This loan calculator will help you determine the monthly payments on a loan. Simply enter the loan amount, term and interest rate in the fields below and click calculate. This Calculator can be used for Home Loan, Car Loan & Personal Loan
Bankrate’s mortgage calculator gives you a monthly payment estimate after you input the home price, your down payment, the interest rate and length of the loan term. Use the calculator to price different scenarios. You might discover you need to adjust your down payment to keep your monthly payments affordable. You can also see the loan amortization schedule, or how your debt is reduced over time with monthly principal and interest payments. If you want to pay off a mortgage before the loan term is over, you can use the calculator to figure out how much more you must pay each month to achieve your goal.
An auto loan is a secured loan used to buy a car. The auto loan calculator lets you estimate monthly payments, see how much total interest you’ll pay and the loan amortization schedule. The calculator doesn’t account for costs such as taxes, documentation fees and auto registration. Plan on adding about 10 percent to your estimate.
A student loan is an unsecured loan from either the federal government or a private lender. Borrowers must qualify for private student loans. If you don’t have an established credit history, you may not find the best loan. Bankrate’s student loan calculator will show you how long it will take to pay off your loan and how much interest it will cost you. The college savings calculator will help you set savings goals for the future.
A personal loan is an unsecured, lump-sum loan that is repaid at a fixed rate over a specific period of time. It is a flexible loan because it can be used to consolidate debt, pay off higher-interest credit cards, make home improvements, pay for a wedding or a vacation, buy a boat, RV or make some other big purchase. The personal loan calculator lets you estimate your monthly payments based on how much you want to borrow, the interest rate, how much time you have to pay it back, your credit score and income.
If you have good to excellent credit, aren’t weighed down by a lot of debt and have assets or a steady income, you can probably qualify for most any type of loan. Use loan calculators to answer your questions and help you shop and compare so that you get the best loan at the best price and terms for your budget.