Loan Calculators
Compare loan options, calculate monthly payments, and understand the true cost of borrowing with our comprehensive suite of loan calculators.
Loan Calculator
Calculate monthly payments, total interest, and view complete amortization schedules for any loan type.
Calculate →Mortgage Calculator
Estimate monthly mortgage payments including principal, interest, taxes, and insurance (PITI).
Calculate →Mortgage Payment Calculator
Get a detailed mortgage payment breakdown with a complete amortization schedule showing principal vs. interest.
Calculate →Personal Loan Calculator
Calculate personal loan payments and see the total cost of borrowing for unsecured loans.
Calculate →Auto Loan Calculator
Calculate monthly car payments, compare financing options, and see total vehicle cost with interest.
Calculate →Student Loan Calculator
Calculate student loan payments, estimate payoff time, and compare repayment strategies.
Calculate →Business Loan Calculator
Calculate business loan payments, total interest costs, and view detailed amortization schedules for commercial financing.
Calculate →APR Calculator
Compare annual percentage rates across loans, including fees and points, to find the true cost of borrowing.
Calculate →Understanding Loan Calculations
How Loan Payments Are Calculated
Monthly loan payments are calculated using the loan amount, interest rate, and term. Our calculators use the standard amortization formula to show you exactly how much you'll pay each month and over the life of the loan.
Interest Rate vs. APR
The interest rate is the cost of borrowing money, while APR (Annual Percentage Rate) includes the interest rate plus other fees. APR gives you a more complete picture of what a loan actually costs.
Amortization Explained
Amortization is the process of paying off a loan through regular payments. Early payments go mostly toward interest, while later payments pay down more principal. Our calculators show you this breakdown over time.
Tips for Lower Payments
To reduce monthly payments, you can: extend the loan term (increases total interest), make a larger down payment, improve your credit score for better rates, or shop around for competitive offers.
Frequently Asked Questions
What is the difference between a fixed and variable interest rate?
A fixed interest rate stays the same throughout the loan term, providing predictable monthly payments. A variable (or adjustable) rate can change over time based on market conditions, which may result in lower initial payments but potential increases later.
How does loan term affect my payments?
A longer loan term means lower monthly payments but more total interest paid over time. A shorter term means higher monthly payments but less total interest and faster payoff. Use our calculators to compare different term lengths.
What credit score do I need for the best loan rates?
Generally, a credit score of 740 or higher qualifies you for the best rates on most loans. Scores between 670-739 are considered "good" and still get competitive rates. Lower scores may require higher rates or additional requirements.
Should I pay off my loan early?
Paying off a loan early can save you significant interest, but check for prepayment penalties first. Some loans charge fees for early payoff. If there's no penalty, making extra payments toward principal can reduce total interest paid substantially.