About Ledgercal
Ledgercal is a free, independent loan calculator and education site. It helps people understand what a loan really costs before they talk to a bank, credit union or broker.
Our mission
Most borrowers compare monthly payments only. We think the total interest, the payoff date and the effect of extra payments matter just as much, so the calculator shows all of them in one place, together with a full amortization schedule you can export as CSV.
How the numbers are calculated
Ledgercal uses the standard fixed-rate amortization formula. Each monthly payment first covers the interest accrued on the remaining balance, and the rest reduces principal. Everything runs in your browser, so the amounts you enter are not sent to our servers.
Our articles
Our guides are written by the Ledgercal editorial team and reviewed for accuracy against the same formulas used in the calculator. They are educational and are not personal financial advice. Browse them in the articles section.
What we are not
Ledgercal is not a lender, broker or financial adviser, and we do not receive applications or make loan offers. See our disclaimer. Questions or corrections? Contact us.