Loan Calculator
Calculate monthly payments, total interest, and amortization
Note: This calculator uses standard amortization formula. Actual loan terms may vary by lender.
Loan Guide
Understanding Loans
- β Principal: The amount borrowed
- β Interest: Cost of borrowing money
- β Term: Length of time to repay
- β Amortization: Paying off debt in installments
Money-Saving Tips
- β Improve credit score for better rates
- β Make bi-weekly payments (26/year = 1 extra payment)
- β Round up payments to pay off faster
- β Refinance when rates drop