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