Amorva - Loan Repayment Calculator
Amorva is a loan calculator that shows what a loan really costs. Enter the amount, annual interest rate and term, and it immediately shows the regular payment, the total interest, the total you will repay and the payoff date — for a mortgage, car loan, student loan, personal loan or anything else.
Interest is calculated on the remaining balance for each period, and you can choose between equal payments (the usual mortgage method, where every payment is the same) and equal principal (where the principal part is fixed and payments shrink over time). Payments can be monthly, biweekly, every two months, quarterly or yearly, and 0% loans are handled correctly.
Saved loans appear on the home screen with their payment and payoff date. For each loan you can open a full amortization schedule, see how principal and interest split in a chart, and try a prepayment scenario to see how much interest and time an extra payment would save. Up to three loans can be compared side by side.
The app runs entirely in your browser. What you enter is saved only on this device.
How to use Amorva
- Add a loan. Tap Add Loan, give it a name if you like, and pick the type (home, car, student, personal or other).
- Enter the numbers. Type the amount borrowed, the annual interest rate and the term in years and months. Choose equal payment or equal principal, the payment frequency, the currency and the start date. The result card at the bottom updates as you type.
- Save and review. Tap Save. Open the loan to see the payment, a principal-versus-interest chart, total interest, total repaid, number of payments and payoff date.
- Read the schedule. Tap Amortization Schedule to see each payment split into principal and interest, with the remaining balance after every payment.
- Try a prepayment. Tap Prepayment Simulation and enter an extra amount, either added to every payment from a chosen payment number or as a one-time lump sum. Amorva shows the interest saved, how much sooner you finish and the new payoff date, with a balance chart.
- Compare loans. On the Compare tab select up to three loans to see their payments, total interest, total cost and payoff dates next to each other.
Features
- Payment, total interest, total cost and payoff date
- Equal payment (annuity) and equal principal methods
- Monthly, biweekly, bimonthly, quarterly or yearly payments
- Correct handling of 0% interest
- Amortization schedule with balance after each payment
- Prepayment simulation: recurring extra payment or one-time lump sum
- Side-by-side comparison of up to three loans
- Up to three saved loans, many currencies
How loan repayment works
Equal payment versus equal principal
With equal payments (an annuity or level-payment loan), each payment is the same. Early on, most of it is interest because the balance is high; as the balance falls, more of each payment goes to principal. The payment is calculated as P × r ÷ (1 − (1 + r)^−n), where P is the amount borrowed, r the interest rate per period and n the number of payments. For example, 300,000 at 5% a year over 30 years with monthly payments gives r = 0.05 ÷ 12 and n = 360, and a payment of about 1,610.46.
With equal principal, the same slice of principal is repaid every time and interest is added on top, so the first payments are the highest and they fall steadily. Total interest is lower than with equal payments because the balance shrinks faster, but the early payments are harder on the budget.
Why the rate and term matter so much
Interest grows with both the rate and the time the money is outstanding. Doubling the term from 15 to 30 years lowers the payment but can roughly double the total interest. A difference of one percentage point on a long mortgage can change the total cost by tens of thousands. That is why it is worth comparing offers using total interest and total cost, not only the monthly payment.
The power of prepayment
Any extra amount paid early goes straight to principal, so every later period charges interest on a smaller balance. Even modest regular extra payments early in a loan can shorten it by years. Before prepaying, check whether your lender charges prepayment fees, whether extra payments reduce the term or the payment, and whether the money would be better used to pay off a higher-rate debt or to build an emergency fund.
What a calculator can't include
Real loans may include fees, insurance, taxes, variable rates and the lender's own rounding and day-count rules. The annual percentage rate (APR) quoted by lenders includes some fees and is the better figure for comparing offers. Use these results as estimates and confirm the exact figures with your lender.
Frequently asked questions
Is Amorva free in the browser?
Yes. Calculating, saving up to three loans, the schedule, prepayment simulation and comparing up to three loans work without an account.
Where are my loans stored?
Only in this browser on this device. Nothing is uploaded. Clearing site data for this website or using a private window deletes your saved loans.
Why does my lender's figure differ slightly?
Lenders may round each payment differently, count days instead of months, add fees or insurance, or use a variable rate. Small differences are normal.
Can it handle interest-free loans?
Yes. With a 0% rate the payment is simply the amount divided by the number of payments.
Can I export the schedule?
CSV and PDF export of the schedule are Premium features in the iPhone and Android app and are not available on the web.
How is the web version different from the phone app?
Calculations are the same. The app's Premium adds unlimited loans and comparisons, export and more scenarios; purchases are not available on the web.
Limitations of the web version
- Up to three saved loans and three loans in a comparison
- CSV and PDF export are app-only
- Fees, insurance, taxes and variable rates are not modelled
- Data is stored only in this browser
Disclaimer
Amorva provides estimates for planning purposes only and is not financial, legal or tax advice. Actual payments, interest and payoff dates depend on your lender's terms, fees, rounding and rate changes. Confirm all figures with your lender before making decisions.
Phone app
Amorva is also available as an app for phones and tablets: