ToolFinch

Finance

Loan Calculator

See your monthly payment, how much interest you will pay over the life of the loan, and a month-by-month amortization table. All calculations run in your browser.

Monthly payment

$1,073.64

52%
Principal$200,000
Interest$186,512

Total paid$386,512
Share toward interest48.3%

Amortization schedule

360 monthly payments
MonthPrincipalInterestBalance
1$240.31$833.33$199,759.69
2$241.31$832.33$199,518.38
3$242.32$831.33$199,276.06
4$243.33$830.32$199,032.74
5$244.34$829.30$198,788.40
6$245.36$828.28$198,543.04
7$246.38$827.26$198,296.66
8$247.41$826.24$198,049.25
9$248.44$825.21$197,800.81
10$249.47$824.17$197,551.34
11$250.51$823.13$197,300.83
12$251.56$822.09$197,049.27

Disclaimer: This calculator provides estimates for informational purposes only. It does not account for taxes, fees, insurance, or other charges that may apply to your actual loan. Consult a licensed financial advisor before making borrowing decisions.

Frequently asked questions

How is my monthly payment calculated?+

The tool uses the standard fixed-rate amortization formula: M = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the total number of monthly payments.

What is an amortization schedule?+

It is a month-by-month breakdown of each payment into principal and interest. Early on most of the payment goes to interest; over time the share flips toward principal.

Does this handle variable or adjustable-rate loans?+

No. This calculator assumes a fixed interest rate for the entire term. For an ARM you would need to recalculate whenever the rate adjusts.

Can I see every month in the schedule?+

Yes. The table starts collapsed to the first 12 months. Press "Show all months" to reveal the full schedule through the final payment.

How accurate are these numbers?+

The math follows the standard amortization formula and is accurate for a fixed-rate loan with interest compounded monthly. Real loans often include origination fees, property tax escrow, insurance and more that this tool does not model — treat the output as a baseline estimate.

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