Loan Calculator

Calculate monthly payments, total interest, and amortization schedule for mortgages, auto loans, and personal loans

How to Use the Loan Calculator

1

Loan Amount

Enter the total amount you want to borrow in dollars.

2

Interest Rate

Input the annual percentage rate (APR) from your lender.

3

Loan Term

Select repayment period in years or use quick presets.

4

View Results

Get monthly payments and amortization schedule.

Understanding Different Loan Types

Mortgage Loans

Long-term loans secured by real estate property, typically 15-30 years.

  • • Fixed or adjustable rates
  • • Lower interest rates (secured)
  • • Tax deductible interest

Auto Loans

Vehicle financing secured by the car itself, usually 3-7 years.

  • • Vehicle as collateral
  • • Competitive interest rates
  • • New vs. used car rates differ

Personal Loans

Unsecured loans for various purposes, typically 2-7 years.

  • • No collateral required
  • • Higher interest rates
  • • Flexible usage terms