Finance calculator
Loan Calculator
Estimate fixed monthly payments, total interest, payoff time, and amortization.
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Adjust the numbers
Uses a fixed-rate amortization schedule. Taxes, insurance, lender fees, and changing rates are not included.
Estimated monthly payment
$1,896.20
Amortization summary
| Time | Principal paid | Interest | Balance |
|---|---|---|---|
| 1 year | $3,353 | $19,401 | $296,647 |
| 2 years | $6,931 | $38,578 | $293,069 |
| 3 years | $10,748 | $57,515 | $289,252 |
| 4 years | $14,821 | $76,197 | $285,179 |
| 5 years | $19,167 | $94,605 | $280,833 |
| 6 years | $23,804 | $112,723 | $276,196 |
| 7 years | $28,751 | $130,530 | $271,249 |
| 8 years | $34,030 | $148,006 | $265,970 |
| 9 years | $39,662 | $165,128 | $260,338 |
| 10 years | $45,672 | $181,873 | $254,328 |
| 11 years | $52,084 | $198,215 | $247,916 |
| 12 years | $58,925 | $214,129 | $241,075 |
| 13 years | $66,224 | $229,584 | $233,776 |
| 14 years | $74,013 | $244,550 | $225,987 |
| 15 years | $82,323 | $258,994 | $217,677 |
| 16 years | $91,189 | $272,882 | $208,811 |
| 17 years | $100,649 | $286,176 | $199,351 |
| 18 years | $110,743 | $298,837 | $189,257 |
| 19 years | $121,513 | $310,822 | $178,487 |
| 20 years | $133,004 | $322,085 | $166,996 |
| 21 years | $145,265 | $332,579 | $154,735 |
| 22 years | $158,347 | $342,251 | $141,653 |
| 23 years | $172,305 | $351,048 | $127,695 |
| 24 years | $187,197 | $358,909 | $112,803 |
| 25 years | $203,088 | $365,774 | $96,912 |
| 26 years | $220,042 | $371,574 | $79,958 |
| 27 years | $238,132 | $376,238 | $61,868 |
| 28 years | $257,433 | $379,692 | $42,567 |
| 29 years | $278,027 | $381,852 | $21,973 |
| 30 years | $300,000 | $382,633 | $0 |
About this tool
Estimate the cost of a fixed-rate loan
Amortized loans use a level scheduled payment while the mix of interest and principal changes over time. Early payments generally contain more interest because the outstanding balance is larger.
Enter an optional extra monthly amount to model faster principal reduction. The estimate covers principal and interest only; lender fees, insurance, taxes, changing rates, and prepayment rules are not included.
How it works
Estimate a loan in three steps
- 1Enter loan details
Add the principal, annual rate, and term.
- 2Model extra payment
Optionally add a recurring amount applied toward principal.
- 3Review amortization
See payment, total interest, payoff time, and yearly balances.
Common questions
Loan Calculator FAQ
What does the monthly payment include?
It includes estimated principal and interest only, plus the optional extra payment.
How do extra payments help?
Extra principal reduces the balance sooner, which can shorten the term and reduce later interest.
Does this support adjustable rates?
No. The projection assumes one fixed annual rate for the entire term.