Loan Calculator, Auto Loan, Mortgage Loan Guides and Tips

Loan payment calculator results are for comparison purposes only. They will be a close approximation of actual loan repayments if available at the terms entered, from a financial institution. This is being provided for you to plan your next loan application. To use, enter values for the Loan Amount, Number of Months for Loan, and the Interest Rate (e.g. 7.25), and click the Calculate button.
Loan Amount $
Annual Interest Rate %
Term of Loan Years
Number Payments
Monthly Payment $
 
Enter only numeric values (no commas), using decimal points where needed. Non-numeric values will cause errors.

Types of Loans

Secured Loans: A secured loan is a loan in which the borrower pledges some asset to secure this loan as collateral. Housing loan and most of the time auto loans. In these cases, encumbrances or liens are placed in the title and in the case of default or non-payment of the amortization, the financial institution has a right to reposes the house and resell it.

Unsecured Loans: Unsecured loans are usually monetary in nature and the borrower need not to secure against their asset/s to the financial institution. The most common type of unsecured loan is the use of credit cards.
Posted by Tagaytay Traveller

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