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💰 Loan Calculator
Loan Payment Calculator
Calculate monthly loan payments, total interest, and view detailed amortization schedules for any loan type.
Loan Details
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%
$
Additional principal payment each month
Loan Summary
Monthly Payment: $489.15
Total Interest: $4,349.22
Total of Payments: $29,349.22
Payoff Time: 5 years
Amortization Schedule
| Payment # | Payment Date | Payment | Principal | Interest | Balance |
|---|---|---|---|---|---|
| 1 | Feb 2026 | $489.15 | $353.74 | $135.42 | $24,646.26 |
| 2 | Mar 2026 | $489.15 | $355.65 | $133.50 | $24,290.61 |
| 3 | Apr 2026 | $489.15 | $357.58 | $131.57 | $23,933.03 |
| 4 | May 2026 | $489.15 | $359.52 | $129.64 | $23,573.51 |
| 5 | Jun 2026 | $489.15 | $361.46 | $127.69 | $23,212.05 |
| 6 | Jul 2026 | $489.15 | $363.42 | $125.73 | $22,848.63 |
| 7 | Aug 2026 | $489.15 | $365.39 | $123.76 | $22,483.24 |
| 8 | Sep 2026 | $489.15 | $367.37 | $121.78 | $22,115.87 |
| 9 | Oct 2026 | $489.15 | $369.36 | $119.79 | $21,746.51 |
| 10 | Nov 2026 | $489.15 | $371.36 | $117.79 | $21,375.15 |
| 11 | Dec 2026 | $489.15 | $373.37 | $115.78 | $21,001.78 |
| 12 | Jan 2027 | $489.15 | $375.39 | $113.76 | $20,626.38 |
* Showing first 12 payments. Switch to yearly view to see full term summary.
Loan Comparison
15-Year Loan
Monthly Payment: $217.78
Total Interest: $14,199.83
20-Year Loan
Monthly Payment: $186.39
Total Interest: $19,734.39
30-Year Loan
Monthly Payment: $158.02
Total Interest: $31,886.12
Loan Payment Tips
💡 Save on Interest
- • Make extra principal payments when possible
- • Consider bi-weekly payments instead of monthly
- • Round up your monthly payment to the nearest $50 or $100
- • Use tax refunds or bonuses for extra payments
🏦 Loan Shopping
- • Shop around with multiple lenders for best rates
- • Check your credit score before applying
- • Consider shorter terms to save on total interest
- • Factor in all fees, not just the interest rate