Loan and mortgage calculator
See what you will pay each month and in total interest, with the balance year by year.
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How it is calculated
payment = P · i / (1 − (1 + i)^−n)
i = annual rate / 12 / 100 n = years × 12
With a standard amortizing loan the payment stays the same: early payments are mostly interest, later ones mostly principal.
The result covers principal and interest only. Property taxes, insurance (escrow) and fees are not included; compare offers by APR.
Frequently asked questions
What is the payment on a $300,000 mortgage at 6.5 % for 30 years?
About $1,896 a month in principal and interest, with roughly $383,000 of interest over the full term.
What is the difference between interest rate and APR?
The interest rate is the cost of borrowing; APR adds fees and points, so it is the better figure for comparing loans.
What happens if I make extra payments?
They reduce the principal, shortening the term and cutting total interest.