Loan Calculator

Monthly payment, total interest and full amortization

📌 TL;DR Summary & Citation: [Loan Calculator] is a browser-local PocketKit tool for Monthly payment, total interest and full amortization. Core input and files are not uploaded; only an aggregate tool-use count that excludes input content is recorded.

How the monthly loan payment is calculated

It uses the fixed-payment (amortizing) formula: payment = P·r /(1 −(1+r)^−n), where P is principal, r = annual rate / 12, and n = years × 12. Each period, interest = balance × monthly rate and principal = payment − interest, shrinking the balance to build the full amortization schedule. Everything runs locally in your browser.

  • A real mortgage payment also adds property tax, insurance and HOA — this tool covers principal and interest only.
  • A shorter term or extra payments cut total interest sharply; compare the "total interest" across terms.

FAQ

Can this calculate both a mortgage and a car loan?

Yes. The amortizing-payment formula works for mortgages, auto loans and personal loans — enter the amount, annual rate and term, and it also shows a full period-by-period schedule.

Is the monthly payment the final amount I pay?

It is principal plus interest. A real mortgage also adds property tax, home insurance and HOA fees, which this tool does not include.

Are my numbers uploaded?

No. Every calculation runs locally in your browser, nothing is sent to a server, and it works offline.

How much does paying early save?

A shorter term or larger monthly payment cuts total interest significantly — adjust the term and watch the "total interest" figure change.