💰 Loan Calculator

Comprehensive loan calculation tool offering payment analysis, amortization schedules, interest cost analysis, and loan comparison features for informed financial decisions and optimal loan planning.

Enter the total amount you want to borrow
Enter the annual percentage rate (APR) for your loan
Enter the number of years to repay the loan
What type of loan are you calculating?
Optional additional payment each month to pay off loan faster
When does the loan begin? (used for amortization schedule)
Generate detailed payment-by-payment breakdown
Analyze the impact of additional payments on loan payoff
How many decimal places to show in results?

Loan Analysis Results:

💰 Loan Payment Analysis

$1,687
Monthly Payment
Principal & Interest
Total Interest:
$107,376
Total Cost:
$357,376

📊 Loan Details Breakdown

Loan Amount: $250,000
Interest Rate: 6.5% APR
Loan Term: 30 years
First Payment: February 2025
Final Payment: January 2055
Total Payments: 360

📈 First Year Payment Breakdown

Payment 1: $1,354 Interest + $333 Principal
Payment 6: $1,345 Interest + $342 Principal
Payment 12: $1,335 Interest + $352 Principal

💡 Extra Payment Impact

  • Extra $200/month: Save $67,234 interest, pay off 7.5 years early
  • Extra $500/month: Save $126,891 interest, pay off 13.2 years early
  • Bi-weekly payments: Save $58,927 interest, pay off 6.1 years early

💡 Financial Planning Tip: This 30-year mortgage costs $107,376 in total interest. Even small extra payments can save tens of thousands. Consider refinancing if rates drop significantly below 6.5%.

How to Use This Loan Calculator

How to Use the Loan Calculator:

  1. Enter the loan principal amount (the amount you want to borrow)
  2. Input the annual interest rate (APR) for your loan
  3. Select the loan term (number of years to repay the loan)
  4. Choose your loan type and calculation preferences
  5. Click "Calculate Loan Payments" to analyze your financing options
  6. Review detailed payment breakdown, amortization schedule, and total costs

Financial Tips: Lower interest rates and shorter terms reduce total interest costs. Consider extra payments to pay off loans faster and save thousands in interest!

How It Works

Advanced Loan Calculation Technology:

Our calculator uses proven financial formulas for accurate loan analysis:

  1. Payment Calculation: Uses the standard loan payment formula M = P[r(1+r)^n]/[(1+r)^n-1]
  2. Amortization Analysis: Calculates principal and interest breakdown for each payment
  3. Total Cost Analysis: Computes total interest paid over the life of the loan
  4. Comparison Tools: Enables side-by-side loan option analysis for optimal decisions

Professional Features:

  • Complete amortization schedules with payment-by-payment breakdowns
  • Extra payment analysis showing time and interest savings potential
  • Loan comparison tools for evaluating multiple financing options
  • Detailed financial insights with payment timing and cost optimization strategies

When You Might Need This

Frequently Asked Questions