Loan Calculator
Standard amortization of a fixed-rate loan. Informational, not lending advice.
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How to calculate a loan payment
- Enter the amount, annual rate, and term in years.
- Optional: down payment and extra principal per payment.
- Read the contractual payment, totals, and the amortization table.
- Treat the figures as amortization arithmetic, not a lender quote.
Fixed-rate loan
Amortizing loan with a constant periodic payment
| Payment | P × r(1+r)^n / ((1+r)^n − 1), r = periodic rate |
|---|---|
| Zero rate | Payment is principal / number of payments |
| Total paid | Payment × number of payments |
| Not included | Fees, insurance, tax, or a teaser rate |
Fixed-rate amortization
This page solves the standard fully amortizing payment for a fixed nominal annual rate and a fixed number of payments per year. It does not add fees, points, insurance, tax, or extra principal. Figures are not a lender quote.
Payment formula
Periodic rate r is the annual percent divided by 100, then by payments per year. Number of payments n is years times payments per year and must be a whole number. Payment is P × r × (1+r)^n / ((1+r)^n − 1). At 0% rate the payment is P / n.
Not lending advice
APR, compounding conventions, and rounding rules differ by product and country. Use this as a check of the textbook payment. See the disclaimer. Mortgages and EMI use the same engine with different labels: mortgage, EMI.