Free Loan Calculator — Every Loan Type, Instant Results
Our free loan calculator covers every major loan type in one place — from home equity loans and construction loans to DSCR loans, commercial property, equipment, land, auto refinance, and student loan refinance. Enter your loan amount, interest rate, and term — and get an instant monthly payment, total interest, amortization schedule, loan-to-value ratio, and side-by-side loan comparison in seconds. Built for borrowers, investors, and businesses worldwide.
🏠 Home Equity
🔨 Construction
🏢 Commercial Property
📊 DSCR
⚙️ Equipment
🌾 Land Loan
🚗 Auto Refinance
💰 Loan EMI Calculator
Calculate your monthly installments
How to Use the Loan Calculator
Our loan calculator is designed to handle every scenario — from a simple personal loan to a complex commercial property loan calculator or DSCR loan calculator analysis. Follow these steps:
- Select Your Loan Type — Use the tabs above the calculator to switch between loan types: General, Home Equity, Construction, Commercial Property, DSCR, Equipment, Land, Auto Refinance, or Student Loan Refinance. Each tab pre-fills sensible defaults for that loan category.
- Choose Your Currency — Select your preferred currency to match your local context. All output figures reflect your selected currency throughout the results and amortization schedule.
- Enter Your Loan Amount & Property Value — Input the loan amount you plan to borrow. Also enter the property or asset value — the calculator uses this to instantly compute your loan to value ratio (LTV), a key metric lenders use to assess risk and determine your rate.
- Set the Interest Rate — Enter the interest rate offered by your lender. Not sure of current rates? Refer to the rate benchmarks in the tables below for each loan type.
- Choose Your Loan Term — Select your repayment period. Loan terms vary widely by type: equipment loans run 2–7 years, land loans 5–20 years, home equity and construction loans 10–30 years.
- Add Property Tax & Insurance (Optional) — For real estate loans, including annual taxes and insurance gives you a true PITI figure — what you’ll actually pay each month.
- Click Calculate — Instantly see your monthly payment, total interest, total cost, LTV ratio, and DSCR (for investment properties). Your full year-by-year amortization schedule loads below.
- Compare Two Scenarios — Click “Compare Two Scenarios” to use the built-in loan comparison calculator. Enter a second rate and term to see exactly how much you save or spend with different loan structures.
All Loan Types — Current Interest Rates & Terms
Before using any loan calculator, it is critical to enter an accurate interest rate for your specific loan type. The table below provides current 2025 rate benchmarks for every loan category covered by our calculator.
🏠 Home Equity
🔨 Construction
🏢 Commercial Property
📊 DSCR
⚙️ Equipment
🌾 Land Loan
🚗 Auto Refinance
| Loan Type | Rate Range (2025) | Intl Rate Range (2025) | Typical Term | Max LTV |
|---|---|---|---|---|
| Home Equity Loan (HELOC) | 7.5% – 9.5% | 6.5% – 8.5% | 5 – 30 yrs | 80% – 85% |
| Construction Loan | 7.5% – 10.5% | 7.0% – 9.5% | 6 – 18 mo + 30 yr perm | 75% – 80% |
| Commercial Property Loan | 6.5% – 10.5% | 6.0% – 9.5% | 5–10 yr balloon / 25–30 yr amort | 65% – 75% |
| DSCR Loan | 7.5% – 10.0% | 7.0% – 9.5% | 15 – 30 yrs | 70% – 80% |
| Equipment Loan | 6.0% – 20.0% | 5.5% – 18.0% | 2 – 7 yrs | 80% – 100% |
| Land Loan (Raw) | 8.0% – 12.0% | 7.5% – 11.0% | 5 – 20 yrs | 50% – 70% |
| Land Loan (Improved Lot) | 7.0% – 9.5% | 6.5% – 8.5% | 10 – 20 yrs | 65% – 75% |
| Auto Refinance Loan | 5.5% – 10.5% | 5.0% – 9.5% | 24 – 84 mo | 100% – 125% |
| Student Loan Refinance | 5.0% – 9.5% | 4.5% – 8.5% | 5 – 20 yrs | N/A |
| Personal Loan (General) | 8.0% – 24.0% | 7.0% – 20.0% | 1 – 7 yrs | N/A |
Rates are indicative benchmarks as of mid-2025. Actual rates depend on credit score, LTV, lender, and market conditions. Always confirm your rate with a licensed lender before making financial decisions.
Home Equity Loans Calculator & Loan to Value Ratio Calculator
Oklahoma has one of the lowest property tax rates in the United States, making it an attractive state for homebuyers. The Oklahoma mortgage tax calculator factor you need to include is based on your county’s mill rate.
The home equity loans calculator and loan to value ratio calculator work hand in hand. Before you can determine how much you can borrow against your home’s equity, you need to understand your LTV.
How the Loan to Value Ratio Calculator Works
The LTV ratio is the single most important metric in home equity lending. It determines how much you can borrow and what interest rate you qualify for.
Most home equity lenders cap your combined LTV (your first mortgage + home equity loan) at 80%–85%. Here’s the maximum home equity loan formula:
Home Equity Loan vs. HELOC
The home equity loans calculator covers two products: a fixed Home Equity Loan (lump sum, fixed rate) and a Home Equity Line of Credit (HELOC, variable rate, revolving). When using our calculator for a HELOC, enter the amount you plan to draw, not the full credit line.
Home Equity Loan Amounts — Benchmark Table
| Home Value | Mortgage Balance | Max HE Loan (80% LTV) | Est. Monthly Payment* | LTV After |
|---|---|---|---|---|
| $250,000 | $100,000 | $100,000 | $888/mo | 80% |
| $350,000 | $150,000 | $130,000 | $1,154/mo | 80% |
| $450,000 | $200,000 | $160,000 | $1,421/mo | 80% |
| $600,000 | $250,000 | $230,000 | $2,043/mo | 80% |
| $800,000 | $300,000 | $340,000 | $3,019/mo | 80% |
*Based on 8.5% rate, 15-year term. Use the home equity loans calculator above for your exact figures.
Construction Loan Calculator — How Construction Financing Works
The construction loan calculator works differently from a standard mortgage calculator because construction loans have two distinct phases: an interest-only draw period during construction, followed by a permanent amortizing mortgage.
Draw Period (6–18 Months)
During construction, you draw funds in stages (draws) as work is completed. You pay interest only on the amount drawn — not the full loan amount. This keeps payments low while building.
Construction-to-Permanent
A construction-to-permanent (C2P) loan automatically converts to a 30-year mortgage once the home is complete. One closing, one set of fees. Most common choice for new builds.
Stand-Alone Construction Loan
A stand-alone construction loan requires a second closing for permanent financing. Riskier and more expensive, but useful if you expect rates to fall before your home is complete.
Down Payment Requirement
Construction loans typically require 20%–25% down. Some lenders base LTV on the completed home's appraised value (future value), which can reduce your required down payment.
Construction Loan Cost Comparison
| Project Cost | Down Payment (20%) | Loan Amount | Interest-Only Payment (Draw Period)* | Permanent Payment (30yr, 7.5%)** |
|---|---|---|---|---|
| $200,000 | $40,000 | $160,000 | $1,067/mo | $1,119/mo |
| $350,000 | $70,000 | $280,000 | $1,867/mo | $1,958/mo |
| $500,000 | $100,000 | $400,000 | $2,667/mo | $2,797/mo |
| $750,000 | $150,000 | $600,000 | $4,000/mo | $4,196/mo |
*Interest-only draw period based on 8.0% construction rate, full loan drawn. **Permanent phase assumes conversion to 7.5% 30-year mortgage.
💡 Construction Tip: Use the construction loan tab in our construction loan calculator to enter your draw period separately from the permanent phase. This gives you a realistic two-phase payment picture — something most basic mortgage calculators miss.
DSCR Loan Calculator & Commercial Property Loan Calculator
Both DSCR and commercial property loans are used heavily by real estate investors and business owners. Understanding the key metrics each lender evaluates — before running your numbers — makes your DSCR loan calculator or commercial property loan calculator results far more actionable.
What Is a DSCR Loan Calculator?
DSCR stands for Debt Service Coverage Ratio. It is the primary qualification metric for rental property and commercial real estate loans — replacing personal income verification. Lenders use it to confirm the property’s income can cover its debt payments.
DSCR Benchmarks — What Lenders Require
- DSCR ≥ 1.25 — Excellent. Qualifies for best rates and terms
- DSCR 1.00 – 1.24 — Acceptable. May need higher down payment
- DSCR 0.75 – 0.99 — Below break-even. Some lenders still qualify
- DSCR < 0.75 — Property income does not support the loan
Enter your property’s Net Operating Income (NOI) in the DSCR tab of our loan calculator. The calculator automatically computes your DSCR and flags whether you meet standard lender requirements.
Commercial Property Loan Calculator
The commercial property loan calculator must account for a structure unique to commercial lending: a balloon payment. Most commercial loans amortize over 25–30 years but have a balloon (full balance due) after 5–10 years.
Commercial Loan Structures Compared
- 5/25 — 5-year balloon, 25-year amortization
- 7/25 — 7-year balloon, 25-year amortization (most common)
- 10/25 — 10-year balloon, 25-year amortization
- Government-backed (SBA-style) — 10–25 year fixed term, no balloon
- Bridge Loan — 12–36 month term, interest-only
Use the Commercial Property tab and set your term to match the balloon period. The amortization schedule shows the exact balloon balance at payoff so you can plan refinancing.
DSCR Loan Rates & Requirements (2025)
| DSCR | Rate Range | Min Down Payment | Typical Max LTV | Qualification |
|---|---|---|---|---|
| 1.40+ | 7.5% – 8.5% | 20% | 80% | ✅ Excellent |
| 1.25 – 1.39 | 8.0% – 9.0% | 20%–25% | 75%–80% | ✅ Strong |
| 1.00 – 1.24 | 8.5% – 9.5% | 25%–30% | 70%–75% | ⚠ Acceptable |
| 0.75 – 0.99 | 9.5% – 11.0% | 30%–35% | 65%–70% | ⚠ Marginal |
| Below 0.75 | N/A | N/A | N/A | ❌ Typically Declined |
Rates are indicative benchmarks as of mid-2025. Actual rates depend on credit score, LTV, lender, and market conditions. Always confirm your rate with a licensed lender before making financial decisions.
Equipment Loan Calculator & Land Loan Calculator
Equipment Loan Calculator
The equipment loan calculator estimates monthly payments for financing business or personal equipment. Unlike real estate loans, equipment loans are typically short-term (2–7 years) and the equipment itself secures the loan as collateral.
Types of Equipment Typically Financed
- Heavy machinery (excavators, cranes, loaders)
- Commercial vehicles and fleet trucks
- Medical / dental equipment
- Restaurant and food service equipment
- IT systems, servers, and technology hardware
- Agricultural equipment (tractors, combines)
- Manufacturing and CNC machinery
| Equipment Cost | Rate (7yr) | Monthly Payment | Total Cost |
|---|---|---|---|
| $25,000 | 8.0% | $389/mo | $32,676 |
| $75,000 | 8.0% | $1,166/mo | $98,028 |
| $150,000 | 9.0% | $2,404/mo | $201,936 |
| $500,000 | 9.5% | $8,209/mo | $689,556 |
Based on 100% financing, 7-year term. Use the Equipment tab in our equipment loan calculator above for custom figures.
Land Loan Calculator
A land loan calculator must account for the fact that land loans are among the highest-risk loan products for lenders — resulting in higher rates, shorter terms, and larger down payments compared to standard mortgages.
Land Loan Categories
Raw Land (Unimproved)
No utilities, roads, or infrastructure. Highest risk. Rates: 8%–12%. Down: 30%–50%. Term: 5–15 years. Lenders require detailed development plans.
Unimproved Land with Infrastructure
Has road access and utilities available. Moderate risk. Rates: 7.5%–10%. Down: 25%–35%. Term: 10–20 years.
Improved / Residential Lot
Subdivision lot ready for building. Lower risk. Rates: 7%–9.5%. Down: 20%–30%. Term: 15–20 years. Best rates of the three land categories.
Auto Refinance Loan Calculator & Student Loan Refinance Calculator
Auto Refinance Loan Calculator
The auto refinance loan calculator shows you exactly how much you could save by refinancing your current auto loan at a lower interest rate or with a different term. Auto refinancing is one of the fastest ways to reduce a monthly payment burden — often approved in under 24 hours.
When to Refinance Your Auto Loan
- Your credit score has improved by 40+ points since origination
- Interest rates have dropped significantly since you bought
- You financed through a dealership at an inflated rate
- Your original loan had an unfavorable rate due to limited credit history
- You want to lower monthly payments by extending the term
| Scenario | Balance | Rate | Monthly Payment | Total Savings |
|---|---|---|---|---|
| Current Loan | $22,000 | 11.5% | $484/mo (48mo) | — |
| Refinanced Loan | $22,000 | 6.5% | $425/mo (48mo) | $2,832 |
| Current Loan | $38,000 | 10.0% | $835/mo (48mo) | — |
| Refinanced Loan | $38,000 | 6.0% | $769/mo (48mo) | $3,168 |
Use the Auto Refinance tab in our calculator to run your own current vs. new rate comparison instantly.
Student Loan Refinance Calculator
The student loan refinance calculator helps borrowers — — understand how refinancing federal or private student loans at a lower rate affects their monthly payment and total repayment cost.
Key Considerations Before Refinancing Student Loans
⚠️ Government Student Loan Warning
Refinancing government student loans into a private loan permanently eliminates access to income-driven repayment plans (where available), loan forgiveness programs, and government forbearance options. Only refinance government loans if you have stable income and don’t need these protections.
| Loan Balance | Current Rate | New Rate | New Term | Monthly Savings |
|---|---|---|---|---|
| $30,000 | 7.5% | 5.5% | 10 yrs | $33/mo |
| $55,000 | 8.0% | 5.5% | 10 yrs | $72/mo |
| $80,000 | 7.0% | 5.0% | 15 yrs | $144/mo |
| $120,000 | 8.5% | 6.0% | 20 yrs | $182/mo |
Use the Student Loan Refi tab above with your exact balance and rates to see your personalized savings projection.
Loan Comparison Calculator — 15-Year vs 20-Year vs 30-Year
One of the most powerful features of our loan comparison calculator is the ability to see the true cost difference between loan terms on the same principal. The table below uses a $250,000 loan at a 7.5% interest rate across three common terms:
| Loan Term | Monthly Payment | Total Interest Paid | Total Amount Paid | Interest Savings vs 30yr |
|---|---|---|---|---|
| 30-Year Fixed | $1,748/mo | $379,280 | $629,280 | — |
| 20-Year Fixed | $2,012/mo | $232,966 | $482,966 | $146,314 saved |
| 15-Year Fixed | $2,315/mo | $166,622 | $416,622 | $212,658 saved |
A 15-year loan saves over $212,000 in interest versus a 30-year loan — but requires $567 more per month. The right choice depends entirely on your cash flow needs and financial goals. Use the built-in loan comparison calculator above (click “Compare Two Scenarios”) to run this analysis with your exact loan amount and rates.
Loan Comparison — Rate Impact on a $200,000 Loan (20-Year Term)
| Interest Rate | Monthly Payment | Total Interest | Total Cost | vs 6.0% Rate |
|---|---|---|---|---|
| 6.0% | $1,432/mo | $143,742 | $343,742 | Baseline |
| 7.0% | $1,551/mo | $172,332 | $372,332 | $28,590 more |
| 8.0% | $1,672/mo | $201,442 | $401,442 | $57,700 more |
| 9.0% | $1,800/mo | $231,957 | $431,957 | $88,215 more |
| 10.0% | $1,930/mo | $263,264 | $463,264 | $119,522 more |
A 4-percentage-point rate difference on a $200,000 loan adds over $119,000 in total cost. Shopping multiple lenders and using our loan comparison calculator before committing is one of the highest-value financial decisions a borrower can make.
How Much Can You Borrow? Affordability Guide by Loan Type
Use these income-based benchmarks alongside our loan calculator to set a realistic borrowing budget before approaching a lender.
— Loan Affordability by Annual Income
| Annual Income | Max Home Equity Loan | Max Commercial Loan | Max Equipment Loan | Max Auto Refi Balance |
|---|---|---|---|---|
| $50,000 | Up to $80,000 | $250,000 – $350,000 | $50,000 – $80,000 | $25,000 – $35,000 |
| $75,000 | Up to $130,000 | $375,000 – $525,000 | $80,000 – $125,000 | $35,000 – $50,000 |
| $100,000 | Up to $180,000 | $500,000 – $700,000 | $110,000 – $175,000 | $45,000 – $65,000 |
| $150,000 | Up to $280,000 | $750,000 – $1.05M | $170,000 – $265,000 | $65,000 – $95,000 |
| $200,000 | Up to $380,000 | $1.0M – $1.4M | $230,000 – $360,000 | $85,000 – $125,000 |
Figures are approximate guidance based on standard DTI ratios (43% back-end max). Commercial and equipment loan amounts also factor in business financials. Consult a licensed lender for personalized qualification.
— Loan Affordability Guide
| Annual Income | Max Home Equity | Max Commercial Loan | Max Equipment Loan | |
|---|---|---|---|---|
| $65,000 | Up to $100,000 | $300,000 – $420,000 | $60,000 – $95,000 | |
| $95,000 | Up to $155,000 | $475,000 – $665,000 | $95,000 – $150,000 | |
| $130,000 | Up to $215,000 | $650,000 – $910,000 | $130,000 – $205,000 | |
| $180,000 | Up to $300,000 | $900,000 – $1.26M | $180,000 – $285,000 |
Frequently Asked Questions — Loan Calculator
What is a loan calculator and how does it work?
A loan calculator is a free financial tool that estimates your monthly payment, total interest paid, and full amortization schedule based on three core inputs: loan amount, interest rate, and loan term. It uses the standard amortization formula: M = P[r(1+r)^n]/[(1+r)^n-1], where P is the principal, r is the monthly interest rate, and n is the number of payments. Our free loan calculator covers all major loan types including home equity, construction, DSCR, commercial property, equipment, land, auto refinance, and student loan refinance — with built-in LTV and DSCR calculations.
How does a home equity loans calculator work?
A home equity loans calculator estimates your monthly payment based on the amount you borrow against your home's equity, the interest rate, and the repayment term (typically 5–30 years). To determine your maximum borrowing amount, most lenders allow you to borrow up to 80%–85% of your home's appraised value minus your outstanding mortgage balance. For example, if your home is worth $400,000 and you owe $200,000, you may borrow up to $120,000–$140,000. Enter these numbers in the Home Equity tab of our calculator to see instant payment estimates.
What is the loan to value ratio calculator and why does it matter?
The loan to value ratio calculator divides your loan amount by the appraised property value: LTV = (Loan Amount ÷ Property Value) × 100. An LTV of 80% or below lets most borrowers avoid PMI on conventional loans and qualify for the best interest rates. Our calculator computes LTV automatically when you enter both the loan amount and property value — so you always know your LTV position before approaching a lender.
What is a DSCR loan calculator used for?
A DSCR loan calculator is used by real estate investors to determine whether a rental property's income qualifies for financing. DSCR = Net Operating Income ÷ Total Annual Debt Service. Most lenders require a minimum DSCR of 1.20–1.25 to approve a loan. A DSCR of 1.0 means the property breaks even; below 1.0 means it doesn't generate enough income to cover loan payments. Enter your property's NOI in the DSCR tab of our loan calculator to instantly see your ratio and whether you're likely to qualify.
How does a construction loan calculator differ from a mortgage calculator?
A construction loan calculator differs from a standard mortgage calculator because construction loans have two phases: an interest-only draw period (6–18 months during construction) and a permanent amortizing phase (15–30 years). During the draw period, you only pay interest on funds disbursed — not the full loan amount. Our calculator's Construction tab allows you to input the draw period separately so you can see both the short-term interest-only payments and the long-term permanent mortgage payment in one calculation.
What interest rates should I enter in a commercial property loan calculator?
For a commercial property loan calculator in 2025, typical Rates range from 6.5%–10.5% depending on loan type, LTV, and borrower credit profile. Government-backed (SBA-style) loans (for owner-occupied commercial property) offer more competitive rates, typically 6.0%–7.5%. Non-owner-occupied investment property commercial loans carry higher rates — generally 7.5%–10.5%. Most commercial loans also have a balloon structure (5–10 year term with 25–30 year amortization), which our commercial tab accounts for in the amortization schedule.
How does the loan comparison calculator help me choose the right loan?
The loan comparison calculator lets you run two loan scenarios side by side — different rates, terms, or loan amounts — to see the exact monthly payment and total interest cost difference. Click "Compare Two Scenarios" above the calculator, enter your Scenario B details, and hit Compare. The results panel instantly shows the winner by monthly savings and total interest savings. Even a 1% rate improvement on a $200,000 loan over 20 years saves over $28,000 in total interest — the comparison calculator makes this visible immediately.
How does an auto refinance loan calculator help me save money?
An auto refinance loan calculator shows the exact monthly and total savings from refinancing your existing auto loan at a lower rate. Enter your current remaining balance, remaining term, and current rate. Then enter the new refinance rate. The calculator immediately shows your new payment and total savings over the remaining term. In 2025, borrowers who originated auto loans in 2021–2023 at higher rates — or through dealership financing with inflated rates — may find refinance savings of $50–$200 per month. The Auto Refinance tab in our calculator is optimized for this exact comparison.
Start Calculating Your Loan Today — Free, Instant, No Sign-Up
Whether you’re a first-time homeowner using a home equity loans calculator, a real estate investor running a DSCR loan calculator, a business owner using the commercial property loan calculator or equipment loan calculator, or a borrower comparing options with the loan comparison calculator — our free tool gives you clear, lender-grade calculations in seconds.
Use the tab switcher, enter your numbers, and run as many scenarios as you need. Knowledge of your numbers before you walk into a lender’s office is one of the most powerful negotiating advantages a borrower can have.
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