Payment Calculator
Calculate monthly payments for loans, mortgages, auto loans, and credit cards
Loan Details
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Payment Results
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With extra payments
Payment Schedule Visualization
Payment schedule chart will appear here after calculation
Payment Tips & Strategies
💡 Extra Payments
Making extra principal payments can significantly reduce total interest and shorten your loan term.
📅 Bi-Weekly Payments
Switching to bi-weekly payments effectively makes 13 monthly payments per year instead of 12.
🎯 Interest Rate Impact
Even a 0.5% reduction in interest rate can save thousands over the life of the loan.
⚖️ Payment vs. Investing
Consider investing extra money if potential returns exceed your loan interest rate.
🏦 Refinancing Options
Monitor rates regularly. Refinancing can lower payments if rates drop significantly.
📊 Budget Planning
Keep total debt payments under 36-40% of gross monthly income for financial stability.