Loan Calculator

Use our free loan calculator to estimate how much a business loan or personal loan will cost over time. Enter the amount you’d like to borrow, the term of your loan, and the interest rate you expect in order to generate your estimated monthly payments and total interest. You can also view an amortization payment schedule as well as principal and interest charts to get a complete picture of your loan.

Loan Calculator

How To Use This Loan Calculator

Using the loan calculator is straight forward and can be applied to a commercial loan or personal loan of any size. Enter your desired “loan amount,” the term of the loan is “number of months,” and your expected “annual interest rate.” The calculator calculates the number of monthly payments.

Click on the “Payment Schedule” button to see a month-by-month amortization schedule of your payments, with the principal and interest broken out.

Click on the “Charts” button to view a few visual graphs of how your principal and interest progress over the life of your loan.

The “Payment Method” determines when the first payment is due. With the default selection, “End-of-Period,” the first payment will be due one month after the loan is made. If “Start-of-Period” is selected, then the first payment will be due on the loan date.

The term (duration) of the loan is expressed as a number of months.

  • 120 months = 10 years
  • 180 months = 15 years
  • 240 months = 20 years
  • 360 months = 30 years

Commercial Loans

Our Michigan-based team of lending experts will work with you to understand your vision, business, and immediate goals. Together with you, they will craft a financing package that meets your needs and helps you grow your business. We provide commercial loans for a variety of uses:

Consumer Loans

Find competitive fixed rates and terms for new and previously owned autos, boats, motorcycles, snowmobiles and RVs with our consumer loans. Our lending experts will help create a personal loan that meets your needs. We provide consumer loans for a variety of uses:

  • Auto Loans
  • Boat Loans
  • Motorcycle & RV Loans
  • Home Equity Lines of Credit
  • Home Equity Loans

For more information, contact our commercial loan team at (248) 922-2700

For more information, contact our consumer loan department at (248) 922-6913