Loan Calculator
Loan Calculator
Payment, payoff, and interest in one view.
Pay faster
Required payment
$1,580.17
Monthly • per month
Live update
$1,580.17
standard plan
Equivalent monthly
$1,580.17
Interest
$318,861.22
Paid
$568,861.22
Payoff ETA
30 years
Advanced settings
Assumptions snapshot
- This fixed rate estimate covers the selected term; taxes, insurance, and escrow are not included.
- Extra recurring and one-time payments reduce principal directly in this estimate.
- Comparison-rate output is illustrative and not an official APR disclosure.
Formula basis: payment per period = P × r / (1 - (1 + r)⁻ⁿ), using the selected payment frequency.
Loan analysis
Total interest
$318,861.22
56.1% of total cost
Total paid
$568,861.22
Principal + interest
Estimated payoff
30 years
360 payments total
Payment cadence
Monthly
12/year
Base vs your payoff plan
Standard
$1,580.17 / payment
$318,861.22 interest
Your plan
$1,580.17 / payment
$318,861.22 interest
Time saved 0 months
Interest saved $0
Total cost split
Payment mix over time
- P1$249,774
- P31$242,394
- P61$233,715
- P91$223,509
- P121$211,508
- P151$197,396
- P181$180,800
- P211$161,285
- P241$138,337
- P271$111,351
- P301$79,618
- P331$42,301
- P360$0
Amortization schedule
360 payments total.
Year 1
Paid
$18,962.04
Principal
$2,794.31
Interest
$16,167.73
Balance
$247,205.69
Year 2
Paid
$18,962.04
Principal
$2,981.45
Interest
$15,980.59
Balance
$244,224.23
Year 3
Paid
$18,962.04
Principal
$3,181.13
Interest
$15,780.91
Balance
$241,043.1
Year 4
Paid
$18,962.04
Principal
$3,394.17
Interest
$15,567.87
Balance
$237,648.93
Year 5
Paid
$18,962.04
Principal
$3,621.49
Interest
$15,340.55
Balance
$234,027.44
Year 6
Paid
$18,962.04
Principal
$3,864.03
Interest
$15,098.02
Balance
$230,163.42
Year 7
Paid
$18,962.04
Principal
$4,122.81
Interest
$14,839.23
Balance
$226,040.61
Year 8
Paid
$18,962.04
Principal
$4,398.92
Interest
$14,563.12
Balance
$221,641.69
Year 9
Paid
$18,962.04
Principal
$4,693.52
Interest
$14,268.52
Balance
$216,948.17
Year 10
Paid
$18,962.04
Principal
$5,007.86
Interest
$13,954.18
Balance
$211,940.32
Formula
Payment per period = P × r / (1 - (1 + r)⁻ⁿ) \text{New balance} = \text{old balance} + \text{interest} - \text{payment} - Convert the annual rate to the selected payment-period rate r.
- Set n as years multiplied by monthly, biweekly, or weekly payments per year.
- Apply the amortization formula for the required payment, then reduce principal by any recurring or one-time extra payment.
Example
Worked example: 250000 at 6.5% for 30 years
- 1 r = 0.065/12
- 2 n = 30 × 12 = 360
- 3 Payment from amortization formula = 1580.17
Monthly payment is approximately 1580.17.
How
- Enter the loan amount, quoted annual interest rate, and term, or start from a built-in loan scenario.
- Optionally add a recurring extra payment, a one-time principal payment, financed fees, or a comparison rate.
- Review the base payment, regular payoff plan, total cost, payoff savings, and amortization schedule.
Avoid
- Mixing monthly and annual interest rates.
- Entering years as months by accident.
- Treating financed fees as fees paid separately at closing.
- Assuming the estimate includes taxes, insurance, changing rates, or lender prepayment restrictions.
Ref only. Verify assumptions, fees, taxes.
FAQ
Does this include property tax and insurance?
No. It estimates principal, interest, and any fees you explicitly add to the financed balance.
What if interest rate is zero?
Then payment is principal divided by number of months.
Can I use this for personal loans?
Yes, for fixed-rate installment style loans.
Can I compare extra payments?
Yes. Add an extra amount per payment or a one-time principal payment to compare payoff time and interest savings.
Is the comparison rate an official APR calculation?
No. It compares payment and interest at another nominal rate using the same balance, term, and payment frequency.
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