WHAT IS A LOAN CALCULATOR?

MY LOAN COST CALCULATOR™ - JUMP TO THE CALCULATOR 

"UNTIL NOW, THERE WAS NO EASY WAY FOR LOAN SHOPPERS TO KNOW WHAT FEES LENDERS WERE TACKING ON TO DEALS. NOW THERE IS." 

                    -  Ken Harney, nationally syndicated real estate columnist. 

THE LOANTECH CALCULATOR CAN SAVE YOU THOUSANDS OF DOLLARS.  WHAT IS A LOAN CALCULATOR?  HOW TO USE A LOAN CALCULATOR?

My Loan Cost Calculator™

When shopping for a mortgage, consumers are faced with numerous combinations of rates and APRs (Annual Percentage Rates) which lenders are required by law to disclose in all advertisements or rate quotes.  

Unfortunately, while the APR is designed to reflect all loan costs, it is not always the best measure of a loan’s true cost to the borrower. In fact, a loan with a lower APR may actually be the more costly choice. Moreover, it is difficult for loan shoppers to determine the amount of the various fees – such as origination and document preparation -- that are typically charged by mortgage lenders.  Until now, loan shoppers had to rely on the interest rate and the time-consuming process of contacting each lender to determine what the actual loan fees are. Not anymore. 

Loan shoppers now have an easy to use and invaluable online tool – My Loan Cost Calculator™ -- that compares the different rate quotes that loan shoppers have already obtained by one or more lenders. The patent pending calculator eliminates the guesswork by calculating the amount of hidden fees to accurately determine the true cost of different loan options and identifies the best loan choice for the borrower.  

Users just enter the interest rate, APR, loan amount and term, and the calculator instantly displays the monthly payment, total loan fees, interest charges, total payments, principal paid and loan balance. Importantly, borrowers using this calculator can often realize significant savings of up to thousands of dollars or more. The calculator isn’t an offer of credit or affiliated with any lender.