What formula is used?

It uses the standard amortized-payment formula: principal x monthly rate x (1+rate)^months / ((1+rate)^months - 1).

How does extra payment work?

The extra amount is added to each monthly payment and applied against the remaining balance, shortening payoff time.

No. It is an estimate. Actual loan terms and fees come from your lender or contract.

Calculate monthly loan payments, total interest, payoff time, and an amortization preview.

30-year loan payment
Input: Loan 250000, rate 6.5%, term 30 years

Output: Shows monthly payment, total interest, and first-year principal/interest split

What formula is used?: It uses the standard amortized-payment formula: principal x monthly rate x (1+rate)^months / ((1+rate)^months - 1).
How does extra payment work?: The extra amount is added to each monthly payment and applied against the remaining balance, shortening payoff time.
Can I use this for a loan contract?: No. It is an estimate. Actual loan terms and fees come from your lender or contract.

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