Loan & Mortgage Calculator
Monthly payment, total interest, and full amortization schedule — free and instant.
Loan Details
Same payment every month — most common for mortgages.
Monthly Payment
$536.82
Total Paid
$193,255.78
Total Interest
$93,255.78
Interest Share
93.3%
Frequently asked questions
What is the difference between annuity and declining balance?
Annuity (fixed payment) keeps the monthly payment constant — principal share increases and interest share decreases each month. Declining balance keeps the principal payment fixed, so total interest paid is lower but early payments are higher.
How is the monthly payment calculated?
For a fixed-rate annuity: M = P × [r(1+r)^n] / [(1+r)^n − 1], where P = principal, r = monthly rate, n = number of months.
Does this include property tax or insurance (PITI)?
No — this calculates principal + interest only. Add your estimated tax and insurance costs separately to get your full monthly housing expense.
Can I use this for any currency?
Yes. The currency symbol is just a display label. Enter your loan amount in any currency and the math is the same.