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Loan Payoff

What’s the True Cost of the Loan You Are Considering?

Borrowing money can be an expensive proposition. Even at relatively low interest rates, you may be surprised at the amount of interest you pay over the life of a 贷款. This calculator is designed to help you estimate the true cost of that 贷款 you may be considering.


的 results below show the monthly payment amount, the interest cost, and the potential tax savings (if the interest on your 贷款 is tax deductible) for the 贷款 you are considering. It may surprise you to learn that for a long-term 贷款, such as a 30-year mortgage, you could pay more in interest over the life of the 贷款 than you originally borrowed. For example, if you borrow $100,000 at 6% over a 30-year period, you would pay $115,838 in interest — more than the amount you initially borrowed — bringing the total pay-back amount to $215,838.

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Your Results
Original 贷款 amount: $0.00
Term of the 贷款 (in months): $0.00
Monthly payment: $0.00
Total interest payments: $0.00
Assuming the interest is tax deductible, your tax savings would be: $0.00

This chart shows how much the balance of your 贷款 will be over the time period you are making payments. You’ll see that in the early years of the 贷款, the principal you owe is reduced more slowly than in the later years of the 贷款. 的 longer the 贷款, the more dramatic this effect is. This is because in the early years, a greater portion of your payment goes toward interest on the balance of the 贷款; as the balance of the 贷款 is reduced, the interest accrued each month is reduced, and more of your payment amount is credited to the 贷款 principal.

Loan Balance Over Time

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