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
- ✓ Principal: The amount borrowed
- ✓ Interest: Cost of borrowing money
- ✓ Term: Length of time to repay
- ✓ Amortization: Paying off debt in installments
Money-Saving Tips
- ✓ Improve credit score for better rates
- ✓ Make bi-weekly payments (26/year = 1 extra payment)
- ✓ Round up payments to pay off faster
- ✓ Refinance when rates drop