Loan payment result by amount, rate, and term
$100K loan at 4% for 20 years
A $100K fixed-rate loan at 4% for 20 years has an estimated monthly payment of $606.
Key results
This assumes a fixed rate and equal monthly payments. Lender schedules and fees can change the actual amount.
- Monthly payment
- $606
- Total interest
- $45,435
- Total repaid
- $145,435
Loan assumptions
- Principal
- $100,000
- Annual rate
- 4%
- Loan term
- 20 years
Change the assumptions
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Calculator inputs
Results update as you edit, and the share button copies a link to the current inputs.
Enter the amount you plan to borrow.
Assumes a fixed rate for the full term.
Choose a term from 1 to 50 years.
Results
Monthly payment and total interest for a fixed-rate amortizing loan.
- Total repaid
- $145,435
- First-month interest
- $333
- Interest share of payments
- 31.24%
Assumes equal monthly payments and a fixed rate. Fees, taxes, rate changes, and early repayment are not included.
Monthly payment: $606
Loan calculation questions
What is an amortizing loan?
Each equal payment includes principal and interest. Interest makes up more of early payments, while principal becomes a larger share later.
Can I use this for an adjustable-rate loan?
The result assumes today's rate remains fixed. Recalculate with the remaining balance and term whenever the rate changes.
Does a 0% rate work?
Yes. At 0%, the principal is divided evenly by the number of monthly payments.