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Loan & mortgage calculator: monthly payment, total interest, amortization, prepayment savings + term slider.

📘 How to Use

  1. Select the repayment method between Equal Payment and Equal Principal.
  2. Enter the loan amount, annual interest rate, and loan term in years.
  3. Input a prepayment amount and the year to simulate early repayment savings.
  4. Review the calculated monthly payment, total interest, and amortization schedule.

Loan Repayment Simulator (Equal Payment / Equal Principal)

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1 30 yrs 50

fast_forward Prepayment

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Monthly Payment
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Total Payment
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Total Interest
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Savings
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Amortization (Yearly)

Yr Principal Interest Balance

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Loan Repayment Simulator | Calculate Amortization and Prepayment Savings

A fast and interactive online tool to calculate your monthly loan payments, total interest, and amortization schedule. Whether you are planning a mortgage or a personal loan, this tool helps you visualize your financial commitments and the impact of early prepayments.

💡 About This Tool

  • Multiple Repayment Methods Easily toggle between "Equal Payment" (fixed monthly payments) and "Equal Principal" (decreasing monthly payments) to accurately reflect your specific loan agreement.
  • Prepayment Simulation Input a lump-sum prepayment amount and specify the year you plan to make it. The simulator calculates how much interest you will save and how many months you can shave off your total loan term.
  • Detailed Amortization Schedule Automatically generates a year-by-year breakdown displaying the principal paid, interest accumulated, and remaining balance up to a maximum 50-year term.

🧐 Frequently Asked Questions

Q. What is the difference between Equal Payment and Equal Principal?

A. "Equal Payment" keeps your total monthly payment (principal plus interest) identical throughout the entire loan term, making it easier to budget. This is common for traditional mortgages. "Equal Principal" keeps the principal portion of your payment constant, meaning your overall monthly payment starts higher but gradually decreases as the interest drops.

Q. How should I evaluate the calculation results?

A. A critical metric to watch is your monthly payment compared to your income. Financial experts generally recommend the "36% rule," meaning your total monthly debt payments (including this loan) should not exceed 36% of your gross monthly income. Additionally, compare the "Total Interest" against your "Loan Amount." Shortening your loan term from 35 years to 15 years will increase your monthly payment, but it will drastically reduce the total interest paid.

📚 Did You Know? The Power of Early Prepayments

When you first start repaying a standard "Equal Payment" loan, a massive portion of your monthly payment goes toward interest rather than reducing the principal balance. Because interest is always calculated against the remaining principal, the principal drops very slowly in the early years.

This mathematical structure is exactly why making an early prepayment—even a relatively small one—yields disproportionately large savings. When you apply extra funds directly to the principal balance in year 5 instead of year 25, you completely eliminate decades of compounding interest on that specific amount. By utilizing the prepayment feature in this simulator, you can discover exactly how strategic lump-sum payments can accelerate your path to becoming debt-free.