Monthly Loan Payments Calculator

This monthly loan payments calculator asks you to enter the outstanding loan amount you owe on your mortgage, the annual interest rate you are paying and your payoff goal (15 years, 20 years or 30 years). It will then tell you your total monthly payments together with the total interest payments you will make over the life of the loan.

mortgage rate calculator

For example here is the typical output you'd receive:

Loan Amount: $200,000
Interest Rate (APR): 5%
Repayment Period: 15 years

Monthly Payment: $1,581.59
Total Payment: $284,685.71
Total Interest Payments: $84,685.71