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The loan calculator is one of our most popular financial calculators. It can solve for one of four unknown values, or you can enter values for loan amount, term, interest rate and payment and it will create a schedule using your values. More below...»

Will making small, extra payments save me money?
Our Extra Payment Calculator will create an amortization table and show you the interest saved.
Will paying half the monthly payment every other week save interest charges?
Check out our Biweekly Loan Calculator to find out.
Enter a "0" (zero) for one unknown value above.

$ : mm/dd/yyyy
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About dates - if you want to create a schedule that accurately reflects a loan's origination date (the day the money is borrowed) and the first payment date followed by regularly scheduled payments, then use our amortization schedule.

Don't over pay, don't under collect. If you need to track payments on the exact date they are paid (or missed) for whatever amount, then use our time value of money calculator.

Since the calculator will solve for multiple unknowns, it can easily be used to answer the following questions:

  • How much can I borrow?
  • What would my payment be?
  • What is the lending rate?
  • How long will it take to pay off my loan?
  • What date is my loan paid off?

Related: Loan Carrying Cost: Interest Reduction Techniques

On a more general note, we have been discussing details about loans, some structured with unusual details, over several decades. At this point, we believe our software calculators can create a schedule for any custom loan that exists. If you have a loan with unusual terms, please ask.

Hopefully you'll find this loan calculator as well as all the financial calculators on this site to be useful tools. Why not take another sip of your favorite beverage and explore for a few minutes? Start by checking out The Reading Room. Here you'll find a half dozen articles, written by professionals, about money.

Do You Have 20 Seconds?
Please tell me how you use this calculator. Are you using it personally or professionally? What feature is important to you? If it didn't meet your needs, why? Your feedback will help me make improvements. Complete sentences aren't necessary! :)

4 thoughts on “loan-calculator

  1. Can you guys put back the old calculator because this one doesn’t work if the payment frequency is daily and compounding is monthly.

  2. Isn’t working what I try to calculate number of payments with biweekly payments/monthly compounding. Get an error message saying “Cannot calculate term when initial period is irregular length. Dates must match frequency.”

    • That’s not so much an error message as a message that tells the user about a limitation the calculator (at this time) has — it can’t calculate the term when the compounding and payment frequencies don’t match. If you set compounding to be the same as payment, you can calculate term. Term calculations are imprecise anyway (because it’s not possible to have 3/4 of a payment period, for example) which is what you would most likely need when you pick a payment amount.

      Further, even after the calculators are updated to allow calculating term with mixed payment and compounding frequencies, the difference you’ll get with monthly/biweekly and monthly/monthly might be a period less. Do the calculation with monthly/monthly then change to monthly/biweekly using the term calculated to run the schedule. Depending on the rounding, you can adjust the term by a period, if you desire.

      Since you are using biweekly payments, would this biweekly loan calculator be a better choice for you?

      Sorry if TMI.

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