Loan Payment Calculatorv1.0.0
Monthly or quarterly loan payment from the standard amortization formula on principal, annual rate, and term, with monthly or quarterly compounding. Loan fees can be paid upfront or financed into the principal; a one-time prepayment at a chosen period shortens the schedule and reports interest saved. Outputs include payment amount, total number of payments, cumulative payments, total interest, and a period-by-period amortization table.
Documentation
Enter your Loan Amount, annual Interest Rate, and Loan Term in years to compute the payment. Set a Minimum Periodic Payment when you want to test a floor payment. Add optional Loan Fees and choose whether to include fees in financing. Select the Compound Period to match monthly or quarterly terms. Model an early payoff by entering a Prepayment Amount and the Prepayment Period. Click Calculate to update the summary and the amortization schedule. Click Reset to restore defaults and clear local settings.
Plan payments for mortgages, auto loans, student loans, and personal loans with clear comparisons. Compare offers from different lenders by adjusting rate, term, and fees. Test prepayment strategies to shorten the schedule and reduce total interest. Validate affordability by matching the payment to a budget target. Review how monthly versus quarterly compounding affects interest accrual and total cost.
Compare a 30-year mortgage at 6.50% versus a 20-year mortgage at 6.25% using the same principal. Observe how the shorter term increases the payment but lowers total interest. Test a one-time prepayment in month 12 to see the reduction in both interest and total number of payments. Evaluate an auto loan with a 2% origination fee included in financing, then switch to excluding fees to see the difference in total cost. Use the amortization table to identify when principal overtakes interest in each payment.
Use this calculator for fixed-rate loans such as mortgages, auto loans, personal loans, and most student loans. Variable rates are not supported.
Choose monthly if your lender calculates interest monthly. Choose quarterly for products that compound quarterly. Matching the lender rule produces the most accurate totals.
This version supports a single lump-sum prepayment at a chosen period. For recurring extra payments, run scenarios by reducing the term or increasing the minimum payment.
Compute the periodic payment with the standard formula M = P × [r(1 + r)n] ÷ [(1 + r)n − 1], where P is principal, r is the periodic rate, and n is the number of periods. Build the amortization schedule by applying interest to the current balance, subtracting principal, and updating the remaining balance each period. Apply prepayment at the chosen period and recalculate subsequent interest on the reduced balance.
This tool is intended for informational and educational purposes only. It does not provide financial, investment, or tax advice. The amounts and payments shown are estimates and may not reflect actual figures. Results are not guaranteed and may vary based on individual circumstances. Always consult a qualified financial advisor before making any financial decisions.
Inputs, outputs, and what the Loan Payment Calculator computes
The form above accepts the following inputs and produces the outputs listed below. This summary is rendered in the page so the parameters are visible to crawlers, assistive tech, and indexing agents that don't fetch the embedded tool frame.
Inputs
- Loan Amount (text input)
- Interest Rate (% per year) (text input)
- Loan Term (years) (text input)
- Minimum Periodic Payment (text input)
- Loan Fees (text input)
- Compound Period · default: Monthly
- Prepayment Amount (text input)
- Prepayment Period (text input)
- Include Fees in Financing
Controls
Calculate · Reset
Worked example
Enter your Loan Amount , annual Interest Rate , and Loan Term in years to compute the payment.