Loan Calculator
Estimate monthly payments, total interest, and view the full amortization schedule for fixed-rate, interest-only, or adjustable-rate loans.
Loan Details
Payment Summary
Amortization Schedule
| # | Date | Payment | Principal | Interest | Balance |
|---|---|---|---|---|---|
| Run calculation to see schedule | |||||
Understanding Your Loan Payment
This loan calculator helps you estimate monthly payments, total interest, and the full amortization schedule for three common loan types: Fixed-Rate, Interest-Only, and Adjustable-Rate (ARM). Whether you're planning a mortgage, auto loan, or personal loan, this tool gives you a clear financial picture.
Fixed-Rate Loan
The interest rate remains constant throughout the loan term. Monthly payments are stable, making budgeting easier. Use this for conventional mortgages, car loans, or student loans.
Interest-Only Loan
You pay only the interest for a set period (usually 5–10 years), then payments increase to cover principal. This can lower initial payments but result in higher total interest.
Adjustable-Rate Mortgage (ARM)
The rate is fixed for an initial period then adjusts periodically based on market rates. We simulate a simple ARM: fixed initial rate, then a rate cap per adjustment.
Why use a Loan Calculator?
- Plan your budget – know exactly what your monthly obligation will be.
- Compare loan types – see how different structures affect total cost.
- Amortization insight – understand how each payment splits between principal and interest.
- Make informed decisions – adjust terms to find the best fit for your financial goals.