Switch between mortgage, auto and personal loans, adjust one slider-free set of boxes, and see your payment, total interest and payoff schedule update live — with taxes, insurance and PMI baked into the mortgage number.
PMI is charged when your down payment is under 20% of the home price and drops off once you reach 20% equity — real lenders' PMI rates vary by credit score, typically 0.3%–1.2% of the loan per year.
Estimates use standard amortization math. Your lender's actual payment can differ with fees, escrow changes or how interest compounds — treat this as a planning tool, not a quote.
Same loan, same rate — different term lengths. A shorter term usually means a higher monthly payment but far less interest overall.
| Term | Monthly P&I | Total interest | Total repaid |
|---|
In the early years most of your payment is interest. Here's where you stand at each milestone of the loan you entered above.
| Time | Paid to date | Interest so far | Principal paid | Balance left |
|---|
No black box — every figure on this page comes from standard amortization math you can check by hand.
M = P × r(1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is the amount financed, r is the monthly rate (APR ÷ 12) and n is the number of months. This is the same formula lenders use.
Loan amount = home price − down payment. The headline number above adds property tax and insurance (your "escrow"), and PMI when the down payment is below 20%. That total is what most borrowers actually send the bank each month.
Amount financed = car price + sales tax − down payment − trade-in. Registration and dealer fees aren't included; add them to "car price" if you want them rolled into the loan.
Each month, interest = balance × monthly rate, and the rest of your payment chips away at principal. Early on the balance is large, so interest eats most of the payment — the milestone table above shows the crossover.