Model a personal loan payment, interest cost, origination fee, and extra-payment strategy. Review the yearly amortization schedule and compare the result with the disclosed APR and terms in your lender's offer.

Payment summary

Monthly payment

$391.34

48-month term

Total interest

$3,784

Over the life of the loan

Total repaid

$18,784

Principal plus interest

Payoff time

4 yr 0 mo

At the scheduled payment

Amortization by year

YearPrincipal paidInterest paidEnding balance
Year 1$3,133$1,563$11,867
Year 2$3,513$1,183$8,355
Year 3$3,939$757$4,416
Year 4$4,416$280$0

How this calculator works

The monthly payment uses the standard fixed-rate amortization formula on the financed balance. When the origination fee is deducted up front you repay the full loan amount but receive less cash; when it is financed, the fee is added to the balance and increases both the payment and total interest.

Extra payments are applied to principal each month. The schedule recomputes interest on the reduced balance, which is where the interest savings and shorter payoff come from. Results assume a fixed rate and on-time payments; they do not model late fees, deferments, or variable-rate products.

This educational estimate is not financial advice. This input is the note interest rate because origination fees are modeled separately; compare lender offers using their disclosed APR, which incorporates required finance charges.