Free tool
Loan & mortgage calculator
A $200,000 loan at 4% over 30 years costs $955 a month, $143,739 of interest in total. The calculator shows the payment, the interest and a yearly payoff plan.
How it is calculated
By term (annuity): monthly payment = K · i ÷ (1 − (1 + i)−n), with K = loan amount, i = annual rate ÷ 12, n = months. By initial repayment: monthly payment = K · (interest rate + repayment rate) ÷ 12. Each month the interest on the remaining debt is paid first, the rest of the payment repays the loan. Fees, extra repayments and closing costs are not included.
Frequently asked questions
What is an annuity loan?
A loan with a constant monthly payment. Early on most of it is interest; as the debt shrinks, more and more of it repays the loan.
What is the initial repayment rate?
Common for German mortgages: the share of the loan repaid in the first year. Because interest falls with the remaining debt, the repayment then rises every month.
Are fees included?
No. Closing costs, fees and extra repayments are not included.
DESK is a research tool. This calculator shows arithmetic, not a recommendation: it is not investment, tax or financial advice, and past values say nothing about the future.
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DESK is a research tool and not investment advice.