Loan Payment Calculator
Work out the monthly payment on any fixed-rate loan, and see how much of it goes to interest instead of your balance.
Your numbers
Everything is calculated in your browser. Nothing you type here is sent to Verdi or stored anywhere.
Monthly payment
$512.91
for 5 years
- Total paid
- $30,775
- Total interest
- $5,775
- Interest as a share of the loan
- 23.1%
Over 5 years you'd pay $5,775 in interest on a $25,000 loan.
How to use this calculator
How this calculator works
It uses the standard amortization formula for a fixed-rate loan: every payment covers the interest accrued that month first, and whatever is left reduces your balance. Early payments are mostly interest; later payments are mostly principal.
What to watch for
A longer term lowers the monthly payment but raises the total interest, sometimes dramatically. Try the same loan at two different terms and compare the total interest line rather than the monthly payment alone.
Common questions
Does this include fees or insurance?
No. It calculates principal and interest only. Origination fees, insurance and taxes are separate and should be added on top of the payment shown.
Is APR the same as the interest rate?
Not always. APR is meant to include certain fees alongside the interest rate, so it is usually the more complete number to compare offers with. If your lender quotes both, use the APR here for a more conservative estimate.
This calculator is an educational estimate based only on the figures you enter. Verdi does not provide financial, investment, tax, legal, credit or lending advice. Actual rates, fees, taxes and terms offered to you may differ.