HOME BUYING, EQUITY, AND BORROWING
Loan Payment Calculator
Estimate payment, total amount paid, and total interest for a fixed-rate installment loan.
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Enter your values and select Calculate. Your result stays on this device.
How it works
Monthly payment = P × [r(1 + r)^n] ÷ [(1 + r)^n − 1].
Assumptions
Fixed APR, monthly payments, no origination fee, no prepayment, and no late charges.
Use case
loan payment calculator: a clear planning check
Use the APR, amount, and term from a written lending scenario, then compare the estimate with the lender’s disclosure and fees.
Estimate a fixed monthly payment and compare the monthly amount with total interest before accepting a loan offer.
Method and update
Last reviewed: 2026-08-08. This tool performs the stated formula locally in your browser using the values you enter.
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