Calculating a Personal Loan Payment, APR and Fees

How Much Can You Borrow?

Of course, the best way to know exactly how much you can borrow is to talk with our team and apply for a loan. The truth is that how much you can get approved for depends on many factors, including your credit score, the amount of debt you already have and your income.

Lenders naturally want to know that they can trust you to pay back the money you borrowed, so they’re more likely to approve a larger personal loan if your credit score is good. Of course, sometimes life gets in the way of perfect credit. Talk to us about your complete financial picture. You may have more options than you think.

How Much Will Your Personal Loan Payments Be?

Your credit score also affects the interest rate you receive on your personal loan. Fees are also a factor to consider. At our credit union, you’ll find no origination fees or prepayment penalties.

What APR Is and How to Recognize a Good APR

To make it easier for you to choose the right loan for you, lenders are required to tell you your loan’s annual percentage rate (APR). The APR is what you’d get if any loan fees or charges were expressed as an annual interest rate. When you’re shopping for personal loans, you can compare the APRs on those loans to understand where you’ll get the best deal.

Generally, lower APRs are better. But, when you’re comparing them, you want to make sure that you’re comparing loans that are essentially the same. If the other terms of the loan aren’t comparable, comparing APRs might not be useful. It’s also a good idea to ask the lenders which fees are included in calculating the APR.

Get Approved for Your Personal Loan Today

After you’ve used our personal loan calculator, take the next step and apply online. You can also call us at 866-462-5532 for answers to your questions about interest rates, APR and fees that may affect your loan amount and monthly payments.