AmortMapWhat a given loan amount actually costs per month, and over its life.

AmortMap

What a given loan amount actually costs per month, and over its life.

SectionsLatest
Mortgage PaymentsPayment and total interest for a given price, rate and term.610
Car LoansMonthly payment by price, down payment and credit tier.1602
Interest & AmortizationWhere the money goes in year one against year twenty.723
What You Can AffordIncome to payment, and the ratios lenders actually use.779
  1. How Much House Can I Afford on $80K? About $295K–$340K, and Two Ratios Decide ItWhat You Can Afford · 3 min read

    Lenders will approve more than the old rule allows. The gap between what you can borrow and what you should is where most of the regret in home buying lives.

  2. Monthly Payment on a $35,000 Car Loan: $693 at 7% Over Five YearsCar Loans · 3 min read

    Dealers negotiate the monthly payment because it is the number you feel. Lengthening the term lowers it every time, and it is the most expensive way to do so.

  3. Monthly Payment on a $400K Mortgage: $2,528 at 6.5% — Before Tax and InsuranceMortgage Payments · 4 min read

    The loan calculator gives you $2,528. The bill is closer to $3,300, and the gap is made of two things no rate table contains.

  4. Total Interest Paid Over 30 Years: $510,178 on a $400K Loan at 6.5%Interest & Amortization · 4 min read

    On a $400,000 loan at 6.5%, the interest exceeds the amount borrowed. The reason sits in the first payment, where fourteen cents of every dollar touches the debt.

  5. The Interest Rate Sets the Payment. The APR Tells You What It Cost.Interest & Amortization · 3 min read

    Your monthly payment is calculated from the interest rate. The APR exists so you can compare two offers whose fees differ.

  6. Car Lending Has No Minimum Score — It Has TiersCar Loans · 3 min read

    There is no floor to fall below. There are five pricing tiers, and the gap between the top and the bottom has run past fifteen percentage points.

  7. You Do Not Have a Credit Score. You Have Dozens.What You Can Afford · 4 min read

    A 40-point gap between the score in your app and the score your lender saw is normal, and neither of them is wrong.

  8. Debt-to-Income Declines More Applications Than Credit ScoreWhat You Can Afford · 3 min read

    Underwriters read two ratios. The second one is the reason most otherwise-strong applications get turned down.

  9. Your First Payment Is Mostly Interest, and That Is ArithmeticInterest & Amortization · 3 min read

    On a 30-year loan at 6.5%, the first payment is about 79% interest. Nothing is being taken from you — the interest is simply charged on a balance that has not fallen yet.

  10. The Mortgage Minimum Depends on the Programme, Not the BandWhat You Can Afford · 4 min read

    FHA allows 580 with 3.5% down and 500 with 10%. Conventional generally wants 620. VA sets no minimum at all — but your lender does.

Car loan payment by amount and rate

1,600 calculations · Car Loans · browse all

Credit card payoff time and cost

720 calculations · Interest & Amortization · browse all

Credit score by value and what it is for

405 calculations · What You Can Afford · browse all