Payment Calculator
Monthly payment is found from loan principal, monthly interest rate, and total number of monthly payments using the fixed-rate amortization equation.
This calculator is free to use. Enable JavaScript to enter your values and see a result instantly.
How it works
Monthly payment is found from loan principal, monthly interest rate, and total number of monthly payments using the fixed-rate amortization equation.
Worked example
Compare loan terms to see the tradeoff between a lower monthly payment and more total interest.
Keep in mind
This estimate excludes lender fees and any variable-rate changes.