Total Loan Cost Calculator
Enter loan amount, annual rate, and term. Get monthly payment, total interest, and total amount paid. Works for any fixed-rate, fixed-term loan.
Total cost
Enter values to calculate.
How it works
We use the standard amortization formula. Total paid = monthly payment × number of payments. Total interest = total paid − principal.
When to use it
Use it to compare loan offers, to see the true cost of a longer term, or to plan debt payoff.
Frequently asked questions
Does this include fees?
No. Only principal and interest. Add origination or other fees separately.
Same as amortization calculator?
Same formula; this one emphasizes total cost rather than the schedule.