Loan Payment Calculator
Monthly payments and amortization schedule
Did you know that making just one extra payment per year can reduce a 30-year loan to 26 years and save thousands in interest?
Amortization Schedule
| Month | Payment | Principal | Interest | Balance |
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How to Use This Loan Calculator
Our loan payment calculator helps you understand your loan payments and see how much interest you'll pay over the life of the loan.
1. Enter Your Loan Details
Input the total loan amount, down payment (if any), annual interest rate, and the loan term in months.
2. View Your Monthly Payment
The calculator shows your fixed monthly payment amount, which includes both principal and interest.
3. Review the Amortization Schedule
See a detailed month-by-month breakdown showing how much of each payment goes toward principal vs. interest, and your remaining balance.
Understanding Loan Amortization
With each payment, more goes toward principal and less toward interest. Early payments are mostly interest, while later payments are mostly principal.