Loan Calculator
Calculate monthly payment, total interest, and total cost of a fixed-rate loan.
Frequently Asked Questions
What formula does this calculator use?
The standard fixed-rate amortization formula: M = P * r * (1+r)^n / ((1+r)^n - 1), where M is monthly payment, P is principal, r is monthly rate, and n is number of months.
Does it include fees or insurance?
No. This calculator shows principal and interest only. Origination fees, insurance, and taxes should be added separately.
Can I use it for zero-interest loans?
Yes. With a 0% rate, the payment is simply principal divided by number of months.