Interest Rate Calculator

$
Total amount borrowed
$
Amount paid each month
months
Duration of the loan
$
Initial payment (optional)
Type of loan for reference rates
Origination fees, closing costs, etc.

Interest Rate Results

Calculated Interest Rate (APR)
7.42%
Loan Amount $25,000.00
Monthly Payment $500.00
Loan Term 60 months
Total Payments $30,000.00
Total Interest $5,000.00
Average Market Rate 5.25%
Rate Comparison 2.17% higher
Rate Type: Fixed Rate
Market rates updated: Today
This calculates the implied interest rate based on loan terms. Actual rates may vary based on credit score.

Payment Schedule

Period Payment Principal Interest Remaining Balance

Current Market Interest Rates

Loan Type Average Rate Range Term Monthly Payment*
*Based on $25,000 loan amount for comparison
%
Annual percentage rate
$
Maximum affordable monthly payment
months
Desired loan duration
$
Initial payment (optional)
Type of loan for reference
$
Origination fees, closing costs, etc.

Loan Amount Results

Maximum Loan Amount
$26,193.69
Interest Rate 5.50%
Monthly Payment $500.00
Loan Term 60 months
Total Payments $30,000.00
Total Interest $3,806.31
Total Cost with Fees $30,000.00
Affordable Purchase Price $26,193.69
Payment-to-Income Ratio: 20%
Recommended: <36%
This calculates the maximum loan amount you can afford based on your monthly payment budget.

Loan Affordability Guidelines

Debt-to-Income Ratio (DTI)
28%
8%
Front-end: Housing Back-end: Total Debt
Recommended: ≤28% housing, ≤36% total
Payment Breakdown
Principal & Interest $500.00
Taxes & Insurance* $100.00
Total Monthly $600.00
*Estimated for mortgages only
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