Thinking about a home loan, car loan or personal loan? Our free Loan & Mortgage Calculator shows what you will really pay each month and over the life of the loan. Enter the amount, interest rate and term to see your monthly payment, total interest and payoff date. For a mortgage, add the down payment, property tax, home insurance, HOA fees and PMI to see your full monthly cost. You can also add an extra monthly payment to see how much interest you save and how many months sooner you finish. A year-by-year or month-by-month amortization schedule is included, and it works on any phone or computer.
Loan & Mortgage Calculator
Charged until the balance falls to 80% of the home price.
How to Use
- Choose Loan for car, personal or education loans, or Mortgage for a home purchase.
- For a loan, enter the loan amount. For a mortgage, enter the home price and down payment (as a % or an amount).
- Enter the annual interest rate and the loan term in years. You can add extra months if needed.
- Optional: add an extra monthly payment. For a mortgage, you can also add property tax, home insurance, HOA fees and PMI.
- Click Calculate to see your monthly payment, total interest, payoff date and the amortization schedule.
- Switch the schedule between Yearly and Monthly, or click Share Results to share or copy your numbers.
FAQs
- What is the difference between a loan and a mortgage calculator? A loan calculator covers principal and interest only. The mortgage mode adds the down payment, property tax, insurance, HOA fees and PMI to give your total monthly housing cost.
- How do extra payments help? Extra payments go straight to the principal. You pay less interest and finish the loan sooner, and the calculator shows both savings.
- What is PMI? Private mortgage insurance is usually charged when your down payment is under 20%. This calculator charges it until your balance falls to 80% of the home price.
- Is the calculator free? Yes, it is free with no sign-up.
