How much will my loan payments be?

This calculator calculates monthly payments for an amortizing loan and interest-only payments on a line of credit.

Many personal and home equity lines of credit require interest-only payments. The credit line may have a cleanup period. A cleanup period requires that the borrower periodically pay down the credit line to zero in order to renew the lending agreement.

An amortization table is also included. The table shows amounts paid for interest and principal.

For most forms of home equity debt, including home equity lines of credit, interest expense can generally be deducted from your income for income tax-reporting purposes.

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