Payment Calculator

Calculate your exact monthly loan payment in seconds. Free mortgage, car, and personal loan calculator with reverse mode (fixed payments). See total interest & payoff time instantly - no sign-up.

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Payment Calculator: Plan Your Mortgage, Car Loan, or Personal Loan

Trying to figure out how much your loan will actually cost you each month? Or wondering how long it will take to pay off a $50,000 personal loan if you can afford $800 a month? You're not alone.

Most people focus only on the loan amount and interest rate - but the real question is: “What will my monthly payment be?” and “How much interest will I pay over the life of the loan?”

That's exactly why I built this completely free Loan Payment Calculator - and why thousands of people use it every month.

Instant Loan Payment Calculator

Want to know your payment right now? Just drop in your loan amount, the interest rate, and either the length of time you want to borrow for (the term) or the monthly payment you're aiming for.
That's it! Our calculator instantly gives you all the details you need:
Your exact monthly payment.
The total amount you'll pay back (principal + interest).
The total cost of interest over the life of the loan.
The exact date you'll finally pay off the debt.
A clear chart showing how much of your money goes toward the loan itself versus the bank's interest.
The best part? It works for virtually any loan you can think of: mortgages, car loans, student loans, personal loans, RV loans

Two Modes to Match How You Actually Think

Finally, A Calculator That Thinks Like You Do.
Tired of calculators that make you do the math gymnastics? Most online tools force you to speak "banker," but this one meets you where you are.

Mode 1: Fixed Term: The Standard Plan (What's My Payment?)
This is the mode everyone knows. You already have a big purchase in mind and know exactly how long you want to be paying it off (like a 30-year mortgage or a 5-year car lease).
Here's how it works:
Tell the calculator the loan's duration in years, and it instantly spits out your fixed monthly payment.
The Reality Check:
Loan Amount: $300,000
Rate: 6.5%
Term: 30 years
Your Monthly Bill: $1,896.20
Total Paid: $682,632
Total Interest: $382,632 (Yikes! Better to know this upfront.)

Mode 2: Fixed Payments: The Freedom Fighter (How Fast Can I Pay This Off?)
This is our "reverse" mode and it's a game-changer. Instead of letting the bank tell you what your term is, you tell us what you can comfortably pay each month. We'll show you how quickly you can achieve debt freedom.
Here's how it works:
Enter your comfortable monthly budget, and see the exact month you'll be done with the loan.
The Fast-Track Example:
Loan Amount: $40,000 (Car Loan)
Rate: 7.9%
Your Monthly Budget: $750
The Result: You pay it off in just 5 years and 6 months!
The Benefit: You jump off the debt treadmill nearly two years early and save a cool $5,800+ in interest. This mode is your secret weapon for paying off debt lightning fast.

Real-Life Examples People Use This For

The Proof is in the Payments: Real-Life Scenarios
Want to see exactly how these two modes help people win? Here are the most common ways people use this calculator every single day:

Home Buyers: The 15-Year vs. 30-Year Showdown
This is the biggest decision for nearly every homeowner. When comparing a standard term to the aggressive one, the numbers speak for themselves.
Scenario: A $400,000 Mortgage at 6.8%
The 30-Year Route (Standard):
Monthly Payment: $2,609
Total Interest Paid: $539,148
Result: You pay more in interest than the house was originally worth.
The 15-Year Route (Fast-Track):
Monthly Payment: $3,549 (A difference of $940)
Total Interest Paid: $138,820
The HUGE Win: By paying just under a thousand dollars more per month, you save over $400,000 in interest and cut your debt life in half!

Car Buyers: The Hidden Cost of the Low Payment
When the dealer offers you 60 months versus 72 months, they only talk about the payment difference. We show you the cost of convenience.
Scenario: A $35,000 Car Loan at 6.5%
Term
Monthly Payment
Total Interest Paid
60 Months
$686/month
$6,164
72 Months
$580/month
$8,774
That seemingly small $106 drop in your monthly payment costs you $2,610 extra in interest over the life of the loan. Knowing that makes it easy to choose the shorter term!

Debt Consolidation: Escaping Credit Card Slavery
Credit cards are financial quicksand. This tool is critical for seeing how a dedicated payment plan can get you out of debt fast.
Scenario: $25,000 in Credit Card Debt at 19% APR
The Minimum Payment Trap:
Time to Pay Off: 31+ years
Total Interest Paid: Over $63,000
Result: You're paying for this debt for the rest of your working life.
The Aggressive $900/month Plan (Mode 2):
Time to Pay Off: Just 3 years!
Total Interest Paid: Under $5,000
The Win: You wipe out the debt in three years and save $58,000 in interest. That's real money back in your pocket.