Loan Amortization Calculator – Quick & Accurate Mortgage Planning
Use our free, web‑based Loan Amortization Calculator to instantly see how much you’ll pay each month, how much interest you’ll owe over the life of a loan, and how the loan balance will shrink over time. The tool is ideal for mortgages, car loans, student loans, or any fixed‑rate debt.
How It Works
- Enter Your Loan Details
- Loan amount ($): Total principal you’re borrowing (e.g., 10,000).
- Annual interest (%): Fixed interest rate (e.g., 5).
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Term (years): Length of the loan (e.g., 5).
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Click “Calculate”
- The calculator displays the monthly payment in the read‑only field.
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A concise amortization table (first 5 payments) shows:
- Month number
- Total payment
- Interest portion
- Principal portion
- Remaining balance
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Visualize the Balance
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A line chart plots the loan balance for the first 5 months, helping you grasp how quickly principal is paid down.
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Share Your Results
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Hit the X (𝕏) button to tweet the monthly payment and a link to the calculator.
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Copy to Clipboard
- Click the payment amount to copy it for use in budgeting tools or spreadsheets.
Key Definitions
- Amortization – The process of paying off debt over time through regular payments that cover both interest and principal.
- Principal – The original loan amount; the portion of each payment that reduces the debt.
- Interest – The cost of borrowing; the portion of each payment that goes to the lender.
- Monthly Payment – Fixed amount paid each month; calculated so the loan is fully repaid by the end of the term.
- Balance – Remaining principal after each payment.
Use Cases
- Mortgage Planning – Estimate monthly payments and compare different loan terms or interest rates.
- Car Loan Budgeting – See how long it will take to pay off a vehicle loan and how much interest you’ll pay.
- Student Loan Forecasting – Understand repayment schedules for fixed‑rate student loans.
- Personal Finance – Evaluate the impact of extra payments or refinancing on your loan balance.
Why This Calculator Is Helpful
- Instant Results – No spreadsheets or manual calculations needed.
- Clear Visualization – Table and chart make complex amortization easy to understand.
- Shareable Insights – Quickly share your monthly payment on X or copy it for personal records.
- Free & Ad‑Supported – No signup required; enjoy a clean, ad‑free experience with optional banner ads.
Start planning today: input your loan details, click “Calculate,” and view your monthly payment, amortization schedule, and balance chart—all in seconds. Use the share button to post your results on X, or copy the payment to incorporate into your budgeting spreadsheet.