When taking on a new loan, you should use every tool at your disposal to ensure that the loan you sign is the loan that fits your particular situation. A loan calculator can help you make important decisions. Find your perfect loan terms with our calculator or fill out our short form to contact up to four lenders about your loan.

Loan calculators help you decide the following information:

• Loan term
• Necessary down payment
• Maximum interest rate you will consider
• Whether or not add extra yearly payments

Extra yearly payments allow you to pay interest more quickly, costing you less in the long run and possibly cutting years off of your loan term. A loan calculator can be used to show exactly how much will be saved by adding an extra yearly payment. Some lenders have prepayment penalties and will fine you if your loan is repaid before the specified date. In order to keep from owning unnecessarily, check with your lender to make sure there are no prepayment penalties or to structure extra payments into the loan agreement.

Loan Amortization is the schedule by which your loan will be repaid. This schedule usually has a length or term of 15 or 30 years. Using a loan amortization calculator can give you added information about the amortization process. For instance, a calculator can give you an estimated monthly payment according to your loan amount, term and interest rate. It can also show you figures on how much will be paid monthly, as well as yearly, to your principal and to your interest. Use our loan amortization calculator to learn more about your repayment schedule or apply online to contact up to four lenders about a new loan.