Loan and Debt Calculators
Borrowing decisions fall into two groups: choosing a new loan, and paying off the debt you already have. The calculators below cover both.
Before you borrow, the Loan Payment Calculator gives the monthly payment and total interest on any fixed-rate loan, so you can see what a longer term really costs. For a car, the Auto Loan Calculator compares terms side by side, and the Lease vs Buy Auto Calculator compares the full cost of each over the time you expect to keep the car. The Debt-to-Income Calculator shows your ratios the way a lender calculates them, which is worth checking before you apply for a mortgage or a large loan.
If you are paying down debt, the Credit Card Payoff Calculator compares the snowball method (smallest balance first) with the avalanche method (highest rate first) and shows the cost of paying only the minimum. The Student Loan Calculator compares the federal repayment plans and shows when forgiveness would apply.
When comparing offers, look at the APR rather than the interest rate, because the APR includes fees. A lower payment over a longer term almost always costs more in total.
Loans & Debt calculators
Auto Loan Calculator
Monthly car payment and total interest, with a side-by-side term comparison.
Open calculatorCar Affordability Calculator
The car price your budget supports, including the payment, insurance and running costs.
Open calculatorLease vs Buy Auto Calculator
The total cost of leasing a car against financing the same car.
Open calculatorStudent Loan Calculator
Federal repayment plans (RAP, IBR, PAYE, Standard) with forgiveness breakeven.
Open calculatorCredit Card Payoff Calculator
Compare snowball, avalanche and minimum-payment strategies.
Open calculatorDebt-to-Income Calculator
Your front-end and back-end debt-to-income ratios, as a lender sees them.
Open calculatorLoan Payment Calculator
Monthly payment and total interest for any fixed-rate loan.
Open calculator
Popular guides
Frequently asked questions
What is the difference between the interest rate and the APR?
The interest rate is the cost of borrowing the principal. The APR adds the lender's fees and spreads them over the term, so it is the better number for comparing two loan offers.
Is it better to pay off the highest rate or the smallest balance first?
Paying the highest rate first (avalanche) always costs less interest. Paying the smallest balance first (snowball) clears accounts sooner, which helps some people stay motivated. The Credit Card Payoff Calculator shows how much the difference is for your debts.
What debt-to-income ratio do lenders want?
Many mortgage lenders look for total monthly debt payments, including the new housing payment, of no more than about 36% to 43% of gross monthly income, though limits vary by loan program and lender.