Loan Calculator
NewCalculate loan payments with advanced options
How to Use Loan Calculator
- 1Select loan type: Mortgage, Auto, Personal, or Student.
- 2Enter loan amount, interest rate, and loan term.
- 3Toggle "Advanced Options" for down payment, taxes, insurance, and PMI.
- 4View monthly payment, total interest, and payoff date.
- 5Show amortization schedule to see payment breakdown.
Features
- ✓Calculate payments for mortgage, auto, personal, and student loans
- ✓Detailed amortization schedule showing principal vs interest
- ✓Advanced options: down payment, property tax, insurance, PMI
- ✓Extra payment calculator to see payoff time reduction
- ✓Multiple payment frequencies: monthly, bi-weekly, weekly
Frequently Asked Questions
What is PMI?▼
Private Mortgage Insurance (PMI) is required for conventional loans with less than 20% down payment. It protects the lender if you default.
How do extra payments affect my loan?▼
Extra payments reduce the principal faster, decreasing total interest paid and shortening the loan term.
What is an amortization schedule?▼
A table showing each payment's breakdown between principal and interest, and the remaining balance over the life of the loan.
