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Loan Calculator

Loan Payment Calculator works out Payment and Total interest from Loan amount, Annual interest rate and Loan term. The default figures on this page give payment of 158.02; change any entry and the result, the working and the sources update together.

Payment

158.02

Loan Payment Calculator

Total interest

31,883.81

Total of payments

56,883.81

Number of payments

360

Payoff time

30 years

Rate per period

0.541667 %

Interest per unit borrowed

1.2754

Interest saved by extra payments

Payments saved

Loan amount

25,000.00

Annual interest rate

6.5 %

Months to repay

360

Fees deducted at closing

0.00

Net amount advanced

25,000.00

APR

6.5 %

Worked out from Standard annuity-immediate payment formula, PMT = P i / (1 - (1+i)^-n) and 4 other sources.

Your figures

Updates as you type

Display currencyFormatting only. This does not change the calculation.

Loan amount

Annual interest rate (%)The nominal annual rate (APR before fees), not the monthly rate.

Loan term (years)

Term - additional monthsAdded to the term in years, for terms such as 5 years and 6 months. To state a tenure purely in months, set the years to 0 and enter the whole tenure here.

Payment frequency

Extra payment each period Additional principal paid on top of the scheduled payment.

Include the amortisation schedule

Solve forAnything other than the payment treats the payment below as the known quantity and solves the same annuity equation for the missing one.

Payment per period The instalment you can afford or have been quoted. Used only when solving for the rate, the term or the loan amount.

Balloon payment due after (years)Commercial, land and construction loans are commonly written on a long amortisation but fall due earlier, with the remaining balance repaid in one balloon payment. Leave at 0 for a fully amortising loan.

Origination fee or points (%)A percentage of the loan withheld at closing. Enter the figure your lender quotes - fee schedules differ by lender and by programme.

Other fees deducted at closing Guaranty, packaging, survey or documentation fees withheld from the advance rather than paid separately.

Headline figureWhich figure this calculator leads with. Everything else is still computed.

How this is worked out

3 steps

Rate per period = 6.5% / 12 = 0.541667%
Payment = P i / (1 - (1+i)^-n) = 158.02
Over 360 payments the total paid is 56883.81, of which 31883.81 is interest.

Amortisation scheduletable

period	payment	interest	principal	balance
1	158.02	135.42	22.6	24,977.4
2	158.02	135.29	22.73	24,954.67
3	158.02	135.17	22.85	24,931.82
4	158.02	135.05	22.97	24,908.85
5	158.02	134.92	23.1	24,885.75
6	158.02	134.8	23.22	24,862.53
7	158.02	134.67	23.35	24,839.18
8	158.02	134.55	23.47	24,815.71
9	158.02	134.42	23.6	24,792.11
10	158.02	134.29	23.73	24,768.38
11	158.02	134.16	23.86	24,744.52
12	158.02	134.03	23.99	24,720.53
13	158.02	133.9	24.12	24,696.41
14	158.02	133.77	24.25	24,672.16
15	158.02	133.64	24.38	24,647.78
16	158.02	133.51	24.51	24,623.27
17	158.02	133.38	24.64	24,598.63
18	158.02	133.24	24.78	24,573.85
19	158.02	133.11	24.91	24,548.94
20	158.02	132.97	25.05	24,523.89
21	158.02	132.84	25.18	24,498.71
22	158.02	132.7	25.32	24,473.39
23	158.02	132.56	25.46	24,447.93
24	158.02	132.43	25.59	24,422.34
25	158.02	132.29	25.73	24,396.61
26	158.02	132.15	25.87	24,370.74
27	158.02	132.01	26.01	24,344.73
28	158.02	131.87	26.15	24,318.58
29	158.02	131.73	26.29	24,292.29
30	158.02	131.58	26.44	24,265.85
31	158.02	131.44	26.58	24,239.27
32	158.02	131.3	26.72	24,212.55
33	158.02	131.15	26.87	24,185.68
34	158.02	131.01	27.01	24,158.67
35	158.02	130.86	27.16	24,131.51
36	158.02	130.71	27.31	24,104.2
37	158.02	130.56	27.46	24,076.74
38	158.02	130.42	27.6	24,049.14
39	158.02	130.27	27.75	24,021.39
40	158.02	130.12	27.9	23,993.49
41	158.02	129.96	28.06	23,965.43
42	158.02	129.81	28.21	23,937.22
43	158.02	129.66	28.36	23,908.86
44	158.02	129.51	28.51	23,880.35
45	158.02	129.35	28.67	23,851.68
46	158.02	129.2	28.82	23,822.86
47	158.02	129.04	28.98	23,793.88
48	158.02	128.88	29.14	23,764.74
49	158.02	128.73	29.29	23,735.45
50	158.02	128.57	29.45	23,706
51	158.02	128.41	29.61	23,676.39
52	158.02	128.25	29.77	23,646.62
53	158.02	128.09	29.93	23,616.69
54	158.02	127.92	30.1	23,586.59
55	158.02	127.76	30.26	23,556.33
56	158.02	127.6	30.42	23,525.91
57	158.02	127.43	30.59	23,495.32
58	158.02	127.27	30.75	23,464.57
59	158.02	127.1	30.92	23,433.65
60	158.02	126.93	31.09	23,402.56
61	158.02	126.76	31.26	23,371.3
62	158.02	126.59	31.43	23,339.87
63	158.02	126.42	31.6	23,308.27
64	158.02	126.25	31.77	23,276.5
65	158.02	126.08	31.94	23,244.56
66	158.02	125.91	32.11	23,212.45
67	158.02	125.73	32.29	23,180.16
68	158.02	125.56	32.46	23,147.7
69	158.02	125.38	32.64	23,115.06
70	158.02	125.21	32.81	23,082.25
71	158.02	125.03	32.99	23,049.26
72	158.02	124.85	33.17	23,016.09
73	158.02	124.67	33.35	22,982.74
74	158.02	124.49	33.53	22,949.21
75	158.02	124.31	33.71	22,915.5
76	158.02	124.13	33.89	22,881.61
77	158.02	123.94	34.08	22,847.53
78	158.02	123.76	34.26	22,813.27
79	158.02	123.57	34.45	22,778.82
80	158.02	123.39	34.63	22,744.19
81	158.02	123.2	34.82	22,709.37
82	158.02	123.01	35.01	22,674.36
83	158.02	122.82	35.2	22,639.16
84	158.02	122.63	35.39	22,603.77
85	158.02	122.44	35.58	22,568.19
86	158.02	122.24	35.78	22,532.41
87	158.02	122.05	35.97	22,496.44
88	158.02	121.86	36.16	22,460.28
89	158.02	121.66	36.36	22,423.92
90	158.02	121.46	36.56	22,387.36
91	158.02	121.26	36.76	22,350.6
92	158.02	121.07	36.95	22,313.65
93	158.02	120.87	37.15	22,276.5
94	158.02	120.66	37.36	22,239.14
95	158.02	120.46	37.56	22,201.58
96	158.02	120.26	37.76	22,163.82
97	158.02	120.05	37.97	22,125.85
98	158.02	119.85	38.17	22,087.68
99	158.02	119.64	38.38	22,049.3
100	158.02	119.43	38.59	22,010.71
101	158.02	119.22	38.8	21,971.91
102	158.02	119.01	39.01	21,932.9
103	158.02	118.8	39.22	21,893.68
104	158.02	118.59	39.43	21,854.25
105	158.02	118.38	39.64	21,814.61
106	158.02	118.16	39.86	21,774.75
107	158.02	117.95	40.07	21,734.68
108	158.02	117.73	40.29	21,694.39
109	158.02	117.51	40.51	21,653.88
110	158.02	117.29	40.73	21,613.15
111	158.02	117.07	40.95	21,572.2
112	158.02	116.85	41.17	21,531.03
113	158.02	116.63	41.39	21,489.64
114	158.02	116.4	41.62	21,448.02
115	158.02	116.18	41.84	21,406.18
116	158.02	115.95	42.07	21,364.11
117	158.02	115.72	42.3	21,321.81
118	158.02	115.49	42.53	21,279.28
119	158.02	115.26	42.76	21,236.52
120	158.02	115.03	42.99	21,193.53

First 120 of 360 rows.

Yearly summarytable

year	interest	principal	endingBalance
1	1,616.77	279.47	24,720.53
2	1,598.05	298.19	24,422.34
3	1,578.1	318.14	24,104.2
4	1,556.78	339.46	23,764.74
5	1,534.06	362.18	23,402.56
6	1,509.77	386.47	23,016.09
7	1,483.92	412.32	22,603.77
8	1,456.29	439.95	22,163.82
9	1,426.81	469.43	21,694.39
10	1,395.38	500.86	21,193.53
11	1,361.82	534.42	20,659.11
12	1,326.05	570.19	20,088.92
13	1,287.85	608.39	19,480.53
14	1,247.13	649.11	18,831.42
15	1,203.64	692.6	18,138.82
16	1,157.26	738.98	17,399.84
17	1,107.77	788.47	16,611.37
18	1,054.98	841.26	15,770.11
19	998.63	897.61	14,872.5
20	938.52	957.72	13,914.78
21	874.36	1,021.88	12,892.9
22	805.94	1,090.3	11,802.6
23	732.91	1,163.33	10,639.27
24	655.02	1,241.22	9,398.05
25	571.9	1,324.34	8,073.71
26	483.2	1,413.04	6,660.67
27	388.55	1,507.69	5,152.98
28	287.6	1,608.64	3,544.34
29	179.86	1,716.38	1,827.96
30	64.89	1,827.96	0

Its 11 worked examples are re-run on every release, last on 15 September 2026. What changed

Sources and references

5 sources

Standard annuity-immediate payment formula, PMT = P i / (1 - (1+i)^-n)

Equivalent to the Excel PMT function and to the actuarial present value of a level annuity.

12 CFR Part 1026 (Regulation Z), Appendix J - Annual Percentage Rate Computations

Consumer Financial Protection Bureau, "What is a balloon payment? When is one allowed?"

A balloon loan is amortised on a longer schedule than its term, leaving the outstanding balance due in one payment at the end of the term.

13 CFR 120.212 - What limits are there on the maturities of 7(a) loans?

Source for the maturity defaults used by the SBA variant. Rates and guaranty fees are lender- and programme-specific and stay user inputs.

26 U.S.C. 72(p)(2)(B) - repayment period for a loan from a qualified employer plan

Source for the five-year repayment default used by the 401(k) variant (longer terms are permitted only for a principal-residence loan).

Keep this result

Save it, change one figure, then compare the two

The calculation stays free. Save this scenario, adjust one assumption, save that too, and put them side by side to see exactly what the change costs you. A free account keeps 5 scenarios and 2 comparisons; Personal makes both unlimited and adds exports and private links. Nothing is saved unless you press Save.

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What the Loan Payment Calculator calculates

Computes the level payment, total interest and full amortisation schedule for an instalment loan, and solves the same annuity equation backwards for the rate, the term or the amount that can be borrowed. Handles extra principal, balloon structures and fees withheld at closing.

How to use this Loan Payment Calculator

Enter Loan amount, Annual interest rate, Loan term and Term - additional months. Payment updates as you type, and “Use a worked example” loads checked figures you can adjust. Change one figure at a time to see what drives the result.

How the result is worked out

Open “How this is worked out” beside the result for the step-by-step calculation behind Payment, Total interest and Total of payments.

The method follows Standard annuity-immediate payment formula, PMT = P i / (1 - (1+i)^-n), 12 CFR Part 1026 (Regulation Z), Appendix J - Annual Percentage Rate Computations, Consumer Financial Protection Bureau, "What is a balloon payment? When is one allowed?", 13 CFR 120.212 - What limits are there on the maturities of 7(a) loans? and 26 U.S.C. 72(p)(2)(B) - repayment period for a loan from a qualified employer plan.

25,000 at 6.5% over 5 years example

With Loan amount: 25000, Annual interest rate: 6.5, Loan term: 5, the calculator returns Payment: 489.15. This example is checked against an independent source in the test suite.

What you can compare

Change one input at a time to see how it affects Payment, Total interest and Total of payments. The inputs you can vary are Loan amount, Annual interest rate, Loan term, Term - additional months, Payment frequency and Extra payment each period.

Results are general information, not financial, tax, legal, medical or engineering advice. Check any decision that matters with a qualified professional.

Embed this calculator on your website

Copy this code into any page. The calculator appears with the figures currently entered, sizes itself to fit, and a small credit line links back here. Free, no account, no ads inside it, no tracking of your readers. Set your own figures and fixed fields; Personal removes the credit line, sets your colour and shows you which sites use it.

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Frequently asked questions

How do you calculate a loan?

Computes the level payment, total interest and full amortisation schedule for an instalment loan, and solves the same annuity equation backwards for the rate, the term or the amount that can be borrowed. Open “How this is worked out” beside the result to see each step for your own figures.

How much is a $400,000 loan for 30 years?

On the figures this page opens with — loan amount 25,000, annual interest rate 6.5% and loan term 5 years — the payment is 158.02. No single number fits everyone: change any figure above and the answer updates as you type, with each step of the arithmetic beside it.

How much is a monthly payment on a $100,000 loan?

It needs Loan amount, Annual interest rate, Loan term, Term - additional months, Payment frequency and Extra payment each period. Nothing else is required, and the figures stay in your browser.

What information do I need for the Loan Payment Calculator?

You need Loan amount, Annual interest rate, Loan term, Term - additional months, Payment frequency, Extra payment each period, Solve for and Payment per period. The page opens with default figures that give payment of 158.02, so you can see the scale before entering your own.

What does this Loan Payment Calculator show?

It shows Payment, Total interest, Total of payments, Number of payments, Payoff time, Rate per period, Interest per unit borrowed and Interest saved by extra payments, with the working and any warnings for your entries.

Can I check how the Loan Payment Calculator result was calculated?

Yes. The “How this is worked out” section shows the calculation steps, and the sources section identifies the references used for the method.

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