:: Monthly Loan Payment Calculator

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Summary
To help you understand how much of a monthly payment you'll make on a specific car, home or personal loan you can use this calculator. This calculator takes the loan amount, length of the loan and the interest rate to determine an approximate monthly payment.

How to Use the Monthly Loan Payment Calculator
The results of this loan payment calculator are for comparison purposes only. They will be a close approximation of actual loan repayments if available at the terms entered, from a financial institution.

To use, enter values for the Loan Amount, Number of Months for Loan (so a 30 year home loan would be 360 months), and the Interest Rate (e.g. 7.25), and click the Calculate button. Clicking the Reset button will clear entered values.

Enter only numeric values (no commas), using decimal points where needed. Non-numeric values will cause errors.

Another Resource
This online calculator is just a simple tool to help you get an immediate picture of how much you would pay on a given loan. There are also some free MS Excel templates you can download to use for calculators. Here are two MS Excel templates that are may help as an informal Debt Manager and/or Home Loan Calculator.

• Consumer Debt Manager1.xls
  From the "Credit Help Guide US" this is a free MS Excel template that helps with managing your debt. It's a good, simple tool to track your debt.
  
• Home Loan calculator with extra payments.xls
  From the "Credit Help Guide US" this is a free MS Excel template that helps you understand your home loan payments and how much of the principal is actually paid off throughout the life of the loan.