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EV-T06Standalone tool

Loan payment calculator

Estimate fixed monthly principal-and-interest payments, total repayment, and total interest.

EV-T06

Estimate a fixed loan payment.

Model principal and interest only. This educational estimate is not lending or financial advice.

Formula and assumptions: Standard fixed-rate amortization with monthly payments. Taxes, insurance, fees, changing rates, and lender-specific rounding are excluded.

READYEnter a scenario, then calculate.
Method reference: CFPB loan estimate resources ↗

COMMON WAYS TO ASK

QUICK ANSWER

What this calculator tells you.

This is a fixed-rate principal-and-interest estimate. It shows how amount, annual rate, and term affect the monthly payment and total interest, but it does not quote or approve a loan.

WORKED EXAMPLE

$20,000 at 6% for five years

INPUT$20,000 · 6% APR · 60 months
RESULTAbout $386.66 per month before fees
CHECK THE EDGE CASES

Questions people ask next.

Does the payment include taxes, insurance, or lender fees?

No. It models principal and interest only. A real payment can include origination fees, insurance, taxes, escrow, or other charges.

Is APR always the same as the interest rate?

Not necessarily. APR can incorporate certain fees and may differ from the note rate used in an amortization formula. Use the exact rate specified for the payment calculation.

CONTINUE CALCULATING

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