Free Loan & Mortgage Calculator
Enter your loan amount, interest rate and term to see your monthly repayment, total amount repaid and total interest. Works for mortgages, car loans and personal loans.
Loan & Mortgage Calculator
Mr B says: The total interest over a 30-year mortgage is often more than the original loan amount. Even small extra repayments each month can shave years off the term.$
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Loan summary
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⚠️ This tool is for general guidance only and is not financial advice.
Common questions
Loan and mortgage questions
Your monthly repayment is calculated using an amortisation formula that accounts for the loan amount, interest rate, and term. Each payment covers the interest accrued that month plus a portion of the principal. Early payments are mostly interest; later payments are mostly principal. This calculator shows the fixed monthly payment using standard amortisation.
Mortgage rates vary by country, lender, loan type, loan-to-value ratio, and your credit profile. Rather than chasing a specific number, compare rates from multiple lenders and use this calculator to see the monthly and total interest impact of even a 0.25% difference — it is often significant over a 25–30 year term.
Even small regular overpayments reduce your outstanding balance faster, which reduces the interest charged each month, which means more of each subsequent payment goes to principal. A $100/month overpayment on a $400,000 30-year mortgage at 6.5% typically saves over $50,000 in interest and shortens the term by about 4 years.
Principal is the amount you originally borrowed. Interest is the cost of borrowing it. Each monthly repayment is split between the two — the split changes over time (more interest at the start, more principal later). This is called amortisation. Use our Pro tier to see a full month-by-month amortisation table.