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Debt Payment Tools

Worksheets and calculators are useful tools for computing loan and mortgage payments and the impact of changes in loan terms.  A variety of calculators are presented in the box at the right under more information.

For more information on this topic, see the links listed below of articles posted on related Web sites.

Loan Calculators

  • Revolving Loan Calculator - University of Illinois Extension – Calculates principal and interest balances for revolving loans.
  • Loan Amortization – University of Illinois Extension -- Simple loan amortization program calculating principal, interest and outstanding balance.
  • Loan Comparison – University of Illinois Extension -- Compares terms across different loans and evaluates the benefits of refinancing.
  • Commercial Loan Calculator – CCH Financial Planning Toolkit – Use this calculator to estimate your debt service coverage with a new loan. If your debt service coverage is high enough, including your new loan payment, you have a good chance of being approved.
  • Enhanced Loan Category – CCH Financial Planning Toolkit -- Use the slider controls to instantly change your monthly payment, loan amount, interest rate or term.
  • Alternative Payment Frequencies – CCH Financial Planning Toolkit -- Use this calculator to determine your payment or loan amount for different payment frequencies.
  • Amortizing Loan Calculator – CCH Financial Planning Toolkit -- Enter your desired payment - and let us calculate your loan amount. Or, enter in the loan amount and we will calculate your monthly payment!
  • Loan Comparison Calculator – CCH Financial Planning Toolkit -- Use this calculator to sort through the monthly payments, fees and other costs associated with comparing loan options.
  • Balloon Loan Calculator – CCH Financial Planning Toolkit -- A balloon loan can be an excellent option for many borrowers, use this calculator to see how a balloon loan might work for you.
  • Line of Credit – CCH Financial Planning Toolkit -- How big a line of credit can you receive? Use this calculator to find out!
  • Equity Line of Credit Payments – CCH Financial Planning Toolkit -- What will my monthly payments be for an interest only equity line of credit?
  • Existing Loan Calculator – CCH Financial Planning Toolkit – Use this calculator to analyze one of your existing loans. Calculate your remaining balance based on the number of monthly payments you have remaining.
  • Line of Credit Payoff – CCH Financial Planning Toolkit -- Use this calculator to see what it will take to payoff your line of credit, and what you can change to meet your repayment goals.
  • Loan and Credit Line Tax Savings – CCH Financial Planning Toolkit -- This calculator helps determine your tax savings on loans or credit lines with tax deductible interest payments.
  • Loan and Credit Line Payments – CCH Financial Planning Toolkit -- This calculator helps determine your loan or line payment.

Mortgage Calculators

  • Mortgage Loan Calculator – CCH Financial Planning Toolkit – Use this calculator to determine your monthly payment and amortization schedule.
  • Mortgage Loan Calculator PITI – CCH Financial Planning Toolkit – Use this calculator to determine your monthly mortgage principal, interest, taxes and insurance payment (PITI) and amortization schedule.
  • Adjustable Rate Mortgage Calculators – CCH Financial Planning Toolkit -- Adjustable rate mortgages can provide attractive interest rates, but your payment is not fixed. This calculator helps you to determine what your adjustable mortgage payments may be.
  • Adjustable Rate Mortgage vs. Fixed Rate Mortgage – CCH Financial Planning Toolkit – A fixed rate mortgage has the same payment for the entire term of the loan. An adjustable rate mortgage (ARM) has a rate that can change, causing your monthly payment to increase or decrease. Use this calculator to compare a fixed rate mortgage to two types of ARMs, a Fully Amortizing ARM and an Interest Only ARM.
  • APR Adjustable Rate Mortgage Calculator – CCH Financial Planning Toolkit -- Use this calculator to find the APR on your adjustable rate mortgage.
  • Mortgage APR Calculator – LawInfo.com -- Use this calculator to find the APR on your mortgage.
  • Mortgage APR Calculator – CCH Financial Planning Toolkit -- Use this calculator to determine the Annual Percentage Rate (APR) for your mortgage. Press the report button for a full amortization schedule, either by year or by month.
  • Balloon Mortgage – CCH Financial Planning Toolkit -- A balloon mortgage can be an excellent option for many borrowers, use this calculator to see if a balloon mortgage might fit your needs.
  • Interest Only Mortgage Calculator – CCH Financial Planning Toolkit -- Use this calculator to generate an amortization schedule for an interest only mortgage.
  • Fixed Rate Mortgage versus Interest Only Calculator – CCH Financial Planning Toolkit -- A fixed rate mortgage has the same payment for the entire term of the loan. Use this calculator to compare a fixed rate mortgage to Interest Only Mortgage.
  • Mortgage Comparison, 15 vs. 30 years – CCH Financial Planning Toolkit -- Use this calculator to compare these two mortgage terms, and let us help you decide which term is better for you.
  • Mortgage Points – CCH Financial Planning Toolkit -- Save thousands of dollars in interest by increasing your monthly mortgage payment.

Debt Worksheets

  • Debt Consolidation Calculator – CCH Financial Planning Toolkit -- Should your business consolidate its debt? Use this calculator to find out.
 

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