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Online Payment Calculator

Estimate a loan's monthly payment and amortization, or find how long a fixed monthly payment takes to pay it off. Free and instant.

Result

Monthly payment ($): 1,186.19

Time Required to Clear Debt (years):: 15

Total payments ($): 213,514.20

Total Interest ($): 63,514.20

Interest

Principal

Balance

0 yr

5 yr

10 yr

15 yr

months BEGINNING BALANCE ($) INTEREST ($) PRINCIPAL ($) ENDING BALANCE ($)
1 150,000.00 7,343.51 6,890.77 143,109.23
2 143,109.23 6,990.96 7,243.32 135,865.91
3 135,865.91 6,620.38 7,613.90 128,252.02
4 128,252.02 6,230.84 8,003.44 120,248.58
5 120,248.58 5,821.37 8,412.91 111,835.67
6 111,835.67 5,390.95 8,843.33 102,992.34
7 102,992.34 4,938.51 9,295.77 93,696.56
8 93,696.56 4,462.92 9,771.36 83,925.20
9 83,925.20 3,963.00 10,271.28 73,653.92
10 73,653.92 3,437.50 10,796.78 62,857.14
11 62,857.14 2,885.11 11,349.17 51,507.97
12 51,507.97 2,304.47 11,929.81 39,578.16
13 39,578.16 1,694.12 12,540.16 27,038.00
14 27,038.00 1,052.54 13,181.74 13,856.26
15 13,856.14 378.14 13,856.14 0.00
months BEGINNING BALANCE ($) INTEREST ($) PRINCIPAL ($) ENDING BALANCE ($)
1 150,000.00 625.00 561.19 149,438.81
2 149,438.81 622.66 563.53 148,875.28
3 148,875.28 620.31 565.88 148,309.41
4 148,309.41 617.96 568.23 147,741.17
5 147,741.17 615.59 570.60 147,170.57
6 147,170.57 613.21 572.98 146,597.59
7 146,597.59 610.82 575.37 146,022.22
8 146,022.22 608.43 577.76 145,444.46
9 145,444.46 606.02 580.17 144,864.29
10 144,864.29 603.60 582.59 144,281.70
11 144,281.70 601.17 585.02 143,696.68
12 143,696.68 598.74 587.45 143,109.23
#1
13 143,109.23 596.29 589.90 142,519.33
14 142,519.33 593.83 592.36 141,926.97
15 141,926.97 591.36 594.83 141,332.14
16 141,332.14 588.88 597.31 140,734.83
17 140,734.83 586.40 599.79 140,135.04
18 140,135.04 583.90 602.29 139,532.75
19 139,532.75 581.39 604.80 138,927.94
20 138,927.94 578.87 607.32 138,320.62
21 138,320.62 576.34 609.85 137,710.76
22 137,710.76 573.79 612.40 137,098.37
23 137,098.37 571.24 614.95 136,483.42
24 136,483.42 568.68 617.51 135,865.91
#2
25 135,865.91 566.11 620.08 135,245.83
26 135,245.83 563.52 622.67 134,623.17
27 134,623.17 560.93 625.26 133,997.91
28 133,997.91 558.32 627.87 133,370.04
29 133,370.04 555.71 630.48 132,739.56
30 132,739.56 553.08 633.11 132,106.45
31 132,106.45 550.44 635.75 131,470.70
32 131,470.70 547.79 638.40 130,832.31
33 130,832.31 545.13 641.06 130,191.25
34 130,191.25 542.46 643.73 129,547.53
35 129,547.53 539.78 646.41 128,901.12
36 128,901.12 537.09 649.10 128,252.02
#3
37 128,252.02 534.38 651.81 127,600.21
38 127,600.21 531.67 654.52 126,945.69
39 126,945.69 528.94 657.25 126,288.44
40 126,288.44 526.20 659.99 125,628.45
41 125,628.45 523.45 662.74 124,965.71
42 124,965.71 520.69 665.50 124,300.21
43 124,300.21 517.92 668.27 123,631.94
44 123,631.94 515.13 671.06 122,960.88
45 122,960.88 512.34 673.85 122,287.03
46 122,287.03 509.53 676.66 121,610.37
47 121,610.37 506.71 679.48 120,930.89
48 120,930.89 503.88 682.31 120,248.58
#4
49 120,248.58 501.04 685.15 119,563.42
50 119,563.42 498.18 688.01 118,875.41
51 118,875.41 495.31 690.88 118,184.54
52 118,184.54 492.44 693.75 117,490.78
53 117,490.78 489.54 696.65 116,794.14
54 116,794.14 486.64 699.55 116,094.59
55 116,094.59 483.73 702.46 115,392.13
56 115,392.13 480.80 705.39 114,686.74
57 114,686.74 477.86 708.33 113,978.41
58 113,978.41 474.91 711.28 113,267.13
59 113,267.13 471.95 714.24 112,552.89
60 112,552.89 468.97 717.22 111,835.67
#5
61 111,835.67 465.98 720.21 111,115.46
62 111,115.46 462.98 723.21 110,392.25
63 110,392.25 459.97 726.22 109,666.03
64 109,666.03 456.94 729.25 108,936.78
65 108,936.78 453.90 732.29 108,204.49
66 108,204.49 450.85 735.34 107,469.15
67 107,469.15 447.79 738.40 106,730.75
68 106,730.75 444.71 741.48 105,989.27
69 105,989.27 441.62 744.57 105,244.71
70 105,244.71 438.52 747.67 104,497.04
71 104,497.04 435.40 750.79 103,746.25
72 103,746.25 432.28 753.91 102,992.34
#6
73 102,992.34 429.13 757.06 102,235.28
74 102,235.28 425.98 760.21 101,475.07
75 101,475.07 422.81 763.38 100,711.69
76 100,711.69 419.63 766.56 99,945.14
77 99,945.14 416.44 769.75 99,175.38
78 99,175.38 413.23 772.96 98,402.42
79 98,402.42 410.01 776.18 97,626.24
80 97,626.24 406.78 779.41 96,846.83
81 96,846.83 403.53 782.66 96,064.17
82 96,064.17 400.27 785.92 95,278.25
83 95,278.25 396.99 789.20 94,489.05
84 94,489.05 393.70 792.49 93,696.56
#7
85 93,696.56 390.40 795.79 92,900.78
86 92,900.78 387.09 799.10 92,101.67
87 92,101.67 383.76 802.43 91,299.24
88 91,299.24 380.41 805.78 90,493.46
89 90,493.46 377.06 809.13 89,684.33
90 89,684.33 373.68 812.51 88,871.82
91 88,871.82 370.30 815.89 88,055.93
92 88,055.93 366.90 819.29 87,236.64
93 87,236.64 363.49 822.70 86,413.94
94 86,413.94 360.06 826.13 85,587.81
95 85,587.81 356.62 829.57 84,758.23
96 84,758.23 353.16 833.03 83,925.20
#8
97 83,925.20 349.69 836.50 83,088.70
98 83,088.70 346.20 839.99 82,248.71
99 82,248.71 342.70 843.49 81,405.23
100 81,405.23 339.19 847.00 80,558.22
101 80,558.22 335.66 850.53 79,707.69
102 79,707.69 332.12 854.07 78,853.62
103 78,853.62 328.56 857.63 77,995.99
104 77,995.99 324.98 861.21 77,134.78
105 77,134.78 321.39 864.80 76,269.98
106 76,269.98 317.79 868.40 75,401.59
107 75,401.59 314.17 872.02 74,529.57
108 74,529.57 310.54 875.65 73,653.92
#9
109 73,653.92 306.89 879.30 72,774.62
110 72,774.62 303.23 882.96 71,891.66
111 71,891.66 299.55 886.64 71,005.02
112 71,005.02 295.85 890.34 70,114.68
113 70,114.68 292.14 894.05 69,220.64
114 69,220.64 288.42 897.77 68,322.86
115 68,322.86 284.68 901.51 67,421.35
116 67,421.35 280.92 905.27 66,516.09
117 66,516.09 277.15 909.04 65,607.05
118 65,607.05 273.36 912.83 64,694.22
119 64,694.22 269.56 916.63 63,777.59
120 63,777.59 265.74 920.45 62,857.14
#10
121 62,857.14 261.90 924.29 61,932.85
122 61,932.85 258.05 928.14 61,004.72
123 61,004.72 254.19 932.00 60,072.71
124 60,072.71 250.30 935.89 59,136.83
125 59,136.83 246.40 939.79 58,197.04
126 58,197.04 242.49 943.70 57,253.34
127 57,253.34 238.56 947.63 56,305.70
128 56,305.70 234.61 951.58 55,354.12
129 55,354.12 230.64 955.55 54,398.57
130 54,398.57 226.66 959.53 53,439.04
131 53,439.04 222.66 963.53 52,475.51
132 52,475.51 218.65 967.54 51,507.97
#11
133 51,507.97 214.62 971.57 50,536.40
134 50,536.40 210.57 975.62 49,560.78
135 49,560.78 206.50 979.69 48,581.09
136 48,581.09 202.42 983.77 47,597.32
137 47,597.32 198.32 987.87 46,609.45
138 46,609.45 194.21 991.98 45,617.47
139 45,617.47 190.07 996.12 44,621.35
140 44,621.35 185.92 1,000.27 43,621.09
141 43,621.09 181.75 1,004.44 42,616.65
142 42,616.65 177.57 1,008.62 41,608.03
143 41,608.03 173.37 1,012.82 40,595.21
144 40,595.21 169.15 1,017.04 39,578.16
#12
145 39,578.16 164.91 1,021.28 38,556.88
146 38,556.88 160.65 1,025.54 37,531.35
147 37,531.35 156.38 1,029.81 36,501.54
148 36,501.54 152.09 1,034.10 35,467.44
149 35,467.44 147.78 1,038.41 34,429.03
150 34,429.03 143.45 1,042.74 33,386.29
151 33,386.29 139.11 1,047.08 32,339.21
152 32,339.21 134.75 1,051.44 31,287.77
153 31,287.77 130.37 1,055.82 30,231.94
154 30,231.94 125.97 1,060.22 29,171.72
155 29,171.72 121.55 1,064.64 28,107.08
156 28,107.08 117.11 1,069.08 27,038.00
#13
157 27,038.00 112.66 1,073.53 25,964.47
158 25,964.47 108.19 1,078.00 24,886.46
159 24,886.46 103.69 1,082.50 23,803.97
160 23,803.97 99.18 1,087.01 22,716.96
161 22,716.96 94.65 1,091.54 21,625.43
162 21,625.43 90.11 1,096.08 20,529.34
163 20,529.34 85.54 1,100.65 19,428.69
164 19,428.69 80.95 1,105.24 18,323.45
165 18,323.45 76.35 1,109.84 17,213.61
166 17,213.61 71.72 1,114.47 16,099.14
167 16,099.14 67.08 1,119.11 14,980.03
168 14,980.03 62.42 1,123.77 13,856.26
#14
169 13,856.26 57.73 1,128.46 12,727.81
170 12,727.81 53.03 1,133.16 11,594.65
171 11,594.65 48.31 1,137.88 10,456.77
172 10,456.77 43.57 1,142.62 9,314.15
173 9,314.15 38.81 1,147.38 8,166.77
174 8,166.77 34.03 1,152.16 7,014.61
175 7,014.61 29.23 1,156.96 5,857.64
176 5,857.64 24.41 1,161.78 4,695.86
177 4,695.86 19.57 1,166.62 3,529.24
178 3,529.24 14.71 1,171.48 2,357.75
179 2,357.75 9.82 1,176.37 1,181.39
180 1,181.27 4.92 1,181.27 0.00
#15
Result
Payoff Length (Years, Months) 10Y, 10M
Monthly payment ($) 2,000.00
Total payments ($) 259,256.94
Total Interest ($) 59,256.94

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What Is This Tool?

The Payment Calculator works in two modes. The Fixed Term mode takes a loan amount, interest rate, and term, and estimates the monthly payment, total payments, and total interest, along with a full amortization schedule and charts. The Fixed Payments mode takes a loan amount, interest rate, and a monthly payment, and estimates how long the loan takes to pay off. The results are estimates to help you plan and are not financial advice. You can download the result as a PDF.

How to Use This Tool?

  • Choose the Fixed Term or Fixed Payments mode.
  • Enter the loan amount, interest rate, and either a term or a monthly payment.
  • Click Calculate to see the payment, totals, and schedule.
  • Open the amortization tables or download the result as a PDF.

Key Features

  • Estimates the monthly payment for a loan amount, rate, and term.
  • Finds the payoff time when you set a fixed monthly payment.
  • Shows annual and monthly amortization schedules.
  • Charts the split of principal and interest and the falling balance.
  • Download the result as a PDF.

Examples

  • A 150,000 loan at 5% over 15 years has a monthly payment of about 1,186.19.
  • Over that term the total paid is about 213,514.20, of which 63,514.20 is interest.
  • A 200,000 loan at 5% paid at 2,000 per month takes about 10 years and 10 months.
  • In that case the total paid is about 259,256.94, with 59,256.94 in interest.

Common Use Cases

  • Estimating a mortgage payment before applying.
  • Working out an auto or personal loan payment.
  • Seeing how long a set monthly payment takes to clear a balance.
  • Comparing how different terms change the total interest.
  • Reviewing an amortization schedule to see principal and interest over time.

Tips & Best Practices

  • Enter the annual interest rate, not the monthly rate.
  • Try a few terms to see how the total interest changes.
  • Remember the result is an estimate and excludes fees, taxes, and insurance.
  • Use the Fixed Payments mode to see the effect of paying a little more each month.
  • Check the amortization schedule to understand how early payments are mostly interest.

Limitations

  • Results are estimates for planning and are not financial advice.
  • It assumes a fixed interest rate for the whole loan.
  • It does not include fees, taxes, insurance, or extra charges.
  • Real lender figures may differ based on their terms and rounding.

Frequently Asked Questions

What is the difference between the two modes?
Fixed Term starts from a loan term to estimate the payment, while Fixed Payments starts from a monthly payment to estimate the payoff time.

What is an amortization schedule?
It is a table showing each period's payment split into interest and principal, along with the remaining balance.

How is total interest found?
Total interest is the total of all payments minus the original loan amount.

Can I save my result?
Yes. Click Download Result as PDF to save the summary and schedule as a file.

Key Terminology

Principal
The original amount borrowed, before interest.
Interest
The cost of borrowing, charged as a percentage of the balance.
Amortization
Paying off a loan over time through regular payments of principal and interest.
Loan term
The length of time over which the loan is repaid.
Monthly payment
The amount paid toward the loan each month.

Quick Knowledge Check

An amortization schedule shows:
In Fixed Payments mode you provide:
Total interest equals:

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