Loan Calculator
Compute monthly payment and total interest for any loan — mortgages, personal loans, business loans. Compare equal-payment, equal-principal, and balloon side by side.
Show amortization schedule
| # | Principal | Interest | Payment | Balance |
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How to Use
Principal, annual interest rate, and term (months or years). Results update live as you type.
Equal payment (same total each month), equal principal (same principal, decreasing interest), or balloon (interest-only with full principal at maturity) — all shown side by side.
Expand "Show schedule" to see per-period principal, interest, and remaining balance in a table.
FAQ
Equal-payment vs. equal-principal — what's the difference?
Equal payment keeps total monthly outlay constant; early months are mostly interest. Equal principal repays the same principal each month with shrinking interest — higher up-front cost but less total interest.
When are balloon (interest-only) loans used?
Common for short-term or grace-period loans: pay only interest each month, then the full principal at maturity. Lower monthly cost, highest total interest.
How is the monthly rate computed?
Per Korean banking convention: monthly rate = annual rate ÷ 12 (nominal). Effective APR may differ slightly.
Are early payoff or rate changes modeled?
No — this tool assumes a fixed rate and on-schedule repayment. For early payoff or variable rates, use your bank's simulation.
Is anything sent to a server?
No. All computation happens in your browser; numbers never leave the page.
