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Loan Comparison Calculator


Loan Comparison Calculator

Use our Loan Comparison Calculator to help you determine the financing and payment options that are best for you.

Our Loan Comparison Calculator will create a table for the desired information. In order for the Calculator to calculate your table, you must first enter the loan terms, payment frequency, and interest rates. Then decide on a calculation: do you need to find out what the overall cost of the loan with interest will be, or do you need to know what the payment for a specified loan amount will be?

Term of Loan
Enter the number of months or years to borrow.
Months Years


Payment Frequency
Select how often you wish to make payments below:

Monthly Semi-monthly Bi-weekly Weekly

Interest Rates

Various interest rates will be displayed in the left column. Select the beginning and ending interest rates for the Loan Comparison Calculator to use, along with the increments by which the rate will increase in the table. Enter percentage without percentage sign, e.g. 1.0, 4.0, .5

Low Interest Rate  %
High Interest Rate  %
Rate Increments  %


Total Loan Cost
You can have the Loan Calculator calculate the amount to borrow in the various columns. Select the starting and ending payment amounts that you can afford.

The Loan Comparison Calculator will calculate the total borrowed amount, principal and interest, using the entered payment information. Enter the lowest and highest payment amounts that you can afford, then click the Calculate key.

Low Payment Amount 
High Payment Amount 




OR...

Payment Amount

If you know how much and at what interest rate you want to borrow, and would like to know what your payments will be, then use this utility. Enter what your lowest and highest total amount to borrow may be, then click the Calculate key.

Low Amount to Borrow 
High Amount to Borrow 


Note: The Loan Comparison Calculator is intended to provide approximate information about your loan payments and does not constitute an offer to extend credit. Your actual payment information may vary. Please contact the financial institution for exact payment information.



 

1The links provided within this area are for our Members' convenience and in no way imply an endorsement. The links may take you to other web sites, which may or may not be secure. The Credit Union does not operate these web sites and is not responsible for their content, security or privacy. Any issue arising from content, the use of transactions with or inability to access these sites, should be directed to the actual site owner.


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