Loan & Mortgage Calculator
Work out your monthly repayment, total interest and total cost for any loan or mortgage.
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per month
| Total repaid over the term | – |
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| Total interest paid | – |
| Number of payments | – |
Loan and mortgage repayment calculator
This calculator works out the monthly repayment on a repayment loan or mortgage, along with the total amount you will pay back and how much of that is interest. Enter the amount borrowed, the annual interest rate, and the term in years, and choose your currency. It works for mortgages, car loans, and personal loans in pounds, dollars, or euros.
How repayments are calculated
The tool uses the standard amortising loan formula: M = P · r · (1 + r)ⁿ ÷ [(1 + r)ⁿ − 1], where P is the amount borrowed, r is the monthly interest rate (annual rate ÷ 12), and n is the total number of monthly payments. Each payment covers the interest for that month plus a portion of the principal, so the balance falls to zero by the end of the term.
Tips for borrowers
Even a small change in the interest rate or term makes a big difference to the total cost — try a few scenarios to compare. A shorter term means higher monthly payments but far less interest overall. If you are saving for a deposit or comparing overpayments, our savings calculator can help.
Frequently asked questions
Does this include fees or insurance?
No. It calculates principal and interest only. Mortgages may also have arrangement fees, insurance, and taxes, so your actual monthly outgoing can be higher.
Is the interest rate fixed?
The calculation assumes a fixed rate for the whole term. If your rate is variable, the real repayment will change when the rate changes.
Disclaimer: This calculator provides estimates for informational purposes only and is not financial advice. Quoteen is not a lender or financial advisor. Always confirm figures with your lender.