How It Works

This calculator uses the standard amortization formula to compute your monthly payment: P = L[r(1+r)^n]/[(1+r)^n-1], where L is the loan amount, r is the monthly interest rate, and n is the number of payments.

Practical tip: Enter your actual loan offer numbers — including the origination fee percentage — to see your effective APR. Banks often quote the nominal rate, but fees push the real cost higher. Use the extra payment field to see how even $20/month can shave months off your term.

Privacy note: All calculations happen in your browser. Nothing is sent to our servers.

Loan Payment Calculator

Calculation History

How It Works

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