Loan/Mortgage Estimator
Free loan & mortgage calculator — estimate monthly payments, total interest, and view amortization schedules.
Monthly Payment
$0.00
Total Payment
$0
Total Interest
$0
M = P[r(1+r)ⁿ] / [(1+r)ⁿ – 1]
📊 Amortization Schedule (First 12 Months)
| Month | Payment | Principal | Interest | Balance |
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Estimate Your Loan Payments
Use this free mortgage and loan calculator to estimate your monthly payments, see total interest costs, and view an amortization schedule. Works for home mortgages, car loans, personal loans, and any fixed-rate amortizing loan.
FAQ
How is the monthly mortgage payment calculated?
Monthly payments are calculated using the standard amortization formula: M = P[r(1+r)^n] / [(1+r)^n – 1], where P is the loan principal, r is the monthly interest rate, and n is the total number of payments.
What is a good mortgage interest rate?
Interest rates vary by market conditions, credit score, and loan type. As a general guide, rates below the national average are considered good. Use this tool to compare how different rates affect your monthly payment and total interest paid.
What is an amortization schedule?
An amortization schedule shows how each monthly payment is split between principal and interest over the life of the loan. Early payments are mostly interest, while later payments go primarily toward principal.