount or percentage). The loan amount is calculated automatically. Then add interest rate, term, and optionally annual property tax and insurance for PITI.
Extra payments reduce principal faster and shorten the loan term, saving interest. This calculator shows the standard schedule; for extra-payment scenarios, run a new calculation with a lower principal or shorter term.
Results are estimates. Actual offers depend on your credit, lender, and fees (e.g. closing costs, PMI). Use this tool to compare options and budget; get exact numbers from your lender.
Yes. Use the personal loan tab for auto loans, student loans, or any fixed-term loan with a fixed interest rate. Enter the loan amount, rate, and term to see payments and amortization.
Even a 0.5% interest rate difference can save thousands over the life of a loan. Get quotes from at least 3-5 lenders including banks, credit unions, and online lenders.
Understand all fees: origination fees, prepayment penalties, late payment charges, and closing costs. The lowest rate is not always the cheapest loan when fees are included.
Even small extra monthly payments significantly reduce total interest and loan duration. An extra $100/month on a 30-year mortgage can save years of payments.
A higher credit score qualifies you for lower interest rates. Pay bills on time, keep credit utilization below 30%, and avoid opening new accounts before applying for a loan.
Shorter terms (15 years) have higher monthly payments but much less total interest. Longer terms (30 years) are more affordable monthly but cost significantly more overall.
For mortgages, your monthly cost includes principal, interest, property tax, insurance, HOA fees, and maintenance. Use the PITI estimate to budget accurately.
Before taking on a loan, ensure you have 3-6 months of expenses saved. This protects you from defaulting if you face unexpected job loss or medical expenses.
For mortgages, a down payment of 20% or more typically eliminates Private Mortgage Insurance (PMI), which can add 0.5-1.5% of the loan amount annually to your costs. Saving for a larger down payment significantly reduces total loan cost.
Use the amortization schedule to identify high-interest early payments. Making lump-sum extra payments in the first 5 years of a long-term loan reduces principal faster and has a disproportionately large effect on total interest paid.
Consider refinancing your loan if interest rates drop significantly (typically 1% or more) after you take out the loan. Use the loan calculator to compare your current terms with the new offer, factoring in any refinancing fees and remaining term.
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