Use a Loan Calculator to Estimate Your Monthly Payment

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Posted on January 24, 2023 Last Updated: January 24, 2023

When you need to borrow money for a purchase, it is important to know how much that loan will cost each month. Payment calculators are a great way to estimate the cost and evaluate financing offers. Below are helpful calculators to help you navigate your loan needs.

Personal Loan Payment Calculator

A personal loan is a lump sum of cash that can be used at your discretion, but before applying for a personal loan, it is important to know how much the loan will cost you each month. The last thing you want to do is take on a loan payment that will over-extend your budget.

A personal loan payment calculator is a great way to get an idea of your monthly payment.  To get started, you need three things – the loan amount, expected interest rate and the term (months to repay). Our calculator will do the rest, providing an estimate of how much you should expect to pay each month.  

When entering your estimated interest rate, be sure to use a reasonable number. A good place to start is our Loan Rates page for an idea of current market rates. The best way to get a payment estimate is to get preapproved by a personal loan lender, like KEMBA Financial!

Mortgage Payment Calculator

As with personal loans, it is important to know how the price of a home translates to a monthly payment. Since a home is one of the largest purchases you’ll make, it is very important to know how much house you can afford in your monthly budget.

Our mortgage calculator is an easy-to-use tool to estimate your monthly payment. Using the sliders, enter in the total loan amount, an estimated interest rate, how much you are going to put down at closing and the number of years you want to pay off the mortgage.

Note:  The estimates provided on our calculator do not include property taxes, homeowners’ association fees or private mortgage insurance (PMI). To get the most accurate estimate of your monthly payment, reach out to one of our mortgage loan officers.

Auto Loan Payment Calculator

Finding the right car for your budget starts with knowing how much car you can afford. Our auto loan calculator is a great place to start! First, check out KEMBA’s current auto loan rates to get an idea of interest rates. Once you have your rate, plugin the amount of the auto loan, your estimated interest rate, how much you plan to pay for a down payment, and the number of months you’d like to finance your new vehicle. Our calculator will do the rest, and let you know how much your new vehicle will cost each month.

KEMBA Offers a Variety of Loans

A loan calculator is a handy tool, but it’s important to remember that it’s an estimate. The best way to shop for a loan is to get a pre-approval. A loan pre-approval from KEMBA provides the total amount that you qualify for based on your income, credit score and current debt load. Plus, you’ll go into the transaction with more firm details on your  interest rate and an expected monthly payment. To get pre-approved, contact our local, dedicated associates at 614.235.2395 and select Option 2 to start the process.


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