PDFandMore24Loan Calculator
Calculate monthly loan payments and interest.
Loan Calculator
Estimate a fixed-rate loan payment from the amount borrowed, annual interest rate, and repayment term. Review monthly payment, total repayment, and total interest before comparing offers.
Formula: payment = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is principal, r is monthly rate, and n is number of monthly payments. This estimate excludes fees, insurance, and variable rates.
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About Loan Calculator
Use this loan calculator to estimate a fixed-rate monthly payment, total payments, total interest, and number of payments. It follows the standard amortization approach used by common loan calculators, including the principal, annual interest rate, and repayment term.
How to use it
- Enter the amount borrowed.
- Enter the annual interest rate.
- Enter the repayment term and choose years or months.
- Review the monthly payment, total repayment, and total interest.
- Compare the estimate with the lender offer, including fees and insurance.
Key Features
- ✓ Monthly payment estimate
- ✓ Total repayment estimate
- ✓ Total interest estimate
- ✓ Year or month loan terms
- ✓ Zero-interest loan support
Frequently Asked Questions
What does the loan calculator include?
It estimates principal repayment and interest for a fixed-rate amortizing loan. Fees, insurance, taxes, and variable-rate changes are not included.
Why can a lender payment differ?
Lenders may add origination fees, insurance, taxes, rounding, different compounding, or variable-rate terms.
What formula is used?
The standard fixed-payment formula uses principal, monthly interest rate, and the number of monthly payments.