Loan Calculator - Monthly Payment & Amortization Schedule
Calculate periodic loan payments, interest costs, and export full amortization schedules.
Direct Overview & Capability:Numvax Loan Calculator calculates periodic mortgage and loan payments across USD, EUR, GBP, CAD, AUD, and other currencies. It visualizes principal vs interest split ratios and exports full payment amortization schedules as CSV.
About the Loan Calculator - Monthly Payment & Amortization Schedule
Calculates periodic principal and interest repayments for fixed-rate personal loans, auto loans, and mortgages using standard financial amortization math.
What Can You Use This Calculator For?
Use this financial calculator to estimate monthly mortgage payments, compare auto loan financing offers, analyze total interest cost between 15-year vs 30-year terms, and export detailed payment schedules.
Standard Fixed-Rate Amortization Formula
Monthly Payment (PMT) = P × [r(1 + r)ⁿ] / [(1 + r)ⁿ - 1]
Where:
P = Principal Loan Amount
r = Periodic Monthly Interest Rate (Annual Rate / 12)
n = Total Number of Monthly Payment Periods (Years × 12)
Worked Step-by-Step Examples
$250,000 Mortgage at 6.5% Annual Interest for 30 Years (360 Months)
Principal (P) = $250,000 Monthly Rate (r) = 0.065 / 12 = 0.0054167 Total Months (n) = 360 PMT = 250,000 × [0.0054167(1.0054167)³⁶⁰] / [(1.0054167)³⁶⁰ - 1] = $1,580.17 / month Total Interest Paid over 30 Years: $318,861.20
Frequently Asked Questions
How does loan amortization work?
Amortization is the process of spreading loan payments over time. In early loan months, the majority of your payment goes towards interest. Over time, an increasing percentage pays down the principal balance.
How do extra monthly payments affect my total loan cost?
Making extra principal payments directly reduces the remaining loan balance, cutting total interest expenses and shortening the total repayment term significantly.
What is the difference between APR and interest rate?
The interest rate is the base cost of borrowing the principal balance. APR (Annual Percentage Rate) includes the interest rate plus additional lender fees, origination charges, and closing costs.
Can I export the loan amortization schedule to Excel or CSV?
Yes! Click the "Export CSV" button in the results panel to download the full monthly breakdown including beginning balance, principal paid, interest paid, and remaining balance.
How do I calculate total interest paid over the life of a loan?
Multiply your monthly payment amount by the total number of payments, then subtract the original principal amount: Total Interest = (Monthly Payment × Total Months) - Principal.
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