How to Use This Loan Calculator
Our free loan calculator helps you determine your monthly payments for any loan amount, interest rate, and term length. Simply enter your loan details above and click "Calculate" to see your payment breakdown.
Understanding Your Loan Payment
Your monthly loan payment consists of two parts: principal (the amount you borrowed) and interest (the cost of borrowing). This calculator uses the standard amortization formula to give you accurate payment estimates.
Tips for Getting the Best Loan Rate
- Check your credit score before applying
- Compare rates from multiple lenders
- Consider a shorter loan term to save on interest
- Make a larger down payment if possible
Common Loan Amounts
Calculate payments for popular loan amounts: