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LOADMOREMONEY · MARKETS · ANALYSIS
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Loan payment calculator

Compare scheduled loan payments, upfront fees and extra principal. Inspect the full payoff schedule, interest saved and months saved.

01 / Your scenario

Set the assumptions

Amounts in USD. These example inputs are editable, not recommendations.

A constant scenario input, not a current quoted rate.

Whole years; monthly periods in savings and loan models.

Paid at the start; not added to principal. Include origination fees here, not taxes or insurance.

Added to the scheduled payment until payoff. Check that your lender allows penalty-free extra principal.

Reset example

No account required. The tool processes your submitted inputs for this calculation and does not save them to a user profile.

02 / The result

Your scenario, calculated

Showing the editable example above. Modeled values, not a forecast.

Monthly principal & interest
396.02USD
Total interest
3,761.44USD
Total payments
23,761.44USD
Repayment period
60months
Interest plus upfront fees
3,761.44USD
Total cash paid including fees
23,761.44USD
Interest saved versus no extra payment
0.00USD
Months saved
0months
View the chart & data

Use the answer for a real decision

The scheduled monthly principal-and-interest payment is USD 396.02. Extra principal, if entered, is paid on top. The schedule ends after 60 payments; the last payment may be smaller. Compare interest plus upfront fees, not just the quoted payment. Confirm lender rules, required insurance and any prepayment penalty before acting.

Before interpreting the result

What this model includes

Fixed nominal annual interest with monthly accrual and end-of-month payments. The scheduled payment covers principal and interest. Optional fees are paid separately at the start, not financed. Optional extra payments reduce principal each month; no prepayment penalty is assumed. Taxes, insurance and escrow are excluded; the entered rate is not a fee-inclusive APR. Calculations retain internal precision; lenders may round each period differently.

Formula & method

Payment = P × r / [1 − (1 + r)^(−n)], where r is the nominal annual rate / 12 and n is the number of monthly payments. At zero interest, payment = P / n.

Background reading: CFPB: how paying down a mortgage works. These references explain the concepts; they do not endorse this calculator.

03 / Visual evidence

The scenario over time

Vertical scale: USD. Horizontal scale: Year. Lines join the calculated points; no probability is implied.

  • Remaining principal
0.0010.0k20.0kRemaining principalRemaining principal: 20,000.00 USD at Year 0Remaining principal: 0.00 USD at Year 505

Shared value scale; zero is included. These are modeled scenarios using your assumptions, not observed market data. The table provides every plotted value.

Scenario data

USD amounts are displayed to two decimal places. Calculations use unrounded internal values. Scroll across a wide table on smaller screens.

Scenario data · hypothetical inputs
YearRemaining principal (USD)Cumulative payments (USD)Cumulative interest (USD)
020,000.000.000.00
116,538.044,752.291,290.33
212,825.829,504.582,330.39
38,845.2314,256.863,102.10
44,576.9019,009.153,586.05
50.0023,761.443,761.44
Full monthly amortization schedule · 60 payments

Monthly amortization

USD amounts are displayed to two decimal places. Calculations use unrounded internal values. Scroll across a wide table on smaller screens.

Monthly amortization · hypothetical inputs
MonthOpening principal (USD)Payment (USD)Interest (USD)Principal repaid (USD)Closing principal (USD)
120,000.00396.02116.67279.3619,720.64
219,720.64396.02115.04280.9919,439.66
319,439.66396.02113.40282.6319,157.03
419,157.03396.02111.75284.2718,872.76
518,872.76396.02110.09285.9318,586.82
618,586.82396.02108.42287.6018,299.22
718,299.22396.02106.75289.2818,009.94
818,009.94396.02105.06290.9717,718.98
917,718.98396.02103.36292.6617,426.31
1017,426.31396.02101.65294.3717,131.94
1117,131.94396.0299.94296.0916,835.86
1216,835.86396.0298.21297.8116,538.04
1316,538.04396.0296.47299.5516,238.49
1416,238.49396.0294.72301.3015,937.19
1515,937.19396.0292.97303.0615,634.13
1615,634.13396.0291.20304.8215,329.31
1715,329.31396.0289.42306.6015,022.70
1815,022.70396.0287.63308.3914,714.31
1914,714.31396.0285.83310.1914,404.12
2014,404.12396.0284.02312.0014,092.12
2114,092.12396.0282.20313.8213,778.30
2213,778.30396.0280.37315.6513,462.65
2313,462.65396.0278.53317.4913,145.16
2413,145.16396.0276.68319.3412,825.82
2512,825.82396.0274.82321.2112,504.61
2612,504.61396.0272.94323.0812,181.53
2712,181.53396.0271.06324.9711,856.56
2811,856.56396.0269.16326.8611,529.70
2911,529.70396.0267.26328.7711,200.94
3011,200.94396.0265.34330.6910,870.25
3110,870.25396.0263.41332.6110,537.64
3210,537.64396.0261.47334.5510,203.08
3310,203.08396.0259.52336.519,866.58
349,866.58396.0257.56338.479,528.11
359,528.11396.0255.58340.449,187.66
369,187.66396.0253.59342.438,845.23
378,845.23396.0251.60344.438,500.81
388,500.81396.0249.59346.448,154.37
398,154.37396.0247.57348.467,805.92
407,805.92396.0245.53350.497,455.43
417,455.43396.0243.49352.537,102.89
427,102.89396.0241.43354.596,748.30
436,748.30396.0239.37356.666,391.64
446,391.64396.0237.28358.746,032.90
456,032.90396.0235.19360.835,672.07
465,672.07396.0233.09362.945,309.13
475,309.13396.0230.97365.054,944.08
484,944.08396.0228.84367.184,576.90
494,576.90396.0226.70369.334,207.57
504,207.57396.0224.54371.483,836.09
513,836.09396.0222.38373.653,462.44
523,462.44396.0220.20375.833,086.62
533,086.62396.0218.01378.022,708.60
542,708.60396.0215.80380.222,328.38
552,328.38396.0213.58382.441,945.93
561,945.93396.0211.35384.671,561.26
571,561.26396.029.11386.921,174.34
581,174.34396.026.85389.17785.17
59785.17396.024.58391.44393.73
60393.73396.022.30393.730.00

Try another perspective

Change one assumption at a time, then compare the result. A scenario is a way to examine a decision, not a promise of an outcome.

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