About LoanCalcly

Most loan calculators online are lead-capture forms wearing a calculator costume. They hide the amortization schedule behind a form, or they quote a teaser rate that no borrower actually gets. We wanted the opposite: a page that opens on the tool, shows the full breakdown, and lets you leave without giving up your phone number.

We also wanted the arithmetic to be right. A payment estimate is only useful if you can trust it, so the formula and its implementation are documented publicly rather than treated as a black box.

The calculator uses the standard fixed-rate amortization formula used by lenders:

M = P × [ r(1 + r)ⁿ ] / [ (1 + r)ⁿ − 1 ]

where P is the principal, r is the monthly interest rate (annual rate ÷ 12) and n is the total number of monthly payments. The monthly payment is constant; what changes month to month is the split between interest and principal, which is what the amortization table shows.

Every figure on the page is derived from that single formula — the monthly payment, the total interest, the total cost and each row of the schedule. Nothing is cached from a third-party quote service.

• The payment, interest and schedule figures are recomputed independently and cross-checked against published worked examples before release.
• Each calculation page carries a visible review date, so you can see when the content was last checked.
• We publish the formula above rather than describing the maths vaguely, so anyone can verify the output themselves.
• If you find a figure that looks wrong, tell us and we will correct it.

It is an estimator, not a loan offer and not financial advice. Real payments can differ because of origination fees, discount points, mortgage insurance, property taxes, homeowners insurance, escrow adjustments and the exact day interest starts accruing. Your lender's Loan Estimate and Closing Disclosure are the documents that govern your actual loan. See our Disclaimer for the full details.

LoanCalcly is free to use and funded by advertising and, where relevant, affiliate links. Advertising never influences the calculator's output — the maths is the maths. Sponsored links, when they appear, are labelled, and our Disclaimer explains exactly how that works.

LoanCalcly is built and maintained independently. It is not a lender, a broker or a lead-generation company, and your information is never sold — because it is never collected in the first place.

I write about borrowing costs and personal finance. I came to the subject from securities analysis, where the same amortisation mathematics decides what an instrument is worth: present value, discounting, and the month-by-month split between interest and principal.

I am not a lender, a broker or a mortgage adviser, and nothing on this site is personalised advice. What I bring to it is a habit carried over from quantitative work — never publish a number that has not been computed twice, by two independent routes.

Calculator content and the explanatory guides carry the byline of David Chen (personal finance editor), and every page lists the date it was last checked. Our methodology page sets out exactly how each figure is produced and verified.

Questions, corrections and suggestions are genuinely welcome. Email hello@loancalcly.com or use the contact page.