Question 1

How is my monthly payment calculated?

Accepted Answer

It uses the standard amortizing loan formula based on the principal, the monthly interest rate, and the number of payments, so each payment is equal.

Question 2

What is an amortization schedule?

Accepted Answer

A table showing each payment over the life of the loan and how much goes to interest versus principal, with the remaining balance.

Question 3

Does this include taxes and insurance?

Accepted Answer

No. It calculates principal and interest only. Property taxes, insurance, and fees vary and should be added separately for a full mortgage estimate.

Question 4

Can I use it for any currency?

Accepted Answer

Yes. The math is currency-agnostic — just enter your numbers; the result applies to any currency.

Question 5

Is my financial data private?

Accepted Answer

Yes. All calculations happen in your browser; nothing you enter is uploaded.

Loan & MortgageCalculator

Loan & Mortgage
Calculator