Loan payment calculator
Enter a loan amount, annual rate, and term to estimate the monthly payment and interest cost.
$568,861 total repayment · $318,861 total interest
How it works
The calculator uses the standard fixed-rate amortizing loan formula with monthly payments. Real loans may include fees, insurance, taxes, prepayment terms, or variable rates; use the lender's disclosure for a final quote.
Look beyond the monthly payment
A longer term can lower the monthly payment while increasing total interest. Test different terms and rates, then compare the payment with your full household budget.
This is general educational information, not lending, investment, or financial advice.
Formula and calculation boundary
Monthly payment = principal × r × (1 + r)^n ÷ ((1 + r)^n − 1), where r is the monthly rate and n is the number of payments. At 0% interest, principal is divided evenly across months.
Worked example
For the default $250,000 loan, 6.5% annual rate, and 30-year term, the model gives about $1,580 per month, $568,861 total repayment, and $318,861 total interest before fees, insurance, and tax.
Check before acting
- Compare annual percentage rate and fees, not only the headline rate.
- Test a shorter term and an affordable extra-payment scenario.
- Leave room for insurance, tax, maintenance, and income interruption.
Questions people ask
Why can a lender quote differ from this result?
A lender may use a different day-count method or include fees, insurance, escrow, introductory rates, or a variable-rate schedule.
Does the calculator model early repayment?
No. It assumes the same scheduled payment through the selected term.