Loan Calculator

Calculate your loan payments, interest, and amortization schedule with our easy-to-use tool.

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Loan Calculator

Loan Details

Loan Amount ($)

Interest Rate (%)

Loan Term

Start Date

Payment Frequency

Loan Summary

Enter loan details and click "Calculate" to see results

Amortization Schedule

Payment #	Date	Payment	Principal	Interest	Remaining

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How Our Loan Calculator Works

Understanding Loan Calculations

Our loan calculator uses standard financial formulas to compute your loan payments, total interest, and amortization schedule. Here's how it works:

Monthly Payment Calculation

The calculator uses the following formula to determine your fixed monthly payment (PMT):


                                            PMT = P × (r × (1 + r)^n) / ((1 + r)^n - 1)

Where:

P = Principal loan amount
r = Monthly interest rate (annual rate ÷ 12)
n = Total number of payments (loan term in years × 12)

Amortization Schedule

The amortization schedule breaks down each payment into principal and interest components:


                                            Interest Payment = Current Balance × Monthly Interest Rate

                                            Principal Payment = Total Payment - Interest Payment

                                            New Balance = Current Balance - Principal Payment

This process repeats for each payment until the loan is paid off.

Total Interest Calculation

The total interest paid over the life of the loan is calculated by summing all interest payments from the amortization schedule.


                                            Total Interest = (Monthly Payment × Total Payments) - Principal Amount

Pro Tip

Making additional principal payments can significantly reduce your total interest paid and shorten your loan term. Try adjusting the calculator to see how extra payments affect your loan.

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Privacy Policy

1. Information We Collect

When you use our Loan Calculator, we may collect certain information automatically, including:

Technical data such as IP address, browser type and version, time zone setting
Usage data including how you use our calculator and the features you access

2. How We Use Your Information

We use the information we collect to:

Provide and maintain our Loan Calculator service
Improve and personalize your experience
Understand how our calculator is used to guide improvements
Display advertisements through Google AdSense

3. Cookies and Tracking Technologies

We use cookies and similar tracking technologies to:

Remember your preferences (like theme selection)
Provide advertisements through Google AdSense
Analyze calculator usage

You can instruct your browser to refuse all cookies or to indicate when a cookie is being sent.

4. Third-Party Services

We use Google AdSense to serve advertisements. Google's use of advertising cookies enables it and its partners to serve ads based on your visit to our site and/or other sites on the Internet.

5. Data Security

We implement reasonable security measures to protect your information. However, please be aware that no method of transmission over the Internet or electronic storage is 100% secure.

6. Changes to This Policy

We may update our Privacy Policy from time to time. We will notify you of any changes by posting the new Privacy Policy on this page.

7. Contact Us

If you have any questions about this Privacy Policy, please contact us at contact@c12e.site.

Last updated: July 26, 2025

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A mortgage is likely the largest loan you'll take in your lifetime, used to purchase real estate where the property serves as collateral. Understanding mortgage options can help you make informed decisions about this significant financial commitment.

Types of Mortgages

Conventional Mortgages: Not insured by the government, typically requiring good credit and a 20% down payment to avoid private mortgage insurance (PMI).
FHA Loans: Insured by the Federal Housing Administration, allowing lower down payments (as little as 3.5%) and more flexible credit requirements.
VA Loans: Available to veterans and active military members, offering no down payment and competitive interest rates.
USDA Loans: For rural homebuyers with low-to-moderate incomes, featuring no down payment requirements.
Jumbo Loans: For properties that exceed conforming loan limits set by Fannie Mae and Freddie Mac.

Key Mortgage Terms

Down Payment: The initial payment made when purchasing a home, typically ranging from 3.5% to 20% of the purchase price.
Loan Term: Most common are 15-year and 30-year mortgages, with shorter terms having higher monthly payments but lower total interest costs.
Fixed-Rate vs. Adjustable-Rate: Fixed-rate mortgages maintain the same interest rate, while adjustable-rate mortgages (ARMs) have rates that change after an initial fixed period.
Closing Costs: Fees paid at closing, typically 2-5% of the loan amount, including appraisal fees, title insurance, and origination fees.

The Mortgage Process

Pre-approval: Get a lender's estimate of how much you can borrow based on your financial information.
House Hunting: Look for properties within your budget.
Loan Application: Submit a formal application with your chosen lender.
Processing & Underwriting: The lender verifies your information and assesses risk.
Closing: Sign final paperwork and take ownership of the property.

Pro Tip

Use our loan calculator to compare different mortgage scenarios. Even a 0.25% difference in interest rates can save you thousands over the life of your loan.