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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.

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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 Ultimate Financial 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! :)

45 thoughts on “loan-calculator

  1. THis is what I am looking for but I would like to see this calculator as an IPHONE App. Any chance that will happen?

    • It’s not likely, at least not for a good while. First, I don’t know how to program for iOS. But secondly, what would an iOS version offer that the web calculator doesn’t? I use this calculator on my iPhone 5 regularly. I can even print to a wireless inkjet without a problem from the iPhone.

  2. Subject: C-Value! Financial Calculator for Loan Payoffs

    Thank you, Karl, for your previous response. I worked through the Loan Payoff Calculator example online. I am sure I will be buying your download if you can assure me it will meet our requirements…

    I have questions about a few things:

    Can you further describe the “Initial Period Interest Options”?
    For example, our buyers made the first payment the day before it was due (which included an extra payment of $100.81). Does the choice “Reduce all” apply here?

    When choosing “Rounding,” why choose 360?
    The land contract we hold for our buyers states that the interest is to be figured monthly (365/12), since equal monthly payments are due on a set day each month–in that case, should I select “365”?

    When to choose “Daily” compounding?
    When I chose “monthly” initial compounding, and calculated the payment amount, it equaled the amount stated on our contract. We believe, however it should be compounded daily, since some payments have come as early as 18 days after the previous payment was made; the previous pymt happened to be 8 days late, as a matter of fact. We believe this to be fair, since MORE of the payment interest should go to interest/LESS to principle with late payments; and LESS of the payment should go to interest/MORE to principle if payment is early.

    Will this all come out when using your program?

    What kind of support do you offer if I was to purchase the program for $19.99?
    My second email to “webmaster@Financial-Calculators.com” asking for information was labeled “spam” by your server and bounced back to me?

    Thank you!
    Marcia

    • Hi, not sure about the email bounce back. I think that must have come from some intermediate server.

      I’ll take the questions one at a time.

      When choosing “Rounding,” why choose 360?
      When to choose “Daily” compounding?

      These two settings are terms of the loan. There is no right or wrong answer here. Set the terms to whatever the lender and borrower have agreed on.

      Initial Period Interest Options

      If you are using C-Value! or the Ultimate Financial Calculator to track payments, this option has no impact. When tracking payments, the user is entering one payment at a time, for the exact amount and on the date paid. There is no payment amount calculation, and that is what this option impacts.

      Will this all come out when using your program?

      The program supports the features and the calculations will be accurate for the terms selected.

      Re, support, via email or the website comment areas.

  3. Helpful as an individual looking to purchase second home. Can fi d out normal payment amount over 15 yrs, yet see the amount I should pay if I desire to pay it off in fewer years – 10 for example. If for some reason I can not pay the extra for a few months, I can recalculate using loan balance.

  4. Hi, I’m looking for a loan calculator for my website, but I need to set the interest rate so it can’t be overwritten by the customer. They can change the term and deposit etc. Is this possible with your product?
    Many thanks
    Jayne

    • Is your website built on WordPress? If so, you can click on the above "Widgets & Plugins" button in the header and select the loan calculator. The way to make it so the users can’t change the rate is to set the input to "disabled". If this isn’t enough detail, post a follow-up question on the plugin page. Thanks.

  5. We run a small consumer loan company and are looking to find a program that will track past dues, figure payoff’s etc. We process eft’s or run cc’s for almost all monthly pmts.

    Do you offer anything that would help our company in this respect?

    • As far as calculating and tracking loan balances there are two options, one is free online, Ultimate Financial Calculator. With this calculator, the user can track or enter any payment amount or interest rate change on any date. It also supports multiple loan advances (as for a construction loan) within the same loan agreement. See tutorial #1 at above link for an overview and tutorial #25 for how to track a loan balance.

      C-Value is the Windows version of the above. It has the same features plus it also lets the user save the loan details for later editing. You would install it on a Windows computer. Cost, $49.95.

      I should point out that both or calculators and not a loan management application. That is, they do not calculate past dues across a a portfolio of loans. You would need to look at each loan individually.

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