A single payment quote answers one question. A payment table answers the next ten: what if the rate is a quarter point higher, what if I take 20 years instead of 30, how much would locking a lower rate actually save? This loan payment table builds a full grid for any loan amount so you can see how rate and term interact before you talk to a lender.
How to use the loan payment table
- Enter the loan amount.
- List the terms you want to compare, separated by commas, and say whether they are in years or months.
- Set the lowest rate, the rate step between rows and the number of rates.
- Read the payment grid, the total-interest grid and the chart of payment versus rate for each term.
How each cell is calculated
Every cell uses the standard fixed-rate payment formula:
where P is the loan amount, r is the row’s annual rate ÷ 12 and n is the column’s term in months. Total interest is M × n − P.
Worked example
With the default settings — $250,000, terms of 10 to 30 years and rates from 5% to 7% in quarter-point steps — a few cells stand out:
6% for 30 years: r = 0.005, n = 360, (1.005)360 = 6.0226, so M = 250,000 × 0.005 × 6.0226 ÷ 5.0226 = $1,498.88.
6% for 15 years: $2,109.64 — $610.76 more a month, but $159,859.90 less interest ($129,735.57 vs. $289,595.47).
Each quarter point adds about $40 a month on the 30-year loan.
Sample payments per $100,000
Payments scale in proportion to the loan amount, so this compact table is easy to multiply for your own number:
| Rate | 15 years | 20 years | 30 years |
|---|---|---|---|
| 5% | $790.79 | $659.96 | $536.82 |
| 6% | $843.86 | $716.43 | $599.55 |
| 7% | $898.83 | $775.30 | $665.30 |
A $350,000 loan at 6% for 30 years, for example, costs about 3.5 × $599.55 ≈ $2,098 a month.
Using the grid to make decisions
Pricing a rate buydown
Lenders often let you pay discount points to lower the rate. Compare the payment at the quoted rate with the payment a quarter or half point lower, then divide the cost of the points by the monthly difference to see how many months it takes to recover.
Choosing a term
Look across a row. Shorter terms carry higher payments, but the interest grid shows how dramatically they cut lifetime cost. Pick the shortest term whose payment fits comfortably in your budget, and remember you can always prepay a longer loan.
Stress-testing a variable rate
If a rate could reset higher, read down a column to see what the payment would be two or three steps up. The loan calculator and amortization calculator take any single cell further with a full schedule.
Figures are estimates of principal and interest only. Taxes, insurance, fees and lender rounding are not included.
Frequently asked questions
How do I read a loan payment table?
Find the row for your interest rate and the column for your loan term; the cell is the monthly principal-and-interest payment. The second table uses the same layout to show the total interest you would pay over the life of the loan.
What is the payment per $1,000 borrowed?
It is the monthly payment divided by the loan amount in thousands. At 6% for 30 years it is about $6.00, so a $250,000 loan costs roughly 250 × $6.00 = $1,500 a month. Lenders and shoppers use it to scale payments quickly to any loan size.
Which matters more, the rate or the term?
For the monthly payment, the term usually matters more: going from 30 to 15 years raises the payment far more than a one-point rate change. For total interest, both matter a lot. On $250,000, the 30-year interest at 7% is $348,772 versus $105,857 for 15 years at 5%.
Can I use this for car or personal loans?
Yes. Switch the terms to months, enter values such as 36, 48, 60, 72 and choose a rate range that fits auto or personal loans.