Monthly payment
$0/mo
Total paid—
Total interest—
Estimate your monthly payment for a mortgage, auto loan, or personal loan — same engine, any loan type.
Monthly payment is calculated using the standard amortization formula, which spreads principal and interest across equal payments over the loan term. Early payments are interest-heavy; later payments pay down more principal.
payment = P × [r(1+r)^n] / [(1+r)^n − 1]
A year-by-year summary of how much of your payments go to principal versus interest, and your remaining balance at the end of each year.
Longer loan terms and higher interest rates both increase total interest paid — even a modest rate can add up significantly over many years.
Yes — extra payments toward principal reduce the balance interest is calculated on. You can approximate the effect here by re-running the calculator with a shorter term.