Calculate your total loan repayment amount, monthly payments, and interest costs instantly with our free financial tool. Perfect for mortgages, personal loans, and auto financing.
Our Total Loan Cost Calculator is a free financial tool that helps you understand the true cost of a loan. By entering basic details like loan amount, interest rate, and term, you'll instantly see:
Understanding the true cost of borrowing is crucial before committing to any loan. Our calculator provides:
The calculator uses the standard loan amortization formula to determine your monthly payments and total loan cost. The formula accounts for compound interest over the life of the loan, giving you an accurate picture of what you'll actually pay. All calculations happen instantly in your browser - no data is sent to any server, ensuring complete privacy.
This calculator works for most common loan types including personal loans, auto loans, mortgages, and student loans. It calculates fixed-rate loans with consistent monthly payments.
This version calculates the principal and interest only. For a comprehensive view that includes origination fees, closing costs, or other charges, you would need to add those to the loan amount manually.
The calculations are based on standard financial formulas used by banks and lenders. Results are accurate for fixed-rate loans. For adjustable-rate loans, results would only be accurate for the initial fixed period.
Yes! Your last calculation is automatically saved in your browser's local storage. When you return to the page, your inputs will be restored. For privacy, this data is only stored on your device.
Absolutely! This is a 100% free tool with no registration required. We don't show ads or sell your data. Just accurate loan calculations whenever you need them.