Front-loaded interest
On a typical mortgage, month 1 can be 70%+ interest—by halfway, most of each payment finally hits principal.
Payment mix
Amortized Loan Calculator — Monthly or Quarterly Payments
Inputs
Results
Summary
Payment Every Month
$0.00
Total of 0 Payments
$0.00
Total Interest
$0.00
Loan Calculator: estimate payments and total cost
This loan calculator helps you understand how much a loan will cost over time and what your regular payment will be. It’s useful for comparing mortgage offers, car loans, or personal loans, and for seeing how interest rate, loan term, and payment frequency affect your total interest. Enter your numbers and you’ll get an instant payment estimate plus a clear amortization schedule.
Loan basics in plain language
When you borrow money, the principal is the amount you receive, and interest is the fee you pay for borrowing it. A fixed-rate loan spreads repayment across a set term (like 3, 5, or 30 years) using steady, repeating payments. Each payment is split into interest and principal. Early in the loan, more of your payment goes to interest; later, a larger share goes toward paying down the balance. This gradual shift is called amortization.
How to use the calculator
- Enter the loan amount (principal).
- Choose the annual interest rate your lender offers.
- Select the loan term and payment frequency (monthly, quarterly, etc.).
- Click Calculate to see your payment, total interest, and total paid.
- Open the amortization table to view the balance, interest, and principal for each payment.
Where it’s useful
- Mortgage planning: Compare 15-year vs 30-year loan payments and total interest.
- Auto loans: See how a small rate change affects your monthly budget.
- Personal loans: Estimate repayment costs before applying or consolidating debt.
- Extra payment strategy: Test how higher payments reduce interest and shorten the loan term.
What the results mean
Your payment estimate shows the fixed amount needed each period to fully repay the loan by the end of the term. The total interest reveals the true cost of borrowing, which helps you compare offers beyond the monthly payment. If you’re deciding between payment schedules, remember that more frequent payments usually reduce interest because less time passes between payments.
Loan Calculator FAQ
How accurate is it?
It uses the standard fixed-rate amortization formula. Minor differences can occur if a lender uses slightly different conventions.
Does it work for any loan?
Yes—mortgages, auto, and personal loans, provided rate and schedule are fixed.
Monthly vs quarterly payments?
Monthly = 12 payments/year; quarterly = 4. Fewer payments tend to accrue more interest between payments.
Is my data private?
100% client-side—nothing is uploaded.
5 Fun Facts about Loans & Amortization
One extra a year is huge
Adding one extra monthly payment per year on a 30-year loan can chop ~4–5 years off and save tens of thousands in interest.
Prepay power
Biweekly ≈ 13 payments
Biweekly schedules sneak in 26 half-payments (13 full payments) a year, acting like a built-in prepayment plan.
Timing hack
APR vs APY gap
Loans quote APR (simple), but interest accrues between payments. Effective cost is higher because of compounding.
Real cost
Refi break-even is mathable
Divide refi costs by monthly savings to estimate break-even months—handy before jumping at a lower rate.
Refi check