Smart Mortgage & Loan Calculator (Free, Instant & Accurate)
Use this powerful calculator to estimate your monthly payments, total interest, and overall loan cost — whether you’re financing a home, car, or personal loan. Simply enter your loan amount, annual interest rate, and loan term, then click Calculate to see your complete payment breakdown and amortization schedule in seconds.
Ideal for users worldwide — supports any currency and interest rate format. Plan your financial future confidently and visualize how much you’ll actually pay over time.
Loan Details
Enter your loan information to get started.
Your Loan Summary
Here's a breakdown of your estimated loan payments.
Your results will be displayed here.
How This Loan Calculator Works
Our calculator uses the standard amortization formula to determine your monthly payment and total cost.
Formula used:
- M = Monthly payment
- P = Principal loan amount
- r = Monthly interest rate (annual rate ÷ 12)
- n = Number of payments (years × 12)
This formula ensures accurate calculations for both fixed-rate mortgages and auto/personal loans.
Key Features
Example Calculation
Suppose you borrow $300,000 for 30 years at 6.5% interest.
- Monthly payment: $1,896.23
- Total interest paid: $382,642.82
- Total cost after 30 years: $682,642.82
This gives you a clear picture of how interest impacts your long-term cost.
Tips to Lower Your Loan Cost
- Increase Your Down Payment: Borrow less, pay less interest.
- Compare Lenders: Even a 0.5% lower rate can save thousands.
- Pay Extra Each Month: Reduces principal and shortens the loan term.
- Avoid Late Payments: Prevent extra fees and credit damage.
- Refinance When Rates Drop: Lock in lower rates if the market improves.
Why Use This Mortgage & Loan Calculator
- Saves time by avoiding manual calculations.
- Helps visualize your long-term financial commitments.
- Perfect for home buyers, car buyers, or anyone planning a big purchase.
- Free, accurate, and accessible from any device worldwide.
Frequently Asked Questions
Want to explore more? ➜ Try our Global CGPA Calculator, GPA Converter, or CGPA to Percentage Tool — all linked on the right side for quick access.