Free Loan Calculator — The Real Cost of Extending Your Term

Last updated: April 17, 2026

MoneyMath's loan calculator shows the real cost of borrowing by comparing monthly payment, total interest, payoff date, and extra-payment scenarios side by side.

Free to useRuns in your browserTransparent assumptions

Free loan calculator with term comparison table. See the real cost of extending your loan — compare 24 to 84 months side-by-side, model extra payments, and find the cheapest way to borrow.

Use the Loan Calculator to compare realistic scenarios before making a money, health, or planning decision.

Adjust the inputs and review the result breakdown so you can see which assumptions matter most.

How to use this calculator

Step 1Enter your starting information. Add the core inputs requested by the Loan Calculator, such as amounts, dates, rates, income, weight, or other scenario details.
Step 2Review the calculated result. Read the headline answer first, then scan the supporting breakdown, chart, or comparison table.
Step 3Compare another scenario. Change one input at a time to understand what drives the result and which option is most realistic.

Formula, Sources & Assumptions

Formula

Loan payment uses the standard amortizing loan formula with monthly rate and number of payments.

Assumptions

Results are estimates for planning and education.
Actual costs, taxes, rates, or outcomes may differ based on personal circumstances and updated rules.