Create New Loan

Set up a new loan to start tracking your payments

We encourage you to reach out if you need us to support any new features or loan types. We're happy to work on it! Contact us

Create New Loan

Loan Name

Leave blank to auto-generate a unique name (e.g., Loan #1, Loan #2, etc.)

Your Role in this Loan

I am the Lender (I'm lending money)

I am the Borrower (I'm borrowing money)

Currency

Loan Amount ($)

Payment Frequency

Duration (Months)

Interest Rate (%) (Optional)

Extra Payment Strategy

Shorten loan term (keep payment the same)

Extra payments reduce the outstanding balance; the regular payment stays the same and the loan is paid off earlier. Standard for mortgages.

Reduce payment amount (keep term the same)

Extra payments lower the next scheduled payment amount while keeping the original end date.

First Payment Date

This is when your first loan payment will be due. Past dates are allowed for running loans.

Interest runs from Oct 12, 2026: your first payment includes a month of interest.

Grace period (Optional)

Turn this on if the money went out well before repayment starts, for example lent in January with the first payment in July. Interest over that gap is added to the loan.

About the Calculations

Loan Type

This calculator uses the annuity method, where your monthly payment remains constant throughout the loan term. Each payment consists of two parts: interest and principal repayment. Initially, a larger portion goes to interest, but as the principal decreases over time, more of each payment goes toward paying off the principal.

Rounding Method

Monthly payments are calculated using the annuity method and rounded up to the nearest cent. This ensures the loan will be fully repaid by rounding in favor of the lender, which is standard practice in mortgage calculations.

Important Legal Disclaimer

This tool generates loan agreement templates for informational purposes only. They are not a substitute for the advice of an attorney. Family Loan Tracker is not a law firm, financial institution, tax advisor or licensed financial advisor, and we do not provide legal, tax or financial advice. For large amounts, secured loans or complex situations, have a qualified attorney review the agreement.

For more information about our editorial practices and limitations, please read our Editorial Policy.