Loan Calculator

A loan calculator gives you the one number that matters most before you borrow: the monthly payment. Type in the loan amount, the annual interest rate (APR) your lender quoted, and the term in years, and the tool applies the standard amortization formula to show what you would pay each month, plus the total interest and the full amount repaid over the life of the loan. Everything updates live as you adjust the inputs, so you can compare offers side by side in seconds.

The year-by-year balance chart shows where your money actually goes. In the early years, most of each payment covers interest while the balance barely moves; later, more of each payment attacks the principal. This is why a shorter term or a lower rate saves so much: less time accruing interest means a smaller total cost, even when the monthly payment is only slightly higher.