How to use this calculator
- Enter the loan amount and annual interest rate.
- Set the term in years.
- Read the monthly payment, total repayment and interest.
Example
A $200,000 loan at 5% over 30 years has a monthly payment of about $1,073.64.
How it works
Payments use the standard amortization formula, assuming equal monthly payments over the full term.
Frequently asked questions
Does this include taxes or insurance?
No. This is principal and interest only. Property tax, insurance and fees are additional.
What if the rate is zero?
With a zero rate the payment is simply the loan amount divided by the number of months.