Base payment
Includes principal and interest. It is the fixed payment calculated from the amount, annual rate and term in months.
Finance
Loan calculator
Estimate monthly payments, total loan cost and how the balance changes over the term.
Main simulation
How much will I pay each month?
Enter the amount, rate, and term. You can add a fee, insurance, or an extra monthly payment.
Rates are illustrative. Check the exact terms with your lender.
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Publicidad
Amortization schedule
See how much of each payment goes to principal, interest, insurance and the outstanding balance. Twelve months are shown per page.
The table will appear after you enter a valid loan.
| Month | Payment | Principal | Interest | Insurance | Outstanding balance |
|---|
What the payment includes
The calculator separates debt-reducing payments from charges that only increase loan cost.
Initial fee
Shown separately because it is assumed to be paid upfront rather than financed in the loan.
Total monthly payment
Adds the base payment, monthly insurance and extra payment. The final payment may be lower if the loan is paid off early.
Calculation example
If you borrow $50,000 for 24 months at 24% annually with a 2% origination fee, the estimated base payment is $2,643.55. You would pay $13,445.32 in interest and a $1,000.00 fee, for an approximate total cost of $64,445.32.
Legal notice
Results are illustrative estimates based on a fixed-payment amortization system. The calculated payment includes principal and interest; insurance, fees, and other charges are shown according to the entered data. Actual terms depend on the financial institution, your credit profile, applicable taxes, and current regulations. This tool is not financial advice or a loan offer.
Frequently asked questions
How is a loan's monthly payment calculated?
The standard amortization formula uses a fixed payment combining principal and interest. The annual rate is divided by 12 and applied to each month's outstanding balance.
What is a loan's annual percentage cost?
It summarizes a loan's annualized cost, including interest, fees and other charges under specific assumptions.
What is the difference between the interest rate and annual percentage cost?
The interest rate measures only the cost of borrowed money. Annual percentage cost aims to reflect approximate total cost, so it can rise when there are fees or insurance.
How can I know the total amount I will pay on a loan?
Add all actual monthly payments, including insurance and extra payments, plus any opening fee.
Is it worth paying off a loan early?
It may be worthwhile if extra payments reduce principal and there are no significant penalties. The table shows potential months and interest saved.
What is loan amortization?
It is the breakdown of every payment into principal, interest, insurance and outstanding balance until payoff.
What happens if I make extra payments?
The extra payment is applied after interest and directly reduces the outstanding balance. This can shorten the term and reduce interest.
Does the calculator include fees and insurance?
Yes. The opening fee is added as an initial cost and monthly insurance is added to each payment based on your entries.