Loan payment calculator: find the monthly payment on a mortgage, car loan, personal loan or student loan, the total interest and the payoff date, or work out how much you can borrow, how long it takes and your rate.
Amortization schedule calculator: see every loan payment split into principal and interest, the balance after each one, yearly totals, and download the full schedule.
Early loan payoff calculator: see how extra monthly payments, a yearly lump sum, biweekly payments or rounding up shorten your loan and cut the interest, and whether to prepay or invest.
Loan comparison calculator: compare two loan offers or a refinance by monthly payment, total interest, fees, APR and total cost, and see when a lower rate pays back its fees.
| Loan | Rate | Source |
|---|---|---|
| 30-year fixed mortgage | 7.03% | Freddie Mac, Sep 24, 2026 |
| 15-year fixed mortgage | 6.42% | Freddie Mac, Sep 24, 2026 |
| New car | 6.35% | Experian, Q2 2026 |
| Used car | 11.19% | Experian, Q2 2026 |
| Personal loan | 12.28% | Bankrate, June 2026 |
| Federal student loan, undergraduate | 6.52% | 2026–27 school year |
Payment = P × r ÷ (1 − (1 + r)^−n), where P is the amount borrowed, r is the rate for one payment period (the APR ÷ 12 for monthly payments) and n is the number of payments. Each payment first covers that period's interest, and the rest pays down the balance.
Interest is charged on what you still owe, and that's highest at the start. As the balance falls, more of the same payment goes to principal. The Amortization tab shows where principal takes over.
Usually, but ask your lender to apply extra money to principal rather than to next month's payment, and check the loan for a prepayment penalty.
Paying early earns exactly your loan's rate with no risk. Investing may earn more on average but can lose money. High-rate debt is usually worth clearing first. The Pay off early tab compares the two.
Yes. Half a payment every two weeks adds up to 13 full payments a year instead of 12, which shortens the loan. You can do it yourself; there's no need to pay a company a fee for it.
The rate sets your payment. The APR also counts fees such as origination fees or points, so it shows the true yearly cost. Add fees under Advanced settings to see yours.
Lenders may charge daily interest, pick a different first payment date or round differently. Mortgage payments often include property tax and insurance, which aren't part of the loan.
How loan payments and amortization work, whether to pay off a loan early or invest, biweekly payments, APR versus interest rate, and today's average loan rates.