Overview
What this tool does
A loan calculator works out the monthly payment, total interest, and full amortization schedule for any fixed-rate loan. This calculator handles three of the most common cases: a generic personal loan (just principal, rate, and term), a mortgage (adds property tax, home insurance, PMI when the down payment is under 20%, and HOA fees so you see the true PITI monthly), and an auto loan (adds sales tax, down payment, and trade-in value to compute the financed amount). Every input updates the result live, the amortization table can be downloaded as CSV for spreadsheet analysis, and nothing leaves your browser. Useful for shopping mortgages, comparing dealership offers, paying down debt with a snowball plan, or just understanding what an ad's quoted "$299/mo" really costs over the life of the loan.
How to
Use it in 3 steps
- Pick a mode at the top: Personal loan, Mortgage, or Auto loan.
- Enter the loan amount (or home/vehicle price), interest rate (APR), and term in years.
- For Mortgage: add your down-payment percent, annual property tax, annual home insurance, PMI rate, and monthly HOA fees if any.
- For Auto: add down payment, trade-in value, and sales tax percent.
- Read the headline monthly payment plus total paid and total interest over the life of the loan.
- Click 'Show table' to view the full amortization schedule month-by-month, or 'CSV' to download it.
FAQ
Frequently asked questions
▶What's PITI and why does it matter for mortgages?
PITI = Principal + Interest + Taxes + Insurance. Lenders use PITI (sometimes plus HOA) to decide how much you can borrow, because it's the real monthly housing cost. A 'principal and interest' figure alone undercounts what you'll actually pay every month.
▶How is PMI calculated?
Private Mortgage Insurance is required by most lenders when the down payment is less than 20%. We compute it as the annual PMI rate times the loan amount, divided by 12. Typical PMI rates are 0.3% to 1.5% of the loan annually depending on credit score and loan-to-value.
▶Does the auto-loan mode handle leases?
No, only standard purchase financing. Leases have a different math (capitalized cost minus residual value, plus money factor) that isn't compatible with the amortization formula used here.
▶Why is the interest rate field labeled APR?
For standard amortizing loans the APR equals the nominal annual rate, which is what the formula uses (divided by 12 to get the monthly rate). For loans with origination fees or points, the true APR will be higher than the nominal rate; this calculator treats them as equal.
▶Is my data uploaded?
No. All math runs in your browser. Nothing about your financial situation reaches any server.
▶How accurate is the schedule?
Mathematically exact for fixed-rate loans with monthly compounding. Real-world payments may differ by a cent here and there due to lender rounding rules and the way the final payment is adjusted to clear the remaining balance exactly. The CSV download is suitable for ballpark planning, not for substituting your lender's official schedule.