Loan Calculators 
We have assembled a number of financial calculators for consumers to consider using when they are trying to figure out their loan costs and various types of loans.
The following loan calculators are below;
- Amortization payment schedule calculator
- Annual effective interest rate calculator
- Credit card payment calculator
- All purpose loan calculator
Amortization Payment Schedule Calculator
Enter the loan amount, the annual interest rate, the length of the loan in years, and any down payment that you plan to place on the property. This calculator will calculate and shows each monthly payment, the interest paid each month, the principal paid each month, and the principal remaining at end of each installment cycle. This is a lot of information for consumers and can assist them to evaluate various scenarios of cost, interest rates and total loans.
Annual Effective Interest Rate Calculator
Consumers should enter the annual interest rate and the number of compounding periods for your loan. This calculator will calculate for you and show the effective APR on the note. Doing this calculation may surprise many consumers who do not realize how high their interest rate actually is.
Credit Card Payment Calculator
Consumers can enter their credit card total balance, number of months they wish to take to pay off the total balance, and your interest rate of the credit card. Calculates and shows your monthly credit card payment necessary to pay off the balance within the time frame that you have chosen.
All of these calculators and others that are also on this web site can be very useful to consumers who are trying to manage their debt and their loans, whether it is a mortgage or a credit card balance. At the very least they can enter fictitious numbers into the calculators to help them understand the impact of a loan on their cash flow before they actually apply for the loan. Consumers who have credit card debt for example and assess the difference in payments for a loan with a low interest rate compared to the payments needed to pay this same balance off with the much higher credit card interest rates.
Buying a home is probably one of the most stressful events in your life. It is certainly the largest expense that most people will have in their life time. You can only ask the bank manager to calculate so many mortgage amounts and monthly payments before they tell you that you need to make a decision. This is where a loan calculator can really help consumers evaluate many alternatives when they make their decision to apply for and sign up for a mortgage.
Consumers can vary the interest rate to help understand the effect on the monthly payments. They can vary the amount of the loan based on the amount they have available as a down payment to see what the impact will be on the monthly payments and the total interest that the loan or mortgage will cost.
One area of particular concern is the cost of the unpaid balances on credit cards. Using one of our calculators, consumers can see what the total cost of the unpaid balance will be in terms of interest costs. Credit cards have very high interest rates and the amount of interest paid on credit card unpaid balances is very high.
Doing an evaluation of what this same unpaid balance would cost in terms of interest payments for a regular loan is easily completed with one of these calculators. Credit card interest rates are very high with most at 18% and some as high as 29%. Compared to personal loans that are typically less than 10%, the difference in interest that is paid can be in the thousands of dollars. Consumers can use one of the calculators to help them evaluate various scenarios to pay off this credit card balance.