Click here or scroll down to see many more loan calculators!

Mortgage / Loan Calculator

Enter the three (3) known fields,
then press the button under the field to calculate.
# of
Interest Rate

(Principal & Interest)
$ % $
You'll pay a total of $over the life of this loan.
First Payment Due
View simple schedule.
View detailed schedule.
View schedule with year-end annual totals only.

Note: To view the schedule, all input fields must contain a value.

  • Most loans (mortgage and other) in the United States compound interest monthly.

  1. If you want to calculate how much a mortgage payment will be on a $200,000 mortgage at 5.00% interest for 360 months, you would enter:
    • 200,000 for Principal Value
    • 360 for Months
    • 5 for Interest Rate (Compounded Monthly)
    • Press the Payment button, and you'll see that your payment would be $1,073.64.

    Note: If you look down the amortization schedule, you'll see the final payment is $ 1,076.47. Some lenders don't like the final payment to be greater than the regular payment so they'll add a penny to the regular payment. You can do this on this calculator simply by adding a penny to the payment and solving for "Months". The # of months won't change much, if at all. Now you can view the schedule again to see the difference it makes. In this case, you'll make 359 full payments of $1,073.65 and a final payment of $ 1,068.30.

  2. Using the example above, let's say you can make extra monthly principal payments and you would like to round your payment up to $1,200/month. How long will it take to pay off your mortgage?
    • Leave everything the same, just enter 1200 for Payment and press Months.
    • It will take only 286 months to pay off your mortgage! (285 full payments of $1,200 and a final partial payment of $170.76.
    • So, paying that extra $126.36/month will save you a little more than 6 years of payments, and about $44,342 interest!

  3. Suppose you want to buy a car, but you don't want to spend more than $250/month for payments. You can get a 4 year car loan at 3.9%. How much of a car can you buy? You would enter:
    • 48 for Months
    • 3.9 for Interest Rate (compounded Monthly)
    • 250 for Monthly Payment
    • Press the Principal button, and you will see that you could buy a $11,094.18 car with no down payment -or put more money down on a more expensive car.

Miscellaneous Loan Calculators

These calculators deal with many different loan situations. You'll probably never need any of them, but in case you're looking for something specific, and possibly uncommon, I've included these.
(Some were created years ago, so the schedule may be different.)

Loan Calculator with Extra Payment Options
This is very similar to my regular loan calculator. However, instead of just being able to input extra monthly payments, you have the option to input extra quarterly, semiannual, annual or one time only payments -- and print out an amortization schedule.

Balloon Payment Calculator
With this balloon payment calculator you can get the monthly and balloon payment or just the balloon payment itself. It's also useful as a payoff calculator.

Weekly Payment Loan Calculator
...Pretty self explanatory...

Quarterly Payment Loan Calculator
...Pretty self explanatory...

Semi-annual Payment Loan Calculator
...Pretty self explanatory...

Annual Payment Loan Calculator
...Pretty self explanatory...

Fixed Principal Payment Loan Calculator
This Loan Calculator deals with a fixed principal payment and varying interest payment. Therefore, the payment is different (and decreases) each month. You can input 0 for the payment and fill in the rest of the fields and get a schedule of interest only payments.

3/1 ARM Calculator
The rate is fixed for a period of 3 years after which it becomes adjustable.
I've never been a big ARM (Adjustable Rate Mortgage) fan. However, I do appreciate their use - especially for those who are planning to move, refinance, or payoff their loan in a few years. This calculator can help you see the impact of an adjustable rate mortgage over the years. It's more of a planning calculator. Obviously, you don't know where rates are going to be in the future. My suggestion is to input the worst case scenario for your ARM.

5/1 ARM Calculator
The rate is fixed for a period of 5 years after which it becomes adjustable.
See explanation for 3/1 ARM above...

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