MyCalculators.com |- Loan Calculator with Extra Payment Options

Problem Solved...

Loan Calculator w/Extra Payments
Enter interest rate and two more fields,
then press the button under the field you wish to calculate.

Principal
Amount

# of
Months

Interest
Rate

(Decimal)
Canadian

Monthly
Payment

(Principal & Interest)

You'll pay a total of $

over the life of this loan.

Do the above calculation first - as if you're NOT making extra payments.
Now do the following...

First Payment Due in

, of the year

I would like to make extra	payments of $
beginning

View Amortization Schedule with Date and Annual Interest Paid
View schedule with year-end annual totals only!

You must solve for one of the values in the calculator before you run the amortization schedule.

Canadian Mortgages
If you have a Canadian mortgage, check the "Canadian" box under the Interest Rate field. Canadian mortgages compound interest twice annually instead of monthly.

Note:

Due to rounding, the calculations may differ by a few cents from those of your lending institution. This calculator is intended to be used only as a guide.

The interest rate is compounded monthly - as is the case for most U.S. loans. If Canadian is checked, interest is compounded twice annually.