Home › Calculators

Loan calculators

Run your own numbers before you talk to any lender. These are illustrations, not offers — your actual rate and terms come from the lender. (APR means annual percentage rate: the loan's yearly cost with fees included.) Nothing you type here leaves your browser.

Jump to: Payment basics · Can I afford it? · Debt consolidation · Refinancing · Car decisions

Payment basics

1. What's the monthly payment?

Loan amount ($)

APR (%)

Term (months)

2. How much does the term length really cost?

Same loan, three terms, side by side. The lower payment usually costs more in total. (This is the math behind our diagram.)

Loan amount ($)

APR (%)

Compare terms (months)

3. What does paying extra save?

Loan amount ($)

APR (%)

Term (months)

Extra per month ($)

Can I afford it?

4. What's my debt-to-income ratio?

DTI (debt-to-income ratio) is the number lenders check first: your monthly debt payments divided by your monthly income before taxes. It decides how much loan you can qualify for.

Monthly income before taxes ($)

Monthly debt payments ($)

New loan payment you're considering ($)

Count loan payments, minimum card payments, and rent or mortgage. Don't count utilities, groceries, or insurance. The bands shown are common rules of thumb, not any lender's cutoff — each lender sets its own.

Debt consolidation

5. Would a consolidation loan actually save money?

Compare what your credit cards will cost if you keep paying them as-is against one fixed loan that pays them off. More on how consolidation works →

Total card balances ($)

Average card APR (%)

What you pay monthly now ($)

Loan APR (%)

Loan term (months)

A consolidation loan only works if the cards stay paid off. Run the loan APR with any origination fee included — and if the loan rate isn't clearly lower than your card rate, it may not be worth it.

Refinancing

6. Mortgage refinance: when do I break even?

Refinancing costs money up front (closing costs). The break-even point is how long you must keep the new loan before the monthly savings pay those costs back. Planning to move sooner? Refinancing probably loses money.

Current balance ($)

Current APR (%)

Months left on current loan

New APR (%)

New term (months)

Closing costs ($)

7. Auto refinance: what would it save?

Current balance ($)

Current APR (%)

Months left

New APR (%)

New term (months)

8. Student loan refinance: the savings — and the catch

Balance ($)

Current APR (%)

Months left

New APR (%)

New term (months)

The catch: refinancing a federal student loan into a private one is permanent. You give up income-driven repayment, federal forgiveness programs, and federal hardship options — forever. Whatever this calculator shows, read the warning on our student refinance page first.

Car decisions

9. Lease or buy: which costs less over the lease period?

An honest apples-to-apples: the full cost of leasing versus the cost of buying over the same months, counting the value you'd still own in the car. New to leasing? Read the leasing guide first ↗

Lease: monthly payment ($)

Lease: due at signing ($)

Lease length (months)

Buy: car price ($)

Buy: down payment ($)

Loan APR (%)

Loan term (months)

Car's value after the lease period ($)

Estimate the future car value honestly — try a pricing guide for a similar car that's already that old. This comparison skips taxes, fees, insurance differences, and mileage/wear charges, which can all tilt the answer.

All calculators assume standard fixed-rate, fully amortizing loans with no fees unless you build the fee into the amount or APR. Origination fees, prepayment penalties, and rate changes will alter real results — check your Loan Estimate or loan agreement.

Reviewed by AI and James Mills, retired financial planner with Professional Designations (25-year career), former FL mortgage and real estate broker. Educational tools only — not an offer, quote, or financial advice.

← All loan types · Not sure which loan fits? Take the 60-second quiz →