Dig into the details of your monthly loan paymentsWhether you have a personal loan or a mortgage loan, MECU Credit Union's Amortizing Loan Calculator can help you understand how your payments will shrink overtime.
"Amortizing" is just a formal way of describing how your loan balance shrinks with each payment. The upshot is that it's good to get a firm grasp of the repayment schedule and total amount that you owe.
Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.