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Loan calculator
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About this tool
Estimate a fixed-rate loan using equal-payment or equal-principal repayment over a specified number of months.
Common uses
- Estimate a fixed-rate loan using equal-payment or equal-principal repayment over a specified number of months.
- Enter principal, annual interest rate, and an integer term from 1 to 600 months.
How to use it
- 1.Enter principal, annual interest rate, and an integer term from 1 to 600 months.
- 2.Select the repayment method and inspect payment amounts, total interest, and total repayment.
Limits and notes
- The monthly rate is annual rate divided by 12; principal is capped at 10^12 and annual rate at 100%. Fees, changing rates, and lender-specific rounding are not included.
Frequently asked questions
What does this tool do?
Estimate a fixed-rate loan using equal-payment or equal-principal repayment over a specified number of months.
What should I check before using the result?
The monthly rate is annual rate divided by 12; principal is capped at 10^12 and annual rate at 100%. Fees, changing rates, and lender-specific rounding are not included.