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.



myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+