Personal Loan Calculator
Payment and true cost including origination fees.
- Origination fee
- $450.00
- Cash you receive
- $14,550.00
- Total interest
- $2,678.91
- Total cost of borrowing
- $3,128.91
How this calculator works
Many lenders deduct an origination fee from the amount you receive. The payment is based on the full loan amount, so the fee adds to your real cost.
Formula
Fee = Loan × fee %; Cost = (Payment × n − Loan) + Fee
Example
A $15,000 loan at 11% for 36 months costs about $491 a month. A 3% fee means you receive $14,550.
When to use it
- Compare lenders that charge different fees
- Plan a debt consolidation loan
- Check the cash you actually receive
Frequently asked questions
What is an origination fee?
A one-time charge, usually 1–8% of the loan, that many lenders deduct from the money you receive. It raises the true cost of borrowing.
How can I get a lower rate?
Lenders price loans mainly on credit score, income and existing debt. Improving your credit, adding a co-borrower or comparing several prequalified offers can all help.
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