Loans
Mortgage Calculator
Monthly payment with tax, insurance, PMI, extra payments and a full amortization table.
Loan & mortgage calculators
Five calculators for borrowing decisions: what a home loan costs each month, how much house fits your budget, whether to refinance, what a car loan really costs, and the fastest way out of card debt.
Loans & Mortgage tools
Loans
Home Affordability Calculator
Find the highest home price your income, debts and down payment can support.
Loans
Mortgage Refinance Calculator
Compare your current loan with a new one and see the break-even month.
Loans
Auto Loan Calculator
Car payment with trade-in, down payment, sales tax and total interest.
Loans
Credit Card & Debt Payoff Calculator
Compare the avalanche and snowball methods across several debts.
Which loan calculator do you need?
- Buying a home and know the price? Start with the mortgage calculator. It adds property tax, insurance and PMI to the loan payment and builds a full amortization table.
- Still house hunting? The home affordability calculator works backwards from your income and monthly debts to a maximum price.
- Already have a mortgage? The refinance calculator shows how many months it takes for lower payments to repay closing costs.
- Buying a car? The auto loan calculator handles trade-ins, sales tax and fees that dealers often roll into the loan.
- Paying off cards? The debt payoff calculator compares the avalanche and snowball methods side by side.
Every loan payment comes from one formula
Fixed-rate mortgages, car loans and personal loans all use the same amortization equation. The lender takes the annual rate, divides it into a monthly rate, and solves for the level payment that brings the balance to zero on the last month. Early payments are mostly interest. Later payments are mostly principal. That is why an extra payment in year one saves far more interest than the same payment in year twenty.
Compare the APR, not only the rate
The interest rate sets your payment, but the APR (annual percentage rate) also folds in certain fees, so it is the fairer way to compare two offers. In the UK, lenders quote a similar figure called the APRC for mortgages. Canadian lenders must disclose the cost of borrowing as an APR too. Run each offer through our calculators with its own fees to see the full cost.
Frequently asked questions
Yes for planning. They use the same fixed-rate amortization formula lenders use, so the principal-and-interest figure should match a quote for the same amount, rate and term. Final offers can differ because of fees, insurance and the exact first-payment date.
Yes. The mortgage calculator has US, UK and Canada modes, including UK stamp duty and Canadian semi-annual compounding. The other loan tools let you pick pounds, Canadian dollars, euros or Australian dollars for display.
Interest is charged on the outstanding balance, which is highest at the start. As the balance falls, the interest share of each fixed payment shrinks and the principal share grows.