Loan Payment Calculator
Enter loan amount, annual interest rate, and term to calculate your monthly payment.
Educational information, not professional advice.
Examples
- Borrow $10,000 at 5% for 3 years ⇒ $299.71 per month
- Borrow $250,000 at 4% for 30 years ⇒ $1,193.54 per month
FAQ
What formula does the calculator use?
It applies the standard amortization formula for fixed-rate loans.
Can I factor in extra payments?
No, this simple model doesn't include additional principal payments.
Does it account for taxes or insurance?
Those costs must be added separately if applicable.
Additional Information
- Assumes a fixed rate with equal payments over the full term.
- Payments are calculated at the end of each month and exclude taxes or insurance.