Loan Calculator
Instantly estimate your monthly payment for any installment loan—auto, home, or personal—using our free, mobile-friendly Loan Calculator. No need to wrestle with a complex formula in Excel or feel pressured by a salesperson.
Our app-style interface delivers an interactive chart, a detailed amortization schedule, and your payoff date in seconds—all sales-spin-free.
Loan Calculator: Estimate Your Repayment
Your loan estimate
| Payment date | Principal | Interest | Monthly total | Principal balance |
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How to use Invoice Fly's Loan calculator
Table of Contents
Why Our Loan Calculator Beats Excel and Bank Tools
Crunching loan numbers in Excel or on a lender’s site can leave you guessing about fees, APR, and payoff dates.
Our calculator streamlines every step—so you can:
- Factor in origination fees (paid upfront or rolled into your loan) and see how they affect your APR.
- Select the number of months and pick your exact start date for accurate payoff dates.
- Compare total principal vs. total interest vs. total payments at a glance.
- Access a fully detailed amortization schedule—right in your browser.
Designed for contractors, small business, freelancers, entrepreneurs, and anyone who demands transparency before signing on the dotted line.
Key Features of Our Loan Calculator
- Loan Amount & Interest Rate: Enter any principal (e.g., $15,000) and APR (e.g., 5%) for precise payment estimates.
- Flexible Loan Term: Specify term in months.
- Start Date Selection: Set your exact loan origination date to calculate the true payoff month.
- Origination Fee Options:
- Payment Timing: Choose “Upfront” or “Deducted from loan” to see immediate cost vs. rolled-in scenarios.
- Fee Calculation: Enter an origination fee as a percentage or a fixed amount.
- Comprehensive Results Panel: See all key metrics in one place:
- Monthly Payment (e.g., $633.04)
- Total Principal (e.g., $15,000.00)
- Total Interest Payments (e.g., $826.01)
- Total Loan Payments (e.g., $15,826.01)
- Payoff Date (e.g., 12/2027)
- Origination Fee (e.g., $750.00)
- Cost of Loan (principal + interest + fees)
- APR (e.g., 9.64%)
- Interactive Amortization Schedule:
- Drill down into each month’s principal, interest, payment, and remaining balance.
- Mobile-First Design: Fully responsive on iPhone, Android, and any desktop—no app install needed.
How to use the Loan Payment Calculator
- Enter Loan Amount
- Input your desired principal. Fine-tune it to match your budget or sales price.
- Set Interest Rate (APR)
- Use your lender’s quoted APR. Our calculator factors in compounding to show true cost.
- Choose Loan Term
- Enter the number of months the loan will last.
- Select Start Date
- Specify the exact origination date. We’ll compute the payoff month accordingly.
- Configure Origination Fees
- How will fees be paid? Choose Upfront or Deducted from loan.
- Fee type: Enter a percentage (e.g., 5 %) or fixed amount (e.g., $500).
- See how fees alter your APR, total loan payments, and cost of credit.
- Review Your Estimate
- View your monthly payment, total principal, total interest, total payments, origination fee, cost of loan, and APR in one panel.
- Show Amortization Schedule
- Expand the schedule to see each month’s principal vs. interest, monthly total, and outstanding balance.
Examples of Core Usage Scenarios
Auto Loan Purchase
- Loan: $20,000 | Rate: 4.5 % APR | Term: 60 months | Origination Fee: 3 % financed
- Monthly Payment: $371.22 | Total Interest: $2,273.20 | APR including fees: 4.72 %
- Payoff Date: 11/2029
Home Loan Comparison
- Loan: $350,000 | Rate: 6.5 % APR | Term: 360 months (30 years) | Fee: $1,000 upfront
- Monthly Payment: $2,214.29 | Total Interest: $399,144.40 | APR with fees: 6.57 %
- Payoff Date: 07/2055
Short-Term Personal Loan
- Loan: $10,000 | Rate: 12 % APR | Term: 24 months | Fee: 5 % financed
- Monthly Payment: $470.73 | Total Interest: $2,297.52 | APR including fees: 13.15 %
- Payoff Date: 04/2025
Business Loan DSCR Check
- Loan: $100,000 | Rate: 7 % APR | Term: 84 months | No fee
- Annual Debt Service: $17,187.84 | DSCR (Net Income $60,000): 3.49×
FAQs about our Free Online Lawn Care Cost Calculator
Interest on a fixed‐rate installment loan is calculated using the standard amortization formula:
Monthly Interest = Remaining Principal × (APR ÷ 12)
Each month, you multiply your outstanding balance by the monthly rate (annual rate divided by 12) to find that month’s interest charge.
Most lenders size your loan based on your maximum affordable monthly payment. Use this calculator in reverse—enter your target monthly payment and term to see the principal you could qualify for at a given APR.
Car loan interest is computed the same way as other installment loans. Multiply your outstanding principal by the monthly rate (APR ÷ 12). Our auto loan calculator automates this every month and shows you the total interest over the life of the loan.
APR includes both your interest rate and any fees you finance. We solve for APR by finding the rate that equates your loan’s net proceeds (principal minus financed fees) with your scheduled payments over the term.
Loan-to-value is the ratio of your loan amount to the asset’s value:
LTV = (Loan Amount ÷ Asset Value) × 100%
For a $200,000 home with a $160,000 loan, LTV is 80%.
We use:
Payment = [P × r] ÷ [1 – (1 + r)^–n]
Where P is principal, r is monthly rate (APR ÷ 12), and n is total payments. You can enter any values into our calculator to see instant results.
- Enter your loan amount (P).
- Input your APR (annual rate).
- Choose your term in months (n).
- Our calculator computes your monthly payment, total interest, APR including fees, and payoff date in seconds.
APR solves for the interest rate that makes the present value of all your payments equal to the net amount you receive after fees. Our tool back-calculates this automatically when you configure origination fees.
Auto loan interest is simply your outstanding principal multiplied by the monthly rate (APR ÷ 12). Our auto loan calculator breaks this down month by month in a full amortization schedule.
Total loan interest = (Monthly payment × number of payments) – principal. Our calculator shows you this figure under “Total Interest Payments.”
Use the amortization formula above—or let our calculator do it for you. Just enter principal, APR, and term to get your exact monthly payment.
InvoiceFly’s Loan Calculator is the best online loan calculator—period. It handles origination fees, APR, amortization schedules, extra payments, and export options in one mobile-friendly tool.
