About the numbers

This is an estimate, not an offer of credit or advice

The calculators give estimates. They are not an offer of credit, and they are not financial advice. Your lender can give other numbers. All the math runs in your browser.

Where the numbers come from

• Consumer Financial Protection Bureau (CFPB): what is amortization. A loan compounds every month. The payment is the same each month and is rounded to the cent. The last payment pays what is left.
• Regulation Z (12 CFR 1026), appendix J. The real APR of a personal loan is the rate that makes the payments equal to the money you get. A fee makes it higher than the interest rate.

How each calculator works

• Loan: the payment is the same each month. The calculator rounds the payment and the interest of each month to the cent. An extra payment goes to the principal.
• Auto loan: the sales tax is the tax rate times the price. Most states tax the price less the trade-in. A few do not, so the calculator has a choice. What you owe on the trade-in is added to the loan.
• Personal loan: the origination fee is a share of the loan. The lender can take it from the loan or add it to the loan. The APR is figured from the money you get, with the method of Regulation Z.
• Home equity line of credit (HELOC): the largest line is the home value times the limit for all loans, less your mortgage balance. The calculator uses one rate for all years. Real lines usually have a variable rate. The payment in the draw period is interest only.

What the calculators leave out

Taxes, insurance and dues are numbers you type, and they can change each year. Late fees, prepayment fees, closing costs and a change of the rate are not in the results. The mortgage calculators have their own sources. See the mortgage calculator.