A loan calculator is a simple tool that will allow you to predict how much a personal loan will cost you as you pay it back every month. It’s quite simple: You provide the calculator with some basic information about the loan, and it does the math and spits out your monthly payment.
Multiply the amount you borrow by the annual interest rate. Then divide by the number of payments per year. There are other ways to arrive at that same result. Example (using the same loan as above): $100,000 times.06 = $6,000 per year of interest. 6,000 divided by 12 equals 0 monthly payments.
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Loans have four primary components: the amount, the interest rate, the number of periodic payments (the loan term) and a payment amount per period. You can use the PMT function to get the payment when you have the other 3 components. For this example, we want to find the payment for a $5000 loan with a 4.5% interest rate, and a term of 60 months.
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Use our mortgage calculator to estimate your monthly mortgage payment. You can input a different home price, down payment, loan term and interest rate to see how your monthly payment changes.
Repayment Period – We assume that you have just entered repayment and estimate your payments assuming that you still have the full repayment period to repay your loans. For example, we estimate your payments under the Extended Repayment Plan using a 25-year repayment period, even if you have less than 25 years remaining.
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Use our free mortgage calculator to quickly estimate what your new home will cost. Includes taxes, insurance, PMI and the latest mortgage rates.
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The Payment Calculator can determine the monthly payment amount or loan term for a fixed interest loan. Use the "Fixed Term" tab to calculate the monthly payment of a fixed term loan. Use the "Fixed Payments" tab to calculate the time to pay off a loan with a fixed monthly payment.
Use our free mortgage calculator to estimate your monthly mortgage payment, including your principal and interest, PMI, taxes, and insurance. See how your monthly payment changes by making updates.