Calculate loan repayments for any debt. Solve for payment amount, loan term, or the total you can borrow — with full amortization breakdown.
Loan Details
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FAQ
What is an amortized loan?
An amortized loan has equal periodic payments that cover both principal and interest. Early payments are mostly interest; later payments are mostly principal. Common for mortgages, auto loans, and personal loans.
What is an interest-only loan?
Interest-only loans charge only interest each period — the principal doesn't decrease. At the end of the term, the full principal is still owed. Common for commercial real estate and certain mortgages.
How do extra payments help?
Extra payments reduce your principal faster, which reduces the interest calculated each month. Even $50-$100 extra per month can save thousands in interest and months or years off the loan term.
What is a balloon loan?
A balloon loan has lower monthly payments (often interest-only or partially amortized) followed by a large "balloon" payment at maturity. They're common in commercial lending but risky for consumers if refinancing isn't possible.