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Calculators > Loan and mortgage calculator 

Loan and mortgage calculator

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.

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payment frequencies:
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weekly

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bi-weekly

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semi-monthly

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monthly

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semi-annually

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annually

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accepts amortization periods of up to 40 years, in months or years

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allows various compounding frequencies:
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annually

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semi-annually

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monthly

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daily

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shows the effective interest rate

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shows interest savings when regular payments are increased

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allows input of an extra payment annually

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shows how much sooner the debt will be repaid with increased payments

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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: April 19, 2010

 

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