Loan / Mortgage Calculator

An amortization schedule is a complete table of periodic loan payments, showing the amount of principal and the amount of interest that comprise each payment until the loan is paid off.

Monthly payment = P × [r(1+r)^n] / [(1+r)^n - 1], where P is principal, r is monthly interest rate, n is number of payments.

The basic schedule shows regular payments. Extra payments reduce principal faster and shorten the loan term.

Interest rate is the cost of borrowing. APR includes interest plus fees, giving a more complete cost picture.