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Estimate monthly payments, total interest, and payoff timing for a fixed-rate loan.
Enter your numbers to see the answer.
Loan calculator guide
Estimate monthly payments, total interest, and payoff timing for a fixed-rate loan. This free online calculator is designed for people who need a quick, transparent estimate rather than a black-box answer. Enter loan amount, annual interest rate, loan term, extra monthly payment, origination fee, review the assumptions, and adjust the values to match your project or situation.
This calculator combines loan amount, annual interest rate, loan term, extra monthly payment, origination fee to produce a practical estimate.
For a useful first estimate, start with the sample values already shown in the calculator, then replace them with your own measurements or figures. Keep all dimensions in compatible units and round up where the result represents a quantity you must buy.
Use the result for planning, then confirm taxes, fees, contract terms, and other business-specific assumptions.
How it works
Estimate monthly payments, total interest, and payoff timing for a fixed-rate loan. This tool explains the calculation so you can adjust the assumptions to match your situation.
Loan payment basics
A fixed-rate loan payment usually combines principal and interest. The principal reduces what you owe; interest is the cost of borrowing. A longer term can lower the monthly payment but usually increases total interest. Use the optional extra payment field to see how paying more each month may shorten the payoff time.
The calculator uses the standard amortizing-loan formula with the loan amount, monthly interest rate, and number of monthly payments. It also provides a month-by-month amortization schedule so you can see how each payment is divided.
Common questions
Estimate monthly payments, total interest, and payoff timing for a fixed-rate loan. The page shows the result, a breakdown, and the formula used so you can check the calculation.
You will need loan amount, annual interest rate, loan term, extra monthly payment, origination fee. The labels and units beside each field show what the calculator expects.
Use the result for planning, then confirm taxes, fees, contract terms, and other business-specific assumptions. Accuracy depends on the quality of the inputs and the assumptions used by the underlying formula.