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Calculators > Loan and mortgage calculator 

Loan and Mortgage Calculator

Click the above link to open the calculator in a new window.

See how much interest you can save by paying down your debt more quickly!  Input up to 3 different payment options for your loan/mortgage, to see a side-by-side comparison.  See how much sooner your debt will be repaid if you increase your regular payment.

bullet payment frequencies:
bullet weekly
bullet bi-weekly
bullet semi-monthly
bullet monthly
bullet semi-annually
bullet annually
bullet accepts amortization periods of up to 40 years, in months or years
bullet allows various compounding frequencies:
bullet annually
bullet semi-annually
bullet monthly
bullet daily
bullet shows the effective interest rate
bullet shows interest savings when regular payments are increased
bullet allows input of an extra payment annually
bullet shows how much sooner the debt will be repaid with increased payments
bullet shows the outstanding loan balance at any point in the future based on input by the user

See our glossary article which explains nominal and effective interest rates, and compound interest.

Tax tips:

Pay yourself first!

Pay down all non-tax-deductible debt with over 8% interest, then see our Save and Invest page.

Check out our other calculators.

 

Revised: June 21, 2016

 

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