01
How the estimate works
The calculator applies the standard fixed-payment amortization formula, then allocates each payment between interest and principal. Extra principal is applied every month until the remaining balance is zero.
🏦 US Loan Calculator
Compare a fixed monthly payment with optional extra principal and a one-time fee.
Scheduled monthly outflow
—
Total cost including entered fee —
Total interest —
Payoff months —
Interest saved —
The entered rate is a nominal assumption. APR can include fees; enter a one-time origination fee separately. CFPB: interest rate vs APR · CFPB disclosure guide
Amortization (first 12 months)
| Month | Payment | Interest | Principal | Balance |
|---|
Learn more
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Worked example
For $20,000 over 5 years at an entered 5.5% nominal rate, the scheduled payment is about $382 per month before any extra principal. Add $100 monthly to compare the earlier payoff and interest saved.
03
APR, fees and disclosures
An interest rate and APR are not interchangeable. APR can reflect certain lender fees. Compare this estimate with the lender’s Truth in Lending disclosure and confirm how extra payments are applied.
04
Limits
This is not a quote and does not model variable rates, payment holidays, late fees, taxes, insurance, balloon payments or prepayment penalties. Results use the assumptions you enter.
Frequently asked questions
Does an extra payment reduce principal?
This estimate treats the extra amount as monthly principal. Confirm the lender’s posting rules before paying.
Is the entered rate APR?
No. It is used as a nominal annual interest assumption; APR may include fees.
Methodology and official sources
the US loan calculation explains its inputs, assumptions, and calculation scope.
Method
It applies the disclosed APR, principal, term, and payment-frequency assumptions to the entered values.
Worked example
$10,000 at 8% APR for 36 months produces the displayed monthly-payment estimate.
Limitations
- Rates, rules, and individual circumstances can change the result.
Sources
- Loan interest rate and APR Consumer Financial Protection Bureau · Official source
- Truth-in-Lending disclosure for an auto loan Consumer Financial Protection Bureau · Official source