Loan & Mortgage Calculator
Enter a loan amount, interest rate, and term to see your monthly payment and total interest.
| Loan amount | Monthly payment |
|---|---|
| $100,000 | $506.69 |
| $150,000 | $760.03 |
| $200,000 | $1,013.37 |
| $250,000 | $1,266.71 |
| $300,000 | $1,520.06 |
| $350,000 | $1,773.40 |
| $400,000 | $2,026.74 |
FAQ
How is the monthly payment calculated?
This calculator uses the standard amortization formula, which spreads the loan amount plus interest evenly across every monthly payment, so early payments go mostly toward interest and later payments go mostly toward principal.
Does this include taxes or insurance?
No — this shows the core principal-and-interest payment only. For a mortgage, your actual monthly outlay may be higher once property tax, homeowner's insurance, and any mortgage insurance are added by your lender.
What's a realistic interest rate to use?
Rates vary by loan type, credit profile, and current market conditions — check current rates from a lender or comparison site rather than relying on a fixed assumption, since this changes over time.
How much does the loan term affect total interest?
Significantly — a longer term lowers the monthly payment but increases total interest paid over the life of the loan, since interest accrues for more months overall.
What's the monthly payment on a $250,000 mortgage?
At 4.5% APR over 30 years, a $250,000 mortgage comes to about $1,266.71/month in principal and interest (see chart above). Property tax, insurance, and any mortgage insurance are typically added on top by your lender.
What's the monthly payment on a $300,000 mortgage?
At 4.5% APR over 30 years, a $300,000 mortgage works out to about $1,520.06/month. Use the calculator above to see how a different rate or term changes this.
Is it better to choose a 15-year or 30-year mortgage?
A 15-year term means higher monthly payments but far less total interest paid, since you're borrowing for less time. A 30-year term lowers the monthly payment but costs more in total interest over the life of the loan — the right choice depends on what monthly payment fits your budget.
About this tool
This calculator estimates your monthly payment, total amount paid, and total interest for a loan or mortgage using the standard amortization formula. This is an estimate for general reference only, not financial advice — always confirm exact figures with your lender.