Free Loan Payment Calculator Template

 Without taking out loans, many of us would not be able to buy a home, a car or afford a higher education.

Before you get a loan, it’s important to know just how much debt you can afford.

The cost of a loan depends on the type of loan, the lender, the market environment and your credit history and income.

It’s helpful to calculate loan repayment to determine the following:

• Your remaining loan balance
• Your monthly loan payment amount
• Impact of different interest rates on your loan balance
• How much interest you’ll pay over the life of your loan
• The total loan payments you’ll make to pay off the loan
• How long it will take to pay off the loan
• How interest rates and payments change based on the loan amount