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Loans

Loan monthly payment

Estimate a fixed monthly payment for a fully amortizing loan — principal, rate, and term.

Loan details

Principal you borrow — the starting balance before interest. Does not include fees rolled into the loan unless you add them here.
$
Fixed annual percentage rate used for principal and interest. This model does not add origination fees or variable-rate adjustments.
%
Length of the loan. Longer terms usually lower the monthly payment but increase total interest paid.
Common termsQuick presets for typical personal, auto, or mortgage-style fixed terms. You can still type a custom term above.

Estimated monthly payment

$1,580

$250,000 at 6.5% over 30 years

Breakdown
Total interest$318,861
Total paid$568,861
Number of payments360
Payoff timeline30 years
Principal$250,000
Frequently asked questions

Read how loan payments work

How is the monthly loan payment calculated?

For a fixed-rate amortizing loan, the payment is set so principal and interest are paid off over the term. Enter loan amount, annual interest rate (APR), and term (years). The formula uses principal, monthly rate (APR ÷ 12), and number of monthly payments.

Does this work for mortgages?

For principal and interest only, yes. For home purchase payments with taxes, insurance, and PMI, use the Mortgage Payment Calculator instead.

What is total interest?

Total interest is what you pay beyond the original principal if you make every scheduled payment for the full term with no extra payments or refinancing. Shorter terms usually raise the monthly payment but lower total interest.

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