Loan Calculator
Loan Calculator Free Online

Home Improvement Loan Calculator

Calculate your home improvement loan payments with origination fees and extra payments

$
%
months
$

Origination Fee

%

Monthly Payment

$297

120 payments

Loan Summary

Loan Amount$25,000
Origination Fee$750
Net Amount Received$24,250
Monthly Payment$297
Total Interest$10,611
Payoff DateOct 28, 2035
Total Cost$35,611

Amortization Schedule

Payment #DateBeginning BalancePaymentPrincipalInterestExtraEnding Balance
1Nov 28, 2025$25,000$297$141$156$0$24,859
2Dec 28, 2025$24,859$297$141$155$0$24,718
3Jan 28, 2026$24,718$297$142$154$0$24,576
4Feb 28, 2026$24,576$297$143$154$0$24,433
5Mar 28, 2026$24,433$297$144$153$0$24,289
6Apr 28, 2026$24,289$297$145$152$0$24,144
7May 28, 2026$24,144$297$146$151$0$23,998
8Jun 28, 2026$23,998$297$147$150$0$23,851
9Jul 28, 2026$23,851$297$148$149$0$23,703
10Aug 28, 2026$23,703$297$149$148$0$23,555
11Sep 28, 2026$23,555$297$150$147$0$23,405
12Oct 28, 2026$23,405$297$150$146$0$23,255
13Nov 28, 2026$23,255$297$151$145$0$23,103
14Dec 28, 2026$23,103$297$152$144$0$22,951
15Jan 28, 2027$22,951$297$153$143$0$22,798
16Feb 28, 2027$22,798$297$154$142$0$22,643
17Mar 28, 2027$22,643$297$155$142$0$22,488
18Apr 28, 2027$22,488$297$156$141$0$22,332
19May 28, 2027$22,332$297$157$140$0$22,175
20Jun 28, 2027$22,175$297$158$139$0$22,017
21Jul 28, 2027$22,017$297$159$138$0$21,857
22Aug 28, 2027$21,857$297$160$137$0$21,697
23Sep 28, 2027$21,697$297$161$136$0$21,536
24Oct 28, 2027$21,536$297$162$135$0$21,374
25Nov 28, 2027$21,374$297$163$134$0$21,211
26Dec 28, 2027$21,211$297$164$133$0$21,047
27Jan 28, 2028$21,047$297$165$132$0$20,881
28Feb 28, 2028$20,881$297$166$131$0$20,715
29Mar 28, 2028$20,715$297$167$129$0$20,548
30Apr 28, 2028$20,548$297$168$128$0$20,380
31May 28, 2028$20,380$297$169$127$0$20,210
32Jun 28, 2028$20,210$297$170$126$0$20,040
33Jul 28, 2028$20,040$297$172$125$0$19,868
34Aug 28, 2028$19,868$297$173$124$0$19,696
35Sep 28, 2028$19,696$297$174$123$0$19,522
36Oct 28, 2028$19,522$297$175$122$0$19,347
37Nov 28, 2028$19,347$297$176$121$0$19,171
38Dec 28, 2028$19,171$297$177$120$0$18,995
39Jan 28, 2029$18,995$297$178$119$0$18,817
40Feb 28, 2029$18,817$297$179$118$0$18,637
41Mar 28, 2029$18,637$297$180$116$0$18,457
42Apr 28, 2029$18,457$297$181$115$0$18,276
43May 28, 2029$18,276$297$183$114$0$18,093
44Jun 28, 2029$18,093$297$184$113$0$17,909
45Jul 28, 2029$17,909$297$185$112$0$17,725
46Aug 28, 2029$17,725$297$186$111$0$17,539
47Sep 28, 2029$17,539$297$187$110$0$17,352
48Oct 28, 2029$17,352$297$188$108$0$17,163
49Nov 28, 2029$17,163$297$189$107$0$16,974
50Dec 28, 2029$16,974$297$191$106$0$16,783
51Jan 28, 2030$16,783$297$192$105$0$16,591
52Feb 28, 2030$16,591$297$193$104$0$16,398
53Mar 28, 2030$16,398$297$194$102$0$16,204
54Apr 28, 2030$16,204$297$195$101$0$16,008
55May 28, 2030$16,008$297$197$100$0$15,812
56Jun 28, 2030$15,812$297$198$99$0$15,614
57Jul 28, 2030$15,614$297$199$98$0$15,415
58Aug 28, 2030$15,415$297$200$96$0$15,214
59Sep 28, 2030$15,214$297$202$95$0$15,013
60Oct 28, 2030$15,013$297$203$94$0$14,810
61Nov 28, 2030$14,810$297$204$93$0$14,605
62Dec 28, 2030$14,605$297$205$91$0$14,400
63Jan 28, 2031$14,400$297$207$90$0$14,193
64Feb 28, 2031$14,193$297$208$89$0$13,985
65Mar 28, 2031$13,985$297$209$87$0$13,776
66Apr 28, 2031$13,776$297$211$86$0$13,565
67May 28, 2031$13,565$297$212$85$0$13,353
68Jun 28, 2031$13,353$297$213$83$0$13,140
69Jul 28, 2031$13,140$297$215$82$0$12,925
70Aug 28, 2031$12,925$297$216$81$0$12,709
71Sep 28, 2031$12,709$297$217$79$0$12,492
72Oct 28, 2031$12,492$297$219$78$0$12,273
73Nov 28, 2031$12,273$297$220$77$0$12,053
74Dec 28, 2031$12,053$297$221$75$0$11,832
75Jan 28, 2032$11,832$297$223$74$0$11,609
76Feb 28, 2032$11,609$297$224$73$0$11,385
77Mar 28, 2032$11,385$297$226$71$0$11,159
78Apr 28, 2032$11,159$297$227$70$0$10,932
79May 28, 2032$10,932$297$228$68$0$10,704
80Jun 28, 2032$10,704$297$230$67$0$10,474
81Jul 28, 2032$10,474$297$231$65$0$10,243
82Aug 28, 2032$10,243$297$233$64$0$10,010
83Sep 28, 2032$10,010$297$234$63$0$9,776
84Oct 28, 2032$9,776$297$236$61$0$9,540
85Nov 28, 2032$9,540$297$237$60$0$9,303
86Dec 28, 2032$9,303$297$239$58$0$9,064
87Jan 28, 2033$9,064$297$240$57$0$8,824
88Feb 28, 2033$8,824$297$242$55$0$8,583
89Mar 28, 2033$8,583$297$243$54$0$8,339
90Apr 28, 2033$8,339$297$245$52$0$8,095
91May 28, 2033$8,095$297$246$51$0$7,849
92Jun 28, 2033$7,849$297$248$49$0$7,601
93Jul 28, 2033$7,601$297$249$48$0$7,352
94Aug 28, 2033$7,352$297$251$46$0$7,101
95Sep 28, 2033$7,101$297$252$44$0$6,849
96Oct 28, 2033$6,849$297$254$43$0$6,595
97Nov 28, 2033$6,595$297$256$41$0$6,339
98Dec 28, 2033$6,339$297$257$40$0$6,082
99Jan 28, 2034$6,082$297$259$38$0$5,823
100Feb 28, 2034$5,823$297$260$36$0$5,563
101Mar 28, 2034$5,563$297$262$35$0$5,301
102Apr 28, 2034$5,301$297$264$33$0$5,037
103May 28, 2034$5,037$297$265$31$0$4,772
104Jun 28, 2034$4,772$297$267$30$0$4,505
105Jul 28, 2034$4,505$297$269$28$0$4,236
106Aug 28, 2034$4,236$297$270$26$0$3,966
107Sep 28, 2034$3,966$297$272$25$0$3,694
108Oct 28, 2034$3,694$297$274$23$0$3,421
109Nov 28, 2034$3,421$297$275$21$0$3,145
110Dec 28, 2034$3,145$297$277$20$0$2,868
111Jan 28, 2035$2,868$297$279$18$0$2,589
112Feb 28, 2035$2,589$297$281$16$0$2,309
113Mar 28, 2035$2,309$297$282$14$0$2,026
114Apr 28, 2035$2,026$297$284$13$0$1,742
115May 28, 2035$1,742$297$286$11$0$1,456
116Jun 28, 2035$1,456$297$288$9$0$1,169
117Jul 28, 2035$1,169$297$289$7$0$879
118Aug 28, 2035$879$297$291$5$0$588
119Sep 28, 2035$588$297$293$4$0$295
120Oct 28, 2035$295$297$295$2$0$0

Understanding Home Improvement Loans: A Complete Guide

Home improvement loans are a popular way to finance renovations, repairs, and upgrades to your property. Our Home Improvement Loan Calculator helps you understand the true cost of borrowing, including origination fees, extra payments, and how different loan terms affect your monthly budget.

💡 What Is a Home Improvement Loan?

A home improvement loan is a personal loan specifically designed to fund home renovations, repairs, or upgrades. Unlike home equity loans, these loans are typically unsecured and don't require using your home as collateral.

These loans are ideal for projects like kitchen remodels, bathroom renovations, roof repairs, HVAC upgrades, or any home improvement that adds value to your property.

🧮 How Our Calculator Works

Our calculator uses the standard amortization formula to provide accurate payment calculations:

Monthly Payment = P × [r(1+r)^n] / [(1+r)^n - 1]

Where P = Principal, r = Monthly Rate, n = Number of Payments

Key Features:

  • • Origination fee calculations
  • • Extra payment options
  • • Complete amortization schedule
  • • Net amount received calculation

Example Calculation:

  • • Loan Amount: $25,000
  • • Interest Rate: 7.5%
  • • Term: 120 months
  • • Origination Fee: 3%

💰 Understanding Origination Fees

Origination fees are upfront costs charged by lenders to process your loan. Our calculator handles two types:

Deducted from Loan

The fee is subtracted from your loan amount, reducing the net amount you receive but keeping your monthly payment based on the full loan amount.

Upfront Payment

You pay the fee separately at loan closing, receiving the full loan amount but having additional upfront costs.

🚀 Benefits of Extra Payments

Making extra payments can significantly reduce your total interest and loan term:

  • ✓Reduce total interest paid over the life of the loan
  • ✓Pay off your loan faster
  • ✓Build equity in your home faster
  • ✓Improve your debt-to-income ratio

📊 How Our Calculator Helps You

Our Home Improvement Loan Calculator provides comprehensive insights:

  • • Accurate monthly payment calculations
  • • Complete amortization schedule
  • • Origination fee impact analysis
  • • Extra payment savings calculator
  • • Net amount received calculations

🧠 Final Thoughts

Before taking out a home improvement loan, it's crucial to understand all the costs involved. Our calculator helps you see the complete picture, including origination fees, interest costs, and the impact of extra payments.

Whether you're planning a small renovation or a major home upgrade, use our calculator to make informed decisions about your financing options and budget accordingly.