FutureStarr

Generic Loan Calculator

# Generic Loan Calculator

via GIPHY

The Generic Loan Calculator is a budgeting tool that can be used to estimate the amount of income needed to cover monthly housing costs, monthly car and boat payments, and monthly living expenses.

### Personal

The Personal Loan Calculator can give concise visuals to help determine what monthly payments and total costs will look like over the life of a personal loan. Since most personal loans come with fees and/or insurance, the end cost for them can actually be higher than advertised. The calculator takes all of these variables into account when determining the real annual percentage rate, or APR for the loan. Using this real APR for loan comparisons is most likely to be more precise.

Personal loans are loans with fixed amounts, interest rates, and monthly payback amounts over defined periods of time. Typical personal loans range from \$5,000 to \$35,000 with terms of 3 or 5 years in the U.S. They are not backed by collateral (like a car or home, for example) as is typical for secured loans. Instead, lenders use the credit score, income, debt level, and many other factors to determine whether to grant the personal loan and at what interest rate. Due to their unsecured nature, personal loans are usually packaged at relatively higher interest rates (as high as 25% or more) to reflect the higher risk the lender takes on. (Source: www.calculator.net)

### Help

The Personal Loan Calculator can give concise visuals to help determine what monthly payments and total costs will look like over the life of a personal loan. Since most personal loans come with fees and/or insurance, the end cost for them can actually be higher than advertised. The calculator takes all of these variables into account when determining the real annual percentage rate, or APR for the loan. Using this real APR for loan comparisons is most likely to be more precise.

## Related Articles

• #### 4 Is What Percent of 16

August 07, 2022     |     sheraz naseer
• #### How many ounces in a cup

August 07, 2022     |     Future Starr

August 07, 2022     |     sheraz naseer
• #### 18 Out of 30 As a Percentage ORR

August 07, 2022     |     Bilal Saleem
• #### Square Footage for Backsplash

August 07, 2022     |     Muhammad Umair
• #### A 10 Percent of 135

August 07, 2022     |     Shaveez Haider
• #### 10 Percent of 44

August 07, 2022     |     Muhammad Waseem
• #### A Increase 30 by 15

August 07, 2022     |     Muhammad Waseem
• #### Square Root of 0.75 OR

August 07, 2022     |     Jamshaid Aslam
• #### 6 17 As a Percentage OR

August 07, 2022     |     Jamshaid Aslam
• #### A The Square Root of 125

August 07, 2022     |     Muhammad Waseem
• #### Change to Decimal Form

August 07, 2022     |     sheraz naseer
• #### A Fraction Divider Solver

August 07, 2022     |     Shaveez Haider
• #### A 16 Is What Percent of 30

August 07, 2022     |     Muhammad Waseem
• #### Stem Plot Graph Generator

August 07, 2022     |     sheraz naseer