Loan Calculator
Calculate your monthly loan payment, total interest paid, and view a complete amortization schedule.
How Loan Interest Works
Most loans use simple amortization: each payment covers the interest accrued that period, with the remainder reducing the principal. Early payments are mostly interest; later payments are mostly principal.
Ways to Pay Off Your Loan Faster
- Make extra principal payments — even $50/month makes a significant difference.
- Pay bi-weekly instead of monthly (26 half-payments = 13 full payments per year).
- Refinance to a lower rate when market conditions improve.
- Round up payments to the nearest $100 for effortless overpayment.