Cashback Calculator

• A lower monthly payment often means a longer term and more total interest paid over the life of the loan.
• A higher APR compounds faster — even a 0.5% difference can add thousands over 30 years.
• Total interest is a better comparison metric than the monthly payment alone.

1. 1Enter the loan or principal amount you're evaluating.
2. 2Set the interest rate (APR) and repayment term.
3. 3Adjust optional inputs like fees, extra payments, or down payment.
4. 4Review the monthly payment, total interest, and full amortization.
5. 5Copy, share, or print the results for your records.

• Home buyers comparing mortgage scenarios
• Borrowers evaluating a personal, auto or student loan
• Anyone paying down credit-card debt
• Financial advisors preparing client scenarios

• Before signing a loan or mortgage agreement
• When shopping rates across lenders
• When considering extra payments or refinancing
• When budgeting for a large purchase

• Interest rate (APR) and how it compounds
• Loan term — longer terms lower the payment but raise total interest
• Down payment or upfront amount
• Fees, points and insurance included in the APR
• Extra or bi-weekly payments

Illustrative examples using U.S. market averages. Enter your own numbers above for a personalized figure.

• Mixing APR with the nominal rate — the APR includes fees.
• Entering annual rate as a decimal (e.g. 0.07 instead of 7).
• Forgetting taxes, insurance, HOA, or PMI when comparing homes.
• Ignoring extra payments — even $50/month can shave years off a loan.

• Compare APR — not just the nominal rate — across offers.
• Model a scenario with an extra $50–$100/month; the interest savings can be dramatic.
• Check the amortisation schedule to see when you cross the interest-vs-principal midpoint.

• Instantly compare loan offers side-by-side without a lender pitch.
• See the full amortization schedule — interest vs principal, month by month.
• Model extra payments and refinancing scenarios in seconds.
• 100% free, no signup, no credit pull, no data stored on our servers.

• APR shown by a lender may differ due to fees, points and credit tier.
• Does not replace a Loan Estimate or Truth-in-Lending disclosure.
• Assumes fixed rate — variable-rate products may behave differently.
• Not a commitment to lend and not a substitute for lender underwriting.

APR (Annual Percentage Rate)

The yearly cost of a loan expressed as a percentage — includes the interest rate plus most lender fees, so it's the fair number to compare offers with.

Principal

The amount you actually borrow (or currently owe), before any interest is added. Every payment splits between principal and interest.

Amortization

The schedule that shows how each payment is divided between interest and principal. Early payments are mostly interest; later payments are mostly principal.

DTI (Debt-to-Income)

Monthly debt payments divided by gross monthly income. U.S. lenders typically prefer a DTI at or below 36–43%.

Escrow

A lender-managed account that collects property taxes and homeowners insurance monthly, then pays them on your behalf when due.

• Confirm the quoted rate is APR (not just the note rate) so fees are included.
• Check whether the payment includes taxes and insurance (escrowed) or just principal + interest.
• Ask about prepayment penalties before committing to any extra-payment plan.
• Compare at least 3 lender offers — a 0.25% rate difference matters over 15–30 years.

The formulas, rates and definitions used by this calculator are aligned with the following official sources:

• Consumer Financial Protection Bureau (CFPB) — U.S. consumer lending, APR and mortgage disclosure rules.
• Federal Reserve — Regulation Z (Truth in Lending) — Statutory definition of APR and amortization disclosure.
• FDIC — Truth in Savings (Regulation DD) — APY calculation and deposit-account disclosure rules.
• FINRA — Investor Education — Debt, interest and investment-cost guidance for U.S. consumers.
• U.S. Department of the Treasury — Daily Yield Curve — Official risk-free benchmark rates used in comparisons.

We use only primary sources — regulators, standards bodies and scheme operators. See our full sourcing policy for details. Sources & References Policy · Calculator Methodology · How We Verify Formulas

We continuously review and improve our calculators to keep formulas, assumptions and references accurate.

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