NELMEDIA
loan calculator (US): Mortgage , Auto & extra payments
This loan calculator shows your monthly payment, total interest, and how much you save with extra payments.
Choose mortgage, auto, or personal loan, enter the amount, rate, and term, then see the impact of a down payment and closing costs.
For mortgages under 20% down it also estimates PMI.
Use it before you compare lender offers. Two loans with the same rate can cost very different amounts once fees and term length are included.
US Loan Calculator
Monthly payment, total interest, PMI estimate, closing costs and extra payment savings.
How the loan calculator works
It uses the standard fixed-rate amortization formula:
where (P) is the amount financed, (r) is the monthly rate, and (n) is the number of months.
What it includes
- Loan amount and down payment
- Annual interest rate and term
- Closing costs (added to total cost)
- Estimated PMI on mortgages when down payment is below 20%
- Extra monthly payment that goes to principal and shortens the term
- Total interest and total cost
Mortgage vs auto vs personal
Mortgages often have PMI and higher closing costs.
Auto loans are usually shorter and have no PMI. Personal loans are unsecured and typically carry higher rates. The calculator adjusts the display accordingly.
Extra payments
Any amount you enter above the required payment is applied to principal.
This reduces the balance faster, lowers total interest, and shortens the payoff time.
Lenders may have rules about how extra payments are applied , check your note.
Mortgage calculator : FAQ
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Conclusion
Run the numbers in this loan calculator before you sign.
Compare the monthly payment, total interest, and the effect of even a modest extra payment. The rate alone does not tell you the full cost once down payment, closing costs, and PMI are included.
Drop your loan type, amount, and rate in the comments if you want a breakdown, or tell us which calculator to build next (refinance, credit card payoff, or student loan).