Loan Calculator
Estimate the monthly payment, total interest and total cost of a fixed-rate loan — mortgage, car or personal.
Assumes a fixed interest rate and equal monthly payments (amortised). Taxes, insurance and fees are not included.
How the monthly payment is calculated
The tool uses the standard amortisation formula: M = P · r(1+r)ⁿ / ((1+r)ⁿ − 1), where P is the loan amount, r the monthly interest rate (annual ÷ 12) and n the number of payments. Each payment starts mostly interest and gradually shifts toward principal — which is why extra payments early in a loan save so much interest.
Frequently asked questions
Why is my real quote different?
Lenders add costs this calculator excludes: property tax, insurance, PMI, origination fees, or an interest rate that is not fixed. Treat the result as a baseline for comparing offers.
What does a 0% interest loan show?
With a 0% rate the formula simplifies to loan ÷ number of months — no interest, evenly spread.