Overview
Loan Payment Calculator works by using the loan amount, interest rate, and loan term to calculate the monthly loan payment, total interest, and more. On paid plans, add an extra monthly payment to see how many months and how much interest it saves, a start date to get payoff dates, a biweekly or weekly frequency to get the payment on that schedule, and upfront fees to get the true APR.
Live Test Calculate Loan Payments Source →
Formula
One function covers the whole catalog: the first argument names the source, the next are its inputs, and the field after them says which single value lands in the cell. Formulas covers the grammar that applies to all of them.
=VERVE("loanpaymentcalculator", A2, B2, C2, "monthly_payment")=VERVE.CALL("loanpaymentcalculator", A2, B2, C2, "monthly_payment")A2 holds loanAmount, B2 holds interestRate, C2 holds loanTerm. Arguments go in that order — the same order as the table below.
With literal values
Nothing has to come from a cell — typed values work the same way.
=VERVE("loanpaymentcalculator", 20000, 5.5, 5, "monthly_payment")=VERVE.CALL("loanpaymentcalculator", 20000, 5.5, 5, "monthly_payment")Inputs
Required inputs are positional, in the order below, followed by the field. Everything else is passed as a "name", value pair after that — the same shape as SUMIFS. Premium inputs are accepted on every plan but only take effect on plans that include them.
| Input | Type | Where it goes | Description |
|---|---|---|---|
loanAmountRequired | number | argument 2 (A2) | The loan amount range 0–∞ |
interestRateRequired | number | argument 3 (B2) | The interest rate (percentage) range 0–100 |
loanTermRequired | integer | argument 4 (C2) | The loan term in years range 1–50 |
downpaymentOptional | number | "downpayment", value | Amount paid up front, subtracted from the loan amount before interest is applied range 0–∞ |
extraPaymentOptionalPremium | number | "extraPayment", value | Extra principal paid every month. Adds an extra_payment block with the early payoff month, months saved and interest saved range 0–∞ |
startDateOptionalPremium | string | "startDate", value | Loan start date (YYYY-MM-DD), with the first payment one month later. Adds the payoff date date |
paymentFrequencyOptionalPremium | string | "paymentFrequency", value | Also price the loan on a biweekly (26 a year) or weekly (52 a year) schedule. Adds a payment_frequency block; monthly figures are unchangedmonthlybiweeklyweeklydefault monthly |
feesOptionalPremium | number | "fees", value | Upfront fees deducted from the amount the borrower receives (origination, closing). Adds the APR including those fees range 0–∞ |
Passing an option
=VERVE("loanpaymentcalculator", A2, B2, C2, "monthly_payment", "downpayment", 5000)=VERVE.CALL("loanpaymentcalculator", A2, B2, C2, "monthly_payment", "downpayment", 5000)What lands in your sheet
The field — the argument after the inputs — is what makes the formula resolve to one cell. Its value is a dot-path from the table below, so swapping it is how you pull a different value — one formula per column.
Seeing everything at once
Leave the field out and the formula returns the whole response instead: two columns, field name on the left and value on the right, spilling from the cell you typed in.
=VERVE("loanpaymentcalculator", A2, B2, C2)=VERVE.CALL("loanpaymentcalculator", A2, B2, C2)The second row's table would land on top of the first's, and every cell after the first reads #REF! (#SPILL! in Excel). Keep one per sheet, or name a field, and leave the cells below and to the right empty.
Response fields
Paths are relative to data. Each one is exactly what the field argument accepts, so swapping it is how you pull a different value into a cell. On a plan without a Premium field the cell reads #PREMIUM(field) rather than a value, so a locked field never looks like a real answer.
| Use as the field | Type | Example cell value | Description |
|---|---|---|---|
loanAmount | number | 32000 | Original loan amount in dollars |
downpayment | number | 0 | Down payment amount applied to loan |
interestRate | number | 8.5 | Annual interest rate as percentage |
loanTerm | number | 6 | Loan repayment period in years |
monthly_payment | number | 568.91 | Required monthly loan payment amount |
total_interest_paid | number | 8961.4 | Total interest paid over loan term |
total_payment | number | 40961.4 | Total amount paid over entire loan term |
interestRatio | number | 21.88 | Percentage of total payment allocated to interest |
formatted | object | {…} | Loan amount and payment totals as dollar strings |
formatted.loanAmountPremium | string | $32,000.00 | Formatted loan amount with currency symbol |
formatted.monthlyPaymentPremium | string | $568.91 | Formatted monthly payment with currency symbol |
formatted.totalInterestPaidPremium | string | $8,961.40 | Formatted total interest paid with currency |
formatted.totalPaymentPremium | string | $40,961.40 | Formatted total payment amount with currency |
amortization_schedulePremium | array[3] | Month-by-month breakdown of payments and balances | |
amortization_schedule.0.monthPremium | number | 1 | Payment period month number |
amortization_schedule.0.interest_paymentPremium | number | 226.67 | Interest portion of monthly payment |
amortization_schedule.0.principal_paymentPremium | number | 342.24 | Principal portion of monthly payment |
amortization_schedule.0.remaining_balancePremium | number | 31657.76 | Outstanding loan balance after payment |
payoff_datePremium | string | 2032-12-01 | Date of the final scheduled payment (YYYY-MM-DD), when startDate is given |
extra_paymentPremium | object | {…} | Payoff plan with the extra monthly payment applied, when extraPayment is given |
extra_payment.extra_monthly_paymentPremium | number | 100 | Extra principal paid each month |
extra_payment.monthly_paymentPremium | number | 668.91 | Monthly payment including the extra amount |
extra_payment.payoff_monthsPremium | number | 59 | Months until the loan is paid off with the extra payment |
extra_payment.months_savedPremium | number | 13 | Months cut from the scheduled term |
extra_payment.total_interest_paidPremium | number | 7214.73 | Total interest paid with the extra payment |
extra_payment.total_paymentPremium | number | 39214.73 | Total paid with the extra payment |
extra_payment.interest_savedPremium | number | 1746.67 | Interest saved compared with the scheduled loan |
extra_payment.payoff_datePremium | string | 2031-11-01 | Early payoff date (YYYY-MM-DD), when startDate is given |
extra_payment.amortization_schedulePremium | array[3] | Month-by-month schedule with the extra payment applied, same row shape as amortization_schedule | |
extra_payment.amortization_schedule.0.monthPremium | number | 1 | |
extra_payment.amortization_schedule.0.interest_paymentPremium | number | 226.67 | |
extra_payment.amortization_schedule.0.principal_paymentPremium | number | 442.24 | |
extra_payment.amortization_schedule.0.remaining_balancePremium | number | 31557.76 | |
payment_frequencyPremium | object | {…} | The loan priced on a biweekly or weekly schedule, when paymentFrequency is biweekly or weekly |
payment_frequency.frequencyPremium | string | biweekly | biweekly or weekly |
payment_frequency.payments_per_yearPremium | number | 26 | Payments a year (26 or 52) |
payment_frequency.number_of_paymentsPremium | number | 156 | Payments over the loan term |
payment_frequency.paymentPremium | number | 262.19 | Payment due each period |
payment_frequency.total_interest_paidPremium | number | 8901.77 | Total interest on this schedule |
payment_frequency.total_paymentPremium | number | 40901.77 | Total paid on this schedule |
payment_frequency.interest_savedPremium | number | 59.62 | Interest saved compared with monthly payments |
feesPremium | number | 800 | Upfront fees used for the APR, when fees is given |
aprPremium | number | 9.419 | Annual percentage rate including upfront fees |
Filling a whole column
Both platforms make one batched call for a column rather than one request per cell, and both cost the same — 2 credits per row looked up. How you write it differs, because the two runtimes batch at different points.
=VERVE("loanpaymentcalculator", A2:A100, B2:B100, C2:C100, "monthly_payment")In Google Sheets, give the arguments ranges and the answers spill down from the cell you typed in. Custom functions there run synchronously and in isolation, so dragged cells cannot be coalesced — the range form is how a column becomes one call. The field is required here: a per-row two-column table has nowhere to spill. Use a full column per input (A2:A100, not A2) — a single-cell reference is read as row 1 only and the rest of the column comes back blank.
In Excel, type the formula once and fill down — no range form and none needed, because its runtime is asynchronous and the add-in coalesces the calls a fill produces into a single batched request. Do not hand VERVE.CALL a range: Excel flattens it into positional arguments, so A2:A100 arrives as a hundred separate arguments and the cell reads #ERR rather than filling.
Either way, column A holds your loanAmount values and the answers land beside them, one row each, blank rows skipped.
When a cell doesn't fill
A failed lookup returns readable text starting with #ERR rather than a spreadsheet error, because Excel cannot show a custom message on a real error — you would get a bare #VALUE! with no reason. The trade-off is that IFERROR() will not catch it; test with LEFT(cell, 4) = "#ERR" instead. Error handling covers the rest.
| Cell reads | What happened |
|---|---|
#ERR Not connected | No API key saved. Open the side panel and connect your account. |
#ERR Replace <name> with a cell or value | A preview formula was copied as-is. Swap the placeholder for a cell reference. |
#ERR No "x" in loanpaymentcalculator | An option name this source does not take. The message lists the ones it does. |
#ERR No data point "…" | The field path is not in the response. Check it against the table above. |
#PREMIUM(field) | The field exists but your plan does not include it. |
#ERR Out of credits | The cycle's credits are spent. Usage resets on your billing date. |
Before the formula works
The add-in reads the API key you saved once in the side panel — the key never goes in the formula, so a shared sheet does not leak it and a collaborator without access simply sees the last calculated values.
- Install the add-in for Google Sheets or Excel.
- Open the side panel and sign in, or paste a key from your dashboard.
- Type the formula above into any cell.
Use cases
- Dealership Payment Calculators
- On dealership sites and auto marketplace listings, buyers test different down payment amounts to preview their estimated monthly installment and overall interest obligations.
- Property Affordability Screening
- To help home shoppers budget for properties, mortgage lead-generation sites generate expected monthly payments and lifetime repayment totals for selected terms.
- Debt Consolidation Comparisons
- Personal finance apps calculate total interest paid and interest ratios to show users how refinancing balances changes their monthly repayment burden.
- Loan Origination Portals
- Before issuing a borrowing contract, lending software computes total repayment commitments and required monthly installments from applicant term lengths and rates.
Other ways to use Calculate Loan Payments
Set up Calculate Loan Payments on VerveSheets, or reach the same source a different way. Your VerveSheets account and credits work on all of them — one key, one balance.
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