Use this calculator to estimate your monthly payment for a given loan balance and interest rate, or to estimate your loan balance given a fixed monthly payment and interest rate.

Definitions:

Loan Balance:  The amount you want to borrow when used to calculate the monthly payment or the amount you can borrow given a fixed monthly payment.

Interest Rate:  The annual percentage rate of the loan.

Period:  The length of the loan in either years or months.

Monthly Payment:  The amount you will have to pay each month for a given loan amount, term, and interest rate.