Monthly Loan Payment Calculator
Enter the loan details to see a clear monthly payment estimate. This works for personal loans, auto loans, and other fixed-rate installment loans.
Your details
Your entries stay in your browser and are not submitted or stored. A share link stores the values in its URL.
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Projection
How the result changes over time
What-if scenario
A small monthly improvement
Milestones
Your projection checkpoints
A compact view of how the estimate develops. Values update with every input.
Calculator documentation
How to use the loan payment calculator
This section explains every input and interactive feature used in the calculator above.
Field-by-field guide
- Loan amount
- The principal you plan to borrow. Exclude your down payment, but include any costs rolled into the loan.
- Annual interest rate
- The fixed annual interest rate. For the closest comparison, use the lender’s disclosed APR when fees are reflected in it.
- Loan term
- The original repayment period. A longer term usually lowers the payment and raises total interest.
- Extra monthly payment
- An optional amount paid above the required payment each month. It is applied directly to principal in this estimate.
- Upfront fees
- Origination and other costs paid upfront. These affect the all-in cost but are not financed or included in the payment.
Calculation workflow
- 1Enter the amount you will borrow, not the purchase price.
- 2Use the lender’s APR for the closest estimate.
- 3Add an optional extra payment to see the time and interest it could save.
Planning tips
- ✓Compare the total interest, not only the monthly payment.
- ✓Confirm whether extra payments go directly to principal.
- ✓Keep fees and any prepayment penalty in your comparison.
Features and outputs
Live results
Every edit recalculates the headline and supporting metrics immediately.
Projection chart
Balance mode shows change over time; breakdown mode compares the components of the result.
What-if scenario
A calculator-specific improvement is modeled beside the current plan.
Milestone table
Selected checkpoints expose the projection behind the summary.
Share link
Copy share link encodes current inputs in the URL without sending them to a server.
Reset values
Restores all fields to the page defaults and clears shared URL values.
Frequently asked questions
What is included in the payment?+
The estimate includes principal and interest for a fixed-rate amortizing loan. Insurance, taxes, and lender fees are separate.
Why does a longer term cost more?+
A longer term lowers the required payment but leaves the balance accruing interest for more months.
How are extra payments handled?+
The calculator applies the same extra amount to principal every month and estimates an earlier payoff.