Loan Payment Calculator

I tried several loan payment calculators, then I came across this one. This is an excellent program. It is very easy to understand and user friendly. This program allows you to enter a current or planned loan amount, interest rate, duration of the loan (i.e. 10, 15 20 30 yr loans) and up to 3 options for additional payments at a time including a start date for side by side comparisons. We used this program to compare the cost of refinancing our home, making extra payments or purchasing a new home and saved over twenty four thousand dollars in interest. This is a great app and I would recommend it to anyone considering or actively planning to take out any type of loan.

I've just installed, tested, and uninstalled 4 loan calculator programs; all rated higher than this one and can't understand who rated them that high. I have to assume it was the developers. Besides actually working (some didn't) this calculator allows you to key-in values (how do you slide bar conveniently to $43,275 @ 3.875%), allows you to compare up to three options side-by-side and provides payment tables.

Great app but if I could save it or download the information it would be so much better.

I like the ability to add a second start date. It would be nice to be able to set the number of payments per year. Just a little big for the screen, but scroll bars help. Print Screen does cut off a little

Easy to use and check what your loan payment will be before you go and make purchases.

It is very easy to use if you know what you doing. It will be better if you add a box for home insurance, taxes and pmi. as a overall calculation of your full loan estime.

This tells you what you want to know about any amortization, and focuses on a few crucial numbers like overall savings from different payment plans. It takes a bit of math on the user's part to use it for credit card debt. There is a banner ad on the top of the program window. Free means paid for by someone else. I haven't seen anything flashy or obnoxious, or noisy, so far.

This apps fools you. The interest amount is calculated incorrectly when you make extra payment. There is no re-amortization in today loans, you will always pay interest from original amount, even with extra monthly payments. Yes with extra monthly payments you will pay quicker, but interest savings will be LESS. Learn the subject before fool people!