What does the monthly payment include?
The estimate includes loan principal and interest. It does not include lender fees, taxes, insurance, escrow, or other charges.
Loan Repayment Calculator
Compare fixed payments, delayed recurring extras, lump sums, and monthly or yearly schedules.
Workspace
Preparing the loan calculator…
Loan assumptions
Estimate a fixed repayment
This is an estimate for a fixed-rate, fully amortizing loan. It includes principal and interest only, not fees, taxes, insurance, changing rates, or lender-specific rounding.
GuideHow to use
- Enter the loan amount, fixed annual rate, term in years or months, and first payment date.
- Optionally add a recurring extra payment with its start month, a one-time lump sum, or both.
- Compare the payment, principal and interest composition, payoff date, time saved, and interest saved against the original schedule.
- Review the first year, yearly totals, or every payment, then copy the summary or download the complete monthly CSV.
HelpFrequently asked questions
How are extra payments applied?
The scheduled payment covers interest and principal first. A recurring extra starts at your selected payment number, and a one-time extra is added at its selected payment. Either is capped so the loan cannot be overpaid.
What does time saved mean?
It is the number of scheduled monthly payments removed compared with the same loan without extra payments. The baseline payoff and interest remain visible for context.
How does the amortization table work?
Each payment first covers that month’s interest on the remaining balance. The rest reduces principal. Use the yearly view for a compact summary or the monthly view for every payment.
How is the interest rate interpreted?
The calculator treats the entered annual rate as a nominal fixed annual rate divided into 12 monthly periods. A lender may use different day counts, compounding, fees, or rounding.
Can I enter a term shorter than one year?
Yes. Switch the term unit to months. Switching units preserves the current duration, and the calculation always requires a whole number of payment months.
Why might the lender’s schedule differ?
Real agreements can use daily interest, payment timing rules, fees, variable rates, prepayment restrictions, or line-level rounding that this general estimate does not model.
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