Finance calculator
Loan payment calculator
Find the payment per period on a fixed-rate amortizing loan. Enter principal, annual interest as a percent, and term in years (monthly payments).
Inputs
Enter valid numbers. Calculations run entirely in your browser.
Nominal annual rate, e.g. 6.5 for 6.5%.
Full repayment period.
Results
Monthly payment
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Total paid
—
Total interest
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Example
Principal 240,000 at 6.5% for 30 years: payment is about 1,517 per month before taxes or insurance.
Explanation
Payment M = P × [r(1+r)^n] / [(1+r)^n − 1] with r = annual rate divided by 12 and n = years × 12.
FAQ
Does this include escrow or insurance?
No. It is principal and interest only, consistent with standard amortization calculators.
What if my loan uses biweekly payments?
This tool assumes monthly payments. Biweekly schedules pay slightly less interest over time.