What formula does it use?

Standard amortizing loan math: the monthly payment is calculated from the principal, annual interest rate, and number of payments. Each payment is split into interest (on the remaining balance) and principal, then the balance is reduced.

Does it work for mortgages, car loans, and personal loans?

Yes. As long as the loan uses fixed monthly payments at a fixed interest rate, the math is the same. Set the term in years or months and enter the down payment if there is one.

What is amortization?

Amortization is the schedule of every payment over the life of the loan, showing how much goes to interest, how much pays down the principal, and the remaining balance after each payment.

Can I download the amortization schedule?

Yes. Click 'Download schedule' to save the full table as a CSV file for Excel, Google Sheets, or any spreadsheet.

Why does the total interest change when I add a down payment?

A down payment reduces the principal you borrow. Less principal means less interest charged over the life of the loan, and usually a lower monthly payment.

Calculate loan payments

Free loan calculator for monthly payments, total interest, and full amortization schedules — instant and 100% in your browser.

Loan amount

Down payment

Annual interest rate

Loan term

Currency

Principal

$200,000.00

Monthly payment

$1,135.58

Total interest

$208,808.08

Total cost

$408,808.08

What people use it for

Compare monthly payments before talking to a bank or car dealer.
See how much total interest a mortgage will cost over 15 or 30 years.
Check whether a bigger down payment saves meaningful interest.
Build a personal budget around an expected loan payment.
Estimate car, RV, boat, or equipment financing costs.
Export an amortization schedule for bookkeeping or tax planning.

This free loan calculator gives you an instant estimate of monthly payments, total interest, and the full cost of borrowing — all in your browser, with no signup and no data upload. Whether you are comparing a mortgage, a car loan, a personal loan, or financing for equipment, you can plug in the amount, interest rate, and term to see the numbers immediately.

It works as an amortization calculator, a mortgage payment estimator, and a quick way to calculate the total interest on any fixed-rate loan. Add a down payment to see how it lowers both the monthly payment and the lifetime cost of the loan, switch between years and months for the term, and choose from common currencies to match your region.

Every calculation is done locally, so sensitive financial details never leave your device. You can also show or download a complete amortization schedule as a CSV, making it easy to bring the numbers into Excel, Google Sheets, or a budget spreadsheet.

How it works

1
Enter the loan details
Type the loan amount, annual interest rate, term, and any down payment.
2
See the numbers instantly
Monthly payment, principal, total interest, and total cost update as you type.
3
Copy or export the schedule
Show the full amortization table, copy the summary, or download it as a CSV.

Frequently asked questions

No. The loan calculation runs entirely in your browser. No numbers, no loan details, and no results are sent to a server.

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What people use it for

How it works

Enter the loan details

See the numbers instantly

Copy or export the schedule