Loan Calculator
Estimate your monthly loan payments.
How to Use the Free Online Mortgage Calculator
Input the total amount of the loan or mortgage you are considering.
Enter the annual interest rate for the loan.
Use the slider to set the length of the loan in years (e.g., 15, 30).
The calculator will instantly display your estimated monthly payment, the total amount you'll pay over the life of the loan, and the total interest paid. This online tool is completely free.
Frequently Asked Questions
Does this calculator include taxes and insurance (PITI)?
No, this is a simple loan calculator that only calculates principal and interest. It does not include property taxes, homeowner's insurance, or private mortgage insurance (PMI). Your actual monthly mortgage payment will likely be higher.
Is this loan calculator free to use?
Yes, this online mortgage and loan calculator is 100% free to use. You can experiment with different numbers as much as you like.
Can I use this for car loans or personal loans?
Absolutely. While it's often used as a mortgage calculator, the underlying formula works for any standard amortizing loan, including car loans, personal loans, or student loans.