LoanWise: Mortgage Calculator

LoanWise is a free loan and mortgage calculator that shows what a loan actually costs: the monthly payment, the total interest over the full term, and how each payment splits between principal and interest, month by month. No signup, no account, no forms.

WHAT YOU CAN CALCULATE
Monthly payment: enter the amount, the interest rate and the term, and see the payment straight away.
Total interest: see what the loan costs over its full life, not just per month.
Amortization schedule: a month-by-month table showing how much of each payment goes to principal, how much to interest, and the balance still owed. (Amortisation schedule, if you're in the UK.)

BUILD A LOAN FROM SEVERAL PARTS
Many mortgages are not one loan but several. LoanWise lets you model a loan as 2 to 4 separate parts, each with its own amount, rate, term and repayment method, then shows the combined monthly payment and the combined amortization schedule. Useful for a mortgage split between a fixed-rate part and a variable-rate part, or for comparing one loan structure with another.

THREE REPAYMENT METHODS
Equal payment: the same repayment every month. Early payments are mostly interest, later ones mostly principal.
Equal principal: the principal portion stays fixed, so the payment starts higher and falls over time.
Balloon: smaller regular payments and a large final payment.

THREE RATE TYPES
Fixed rate, variable rate and index-linked rate. For variable and index-linked parts, you enter the assumptions and LoanWise shows the result of those assumptions.

WHO IT IS FOR
Anyone who wants to understand a loan before signing for one: first-time home buyers working out a mortgage payment, borrowers comparing a 15-year term with a 30-year term, anyone checking how much interest a personal loan or car loan really adds up to, or what a new loan would cost before refinancing. It is a loan calculator for building intuition before you talk to a lender, not a quote and not a lender comparison.

WHAT IT DOES NOT DO
Calculations exclude taxes, insurance, fees and closing costs. Variable-rate and index-linked projections follow the assumptions you enter, not a market forecast. Results are estimates, not an offer from any financial institution.
LoanWise needs an internet connection; calculations run server-side.
LoanWise is not a bank, a lender, a mortgage broker or a regulated entity, and does not provide financial advice.

Developer: O.G Technology

Recent changes:
Save and reopen loan calculations from history. Export payment data as CSV. New piggy-bank animation replaces loading spinner for a better user experience.