Calculator
Loan Payment Calculator
Estimate your monthly payment, total interest, and full amortization for any fixed-rate loan — mortgage, auto, student, or personal.
1. Your inputs
Results update instantly. Everything runs in your browser.
2. Your results
Estimated monthly payment
Primary result$1,896.20/mo
Principal & Interest
$1,896.20
Total interest
$382,633.47
Total paid
$682,633.47
Loan amount
$300,000.00
Term
30 yrs (360 mo)
Payment over time
Total payment breakdown
$682,633
Total
- Principal44%
$300,000
- Interest56%
$382,633
What does this mean?
Get an AI explanation of your results in plain English.
Try this next
Articles that pair with this calculator
In plain English
At 6.5% APR over 30 years, your monthly payment on a $300,000 loan is roughly $1,896.20.
Over the full term you'll pay about $382,633 in interest — that's 56% of every dollar going to the lender instead of your principal.
The two levers that move this number the most are the interest rate and the term length. Drop the rate by 1% or shorten the term by 5 years and try it — the difference is usually surprising.
Assumptions used
The math relies on these assumptions. Real-world numbers can vary.
- Fixed interest rate for the entire loan term.
- Fully-amortizing loan (paid off at term end).
- Monthly payment frequency (12 payments/year).
- No extra principal payments during the loan.
- No origination fees, closing costs, PMI, or taxes.
- Interest compounds monthly at the stated APR ÷ 12.
3. Ask MyMoney AI
One-tap answers powered by your current numbers.
Ask MyMoney AI
Live · Powered by your numbers
Get your Loan Payment Calculator results explained in plain English. Ask follow-up questions, run “what if” scenarios, and understand the trade-offs — no jargon.
4. Compare scenarios
Save the current inputs and compare up to 4 side-by-side.
| Scenario | Amount | Rate | Term | Monthly | Total interest | Total paid | Action |
|---|---|---|---|---|---|---|---|
| Scenario 1 (default) Active | $300,000 | 6.50% | 30 yrs | $1,896.20 | $382,633 | $682,633 |
Related calculators
More money math you might want to run.
Debt Snowball Calculator
Plan a payoff strategy across multiple debts and see your debt-free date.
Compound Interest Calculator
See how consistent deposits and time turn small savings into long-term wealth.
Net Worth Calculator
Snapshot your true financial position — assets minus liabilities.
Download & Share
Frequently asked
How is my monthly payment calculated?
We use the standard fixed-rate amortization formula: M = P × r / (1 − (1 + r)^-n), where P is the loan amount, r is the monthly interest rate, and n is the total number of monthly payments.
Does this include taxes and insurance?
This calculator returns principal + interest only. For a full mortgage picture including property tax, homeowners insurance, and PMI, use our dedicated Mortgage Calculator.
Can I add extra payments?
The comparison table lets you save multiple scenarios with different amounts, rates, and terms. Dedicated 'extra payment' modeling is on the roadmap.
Is my data stored?
No. All calculations run in your browser. Nothing you type is transmitted or saved on our servers.
Can I use this for auto or student loans?
Yes. The math is identical for any fixed-rate, fully-amortizing loan — mortgage, auto, student, or personal.
About the Loan Payment Calculator
This calculator estimates your monthly payment on any fixed-rate, fully-amortizing loan — mortgages, auto loans, student loans, and personal loans all use the same underlying math.
Two levers move the number the most: the interest rate and the term length. A smaller shift in either has an outsized long-term impact once compounding kicks in.
Use the scenario comparison to save different combinations of amount, rate, and term side-by-side — it's the fastest way to see which trade-offs actually save you real money.
Newsletter
Get smarter with your money — every week.
One useful email per week. No spam.
These calculators are for education only and are not a substitute for personalized advice from a licensed professional. Read our full disclaimer.