KOEN

Loan Calculator

LOAN · INTEREST

Calculate monthly payments and total interest for fixed-payment, equal-principal and balloon loans, with an interest-only period and a full amortization schedule.

USD
%

The interest-only period is part of the loan term. During it you pay interest only.

MONTHLY PAYMENT
$0.00/mo

Total interest
$0.00
Total paid
$0.00
Interest vs. principal
0%
Monthly payment breakdown Principal Interest
Month 1

Total interest by repayment type

Show amortization schedule
MonthPaymentPrincipalInterestBalance

Monthly interest is calculated as remaining balance × APR ÷ 12, rounded to the cent. Your lender's figures may differ slightly because of daily interest, fees, taxes or insurance.

HOW TO

How to use

  1. Enter the loan amount, interest rate (APR) and loan term in years or months.
  2. Add an interest-only period if your loan starts with interest-only payments.
  3. Switch between Fixed payment, Equal principal and Balloon to see your monthly payment.
  4. Compare total interest across the three types and open the amortization schedule for month-by-month details.
PAIRS WELL WITH

Pairs well with

FAQ

FAQ

What's the difference between fixed payment and equal principal?

With a fixed payment (a standard amortizing loan) you pay the same amount every month. With equal principal you repay the same slice of principal each month, so payments start higher and shrink, and total interest is lower.

Does this include taxes, insurance or fees?

No. It covers principal and interest only. Property taxes, insurance, PMI and lender fees are not included.

Why is my lender's number slightly different?

Lenders may use daily interest, different payment dates or rounding rules. This calculator uses balance × APR ÷ 12 each month, rounded to the cent.