Loan Payment Calculator
Calculate monthly payment, total interest, and an amortization schedule
- Monthly payment
- $506,685
- Total paid
- $182,406,712
- Total interest
- $82,406,712
Amortization schedule
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $1,613,227 | $4,466,997 | $98,386,773 |
| 2 | $1,687,338 | $4,392,886 | $96,699,435 |
| 3 | $1,764,854 | $4,315,370 | $94,934,581 |
| 4 | $1,845,931 | $4,234,293 | $93,088,650 |
| 5 | $1,930,733 | $4,149,491 | $91,157,917 |
| 6 | $2,019,430 | $4,060,793 | $89,138,487 |
| 7 | $2,112,203 | $3,968,021 | $87,026,284 |
| 8 | $2,209,237 | $3,870,987 | $84,817,047 |
| 9 | $2,310,729 | $3,769,495 | $82,506,318 |
| 10 | $2,416,883 | $3,663,340 | $80,089,435 |
| 11 | $2,527,915 | $3,552,309 | $77,561,520 |
| 12 | $2,644,047 | $3,436,177 | $74,917,474 |
| 13 | $2,765,514 | $3,314,710 | $72,151,960 |
| 14 | $2,892,561 | $3,187,663 | $69,259,399 |
| 15 | $3,025,445 | $3,054,779 | $66,233,955 |
| 16 | $3,164,433 | $2,915,791 | $63,069,522 |
| 17 | $3,309,806 | $2,770,417 | $59,759,716 |
| 18 | $3,461,858 | $2,618,365 | $56,297,857 |
| 19 | $3,620,895 | $2,459,328 | $52,676,962 |
| 20 | $3,787,239 | $2,292,985 | $48,889,723 |
| 21 | $3,961,224 | $2,119,000 | $44,928,499 |
| 22 | $4,143,202 | $1,937,022 | $40,785,297 |
| 23 | $4,333,540 | $1,746,684 | $36,451,758 |
| 24 | $4,532,622 | $1,547,602 | $31,919,136 |
| 25 | $4,740,850 | $1,339,374 | $27,178,286 |
| 26 | $4,958,643 | $1,121,580 | $22,219,643 |
| 27 | $5,186,443 | $893,781 | $17,033,200 |
| 28 | $5,424,707 | $655,517 | $11,608,493 |
| 29 | $5,673,917 | $406,307 | $5,934,576 |
| 30 | $5,934,576 | $145,648 | $0 |
About this tool
Enter the loan amount, annual interest rate, and term to see the fixed monthly payment, total interest, and a year-by-year amortization schedule (principal vs interest vs remaining balance). Works for mortgages, auto loans, student loans, or any standard fixed-rate amortizing loan. Everything runs in your browser.
How to use
- Enter the loan amount and the annual interest rate (%).
- Enter the term in years or months — switch units with the dropdown.
- Read the monthly payment and total interest, then scan the year-by-year amortization schedule below.
FAQ
What loan structure does this assume?
Standard fixed-rate amortizing loan — the same monthly payment every month, with the interest portion shrinking and the principal portion growing over time. This is how most mortgages, auto loans, and student loans are structured.
Does a 30-year term really cost more interest than 20-year?
Yes — the monthly payment is lower, but the total interest paid is much higher. On a $200k loan at 5%, a 20-year term costs ~$117k in interest vs ~$187k for a 30-year term. Lower monthly cost vs higher lifetime cost is the trade-off.
Can I model a variable-rate (ARM) loan with this?
Not exactly — variable rates change over time, which a single fixed simulation can't capture. Use this as the 'if the current rate held constant' baseline, then re-run with realistic future rate scenarios.
Are prepayment penalties or extra payments included?
No. The schedule assumes you pay exactly the contractual amount every month with no early payoff. If your loan has prepayment penalties or you plan to overpay, factor those in separately.