This tool is for informational use only. It is not financial advice – Auburn AI is not a registered financial advisor. Numbers here are estimates; consult a licensed Canadian financial advisor before any major money decision.
Loan and Mortgage Calculator
Monthly payments and amortization schedule.
How to use
Runs entirely in your browser. Live updates or click to run. No signup, no tracking, no data sent anywhere.
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Part of 71 free tools by Auburn AI. Category: Calculators
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About this tool
A loan calculator figures out your monthly payment, total interest paid, and full amortization schedule based on loan amount, interest rate, and term. It works for mortgages, car loans, personal loans, student debt, or any fixed-rate instalment loan. If you need to know exactly where your money is going each month, this is the tool that breaks it down clearly.
Reach for it before you sign anything. Use it when comparing lenders with different rates or terms, when deciding between a shorter term with higher payments versus a longer term with lower ones, or when you want to see how an extra lump-sum payment would reduce your total interest cost over the life of the loan.
How to use it
- Enter the total loan amount you are borrowing or plan to borrow.
- Input the annual interest rate as a percentage, for example 6.5.
- Set the loan term in years or months depending on the loan type.
- Choose your payment frequency: monthly, bi-weekly, or weekly if available.
- Click Calculate to see your payment amount and total interest charged.
- Scroll through the amortization table to review principal and interest per period.
Pro tips
- Compare two scenarios side by side by changing only the rate to see exactly how much a half-point difference costs you over the full term.
- Look at the amortization table early in the term to see how little principal you are actually paying down versus interest in those first payments.