Loans and Debt Calculators
A loan payment is only part of what borrowing costs. Your interest rate, fees and repayment schedule affect the total you pay and how long debt stays in your budget.
Use these calculators to compare offers, test payoff plans and decide what you can afford before you borrow. The results can help you prepare questions for a lender and choose a next step that fits your finances.
- Loan paymentCalculate the monthly payment and total interest on any fixed-rate loan.
- Personal loanSee the monthly payment and true cost of a personal loan, including fees.
- Boat loanEstimate payments on a boat loan.
- RV loanEstimate payments on an RV or camper loan.
- Motorcycle loanEstimate payments on a motorcycle loan.
- Student loanSee your student loan payment and how extra payments speed up payoff.
- Land loanEstimate payments on a land or lot loan.
- SBA loanEstimate payments on an SBA 7(a) loan.
- Auto loanCalculate your car payment with tax, trade-in and fees included.
- Car leaseWork out a lease payment the way dealers do.
- Car affordabilityTurn a monthly budget into an affordable car price.
- Auto refinanceCompare your current car loan to a refinance offer.
- Loan payoffSee when you'll be debt-free and what extra payments save.
- Credit card payoffFind your credit card payoff date or the payment needed to hit a goal.
- Credit card interestSee how much interest a card balance costs per month.
- Minimum paymentSee the real cost of making only the minimum payment.
- Debt snowballPlan your debt payoff with the snowball or avalanche method.
- Debt consolidationCheck whether a consolidation loan actually saves money.
- Debt-to-incomeCalculate the debt-to-income ratio lenders use to approve loans.
- APRFind the true annual cost of a loan once fees are counted.
- Interest rateWork out the rate a loan is charging you.
- Simple interestCalculate simple, non-compounding interest.
- Loan amountTurn a monthly payment into the loan amount it supports.
- Interest-only loanCompare the interest-only payment with the payment once principal is due.
- Balloon paymentSee the balloon payment due at the end of a loan amortized over a longer schedule.
- Business loanSee the monthly payment, total interest and real cost of a business loan, including origination fees.
How to calculate a loan payment and total borrowing cost
Start with Loan payment to estimate a fixed-rate loan’s monthly payment and total interest. If a lender charges fees, Personal loan and Business loan include those costs in the estimate. APR can help you compare a loan’s annual cost once fees are counted, while Interest rate works backward from a loan to find the rate it charges.
For a purchase, choose the calculator that matches the financing. Auto loan includes tax, trade-in and fees; Boat loan, RV loan, Motorcycle loan and Land loan estimate payments for those purchases. SBA loan estimates an SBA 7(a) payment. Compare the result with your budget before signing, and consider asking the lender whether a different term or down payment changes the cost.
How to check whether a loan or car fits your budget
Car affordability turns a monthly budget into an affordable car price. Use Auto loan to estimate the payment after taxes, trade-in and fees, then compare the two before choosing a vehicle. Car lease works out a lease payment using the dealer-style approach, so you can compare leasing with financing.
Debt-to-income calculates the ratio lenders use when reviewing loan applications. Use it to understand how existing debt may affect a borrowing decision. If you are considering a new loan, compare its payment with your current obligations and leave room in your budget for other expenses.
How to pay off debt faster and reduce interest
Loan payoff shows when a loan could be paid off and what extra payments may save. Student loan also lets you see how extra payments affect payoff. For credit cards, Credit card payoff estimates a payoff date or the payment needed to reach a goal. Credit card interest shows the monthly cost of a balance, and Minimum payment shows the longer-term cost of paying only the minimum.
If you have several balances, Debt snowball helps you plan a snowball or avalanche payoff approach. Debt consolidation lets you check whether a new loan actually saves money after costs. Compare the full cost and payoff timeline, not only the new monthly payment. Auto refinance can show how an offer compares with your current car loan.
Questions
Which calculator should you use to compare loan offers?
Start with Loan payment for fixed-rate payment and interest estimates. If fees apply, use Personal loan or Business loan to include them, and compare APR to assess annual cost with fees counted.
How can you find out whether extra payments will help?
Use Loan payoff or Student loan to see how extra payments can change the payoff timeline and interest cost. Check that the loan terms allow extra payments without a fee.
Does a lower monthly payment mean a cheaper loan?
Not necessarily. A longer repayment schedule can lower the monthly payment while increasing total interest. Compare the payment, fees, total cost and payoff timeline before choosing.
Before you act. These calculators and guides are educational estimates, not professional advice. Review any decision with a licensed loan officer or a nonprofit credit counselor who can look at your full situation.