Loan Payment Calculator
Mortgage, car loan or personal loan — enter the amount, rate and term to see your monthly payment, total interest and every payment in the schedule.
| # | Payment | Principal | Interest | Balance |
|---|
This tool runs entirely in your browser. Nothing you add is uploaded to any server.
Last checked: · Made by Fingertip Workshop
How to use
- 1
Enter the loan amount, annual interest rate and term.
- 2
Pick a repayment type: equal payments (standard amortization), equal principal, or interest-only with a balloon.
- 3
Add interest-only months if your loan starts with them.
- 4
Review the schedule and export it as CSV for a spreadsheet.
Three ways to repay
| Type | Monthly payment | Total interest |
|---|---|---|
| Equal payments (amortizing) | Same every month | Medium |
| Equal principal | Highest first, then falls | Lowest |
| Interest-only + balloon | Interest only, principal at the end | Highest |
The formula
Each month's interest is remaining balance × annual rate ÷ 12. For equal payments:
payment = P × r × (1+r)n ÷ ((1+r)n − 1) where r is the monthly rate and n the number of months.
Early payments are mostly interest, which is why the balance falls slowly at first.
FAQ
Why does my lender show a slightly different number?
Lenders may use actual day counts, fees or different rounding. The difference is usually small.
Does it include taxes and insurance?
No — only principal and interest. Add property tax and insurance separately for a full mortgage payment.
What about variable rates?
This assumes a fixed rate. Try the calculation again with a higher rate to see a worst case.