Loan and Mortgage Calculator

Enter the amount borrowed, the annual interest rate and the term in years or months, then pick how the loan is repaid. The summary shows the monthly payment, the total interest paid over the life of the loan and the total amount repaid. The full month-by-month schedule sits below it and can be downloaded as a CSV file for a spreadsheet.

Equal total payment (the annuity method) keeps the monthly payment fixed: early payments are mostly interest, later ones mostly principal. It is what most mortgages use. Equal principal repays the same slice of principal every month, so the payment starts high and falls as interest shrinks; you pay less interest overall but the first months are heavier. Interest-only, or bullet repayment, pays nothing but interest each month and returns the whole principal at the end. It has the lowest monthly cost and the highest total interest.

Interest is calculated monthly as the outstanding balance times the annual rate divided by twelve. Each figure is rounded to the currency precision and the last instalment absorbs any rounding difference so that the balance ends exactly at zero. A rate of 0% works too, which is handy for interest-free instalment plans.

Real loans add costs this calculator does not know about: arrangement fees, guarantee or mortgage insurance, early repayment penalties, variable rates that reset after a fixed period and, for interest-only loans, the question of how the principal will be refinanced. Treat these figures as a way to compare options, not as a quote. No currency is assumed; type amounts in whatever currency you use. Nothing you enter is sent to a server.