Find Your Strength in Numbers with MyFICO's Top Finance Calculators
April 30, 2020, by Rob Kaufman
We've all been there: feeling overwhelmed when trying to figure out how much we need to save for college... how to best budget our income... what might be the best way to consolidate or pay off our debt. Sometimes we try a pen and paper, other times an excel spreadsheet. For some, it typically results in exasperation and the wish for an easier way.
Well, myFICO finance calculators are that easier way. Listed below are some of the most often-used calculators at myFICO, along with some of the results you'll get within just a few seconds of inputting your information.
Loan Savings Calculator
Would you like to know how your FICO® Score impacts the interest you pay on a loan? Just go to myFICO's Loan Savings Calculator. Enter the type of loan you want (i.e., 30-year fixed, 15-year ARM), the state you live in, the loan principal amount and your FICO Score. It'll take less than a second to see your potential monthly payment may be, as well as how much interest you could pay or save based on changes in your FICO Score.
Mortgage Loan Affordability Calculator
Are you looking for a home and not sure how much of a mortgage you can afford? Check out myFICO's Mortgage Loan Affordability Calculator and to get an estimate in seconds. With a little input from you - like your monthly income, expenses and desired loan terms, this calculator will show you both a conservative and aggressive estimate of what you could borrow based on those inputs, and what your monthly payment would be for each mortgage loan scenario.
Credit Card Consolidation Calculator
If you're thinking about consolidating debt from multiple credit cards onto one credit card, this Credit Card Consolidation Calculator is for you. Once you enter the required information for your current cards and the consolidation card, this tool can calculate the difference in net present cost based on that information. That means you'll have the ability to see how much you may save (or not) consolidating the debt of multiple cards onto one. As you'll see, the result is based on several factors, including payment term, monthly payments, total interest and fees.
Auto Affordability Calculator
Sooner or later the time will come when you need a new car. The Auto Affordability Calculator helps you determine the price of the vehicle that meets your budget. Based on your desired monthly payment, down payment, trade-in value, cash rebate(s) and loan terms, this calculator displays the maximum sticker price you can afford. It's great information to know before you start looking for a vehicle so you won't be disappointed if, by chance, your dream car is out of financial reach.
College Living Expense Calculator
College tuition alone can make a detrimental mark on your financial accounts. Add to that the expenses required to live each month (on or off campus) and affordability might appear unreachable. That's why it's a good idea to learn what your annual educational living expenses may look like so you'll better know how to budget your money. This College Expense Calculator helps you do just that.
There are more than 50 other calculators at myFICO on topics ranging from home refinancing and credit cards to auto loans and family budgets. So stop by any time and see how myFICO calculators prove that there really is strength in numbers!
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