Loan Calculator
Calculate the monthly payment, total interest and payoff schedule of an amortized loan from the amount, rate and term — and compare a different rate or an extra payment side by side.
Example values are shown — change any of them and the answer updates live.
$
%
years
NowTerm
Year 10Remaining $190,153Principal paid $109,847Interest paid $137,793
Monthly payment
$2,063.66
$300,000 · 5.5% · 20 years
At 5.5% over 20 years.
Total principal$300,000
Total interest$195,279
Total paid$495,279
Interest share39.4%
P&I only — taxes, insurance and fees are not included. Numbers are estimates, not offers.
Compare scenarios ↓Compare scenarios
At 5.5%
$2,063.66/ month
Paid off in 20 years · $195,279
At 6.5%
$2,236.72/ month
Paid off in 20 years · $236,813
Monthly payment
+$173.06/ month
Total interest
+$41,534
Term
20 years
How it works
Step 1 · Monthly rate
r = APR ÷ 12
5.5 ÷ 12 = 0.4583%
0.004583
Step 2 · Payments
n = years × 12
20 × 12 = 240
240 payments
Step 3 · Annuity formula
P = L·r(1+r)ⁿ / ((1+r)ⁿ − 1)
300000 × 0.004583 × (1.004583)²⁴⁰ ÷ …
$2,064 / month
Estimates under the stated assumptions, for illustration — not financial advice.