Our debt-to-assets calculator is designed to help prospective borrowers find out whether or not they’ll be considered a good applicant for a small business loan. When lenders look at an applicant’s credentials, one of the most important influential factors is a borrower’s existing debt. If a lender gives money to a borrower with a high amount of debt, that lender’s money is at greater risk since the borrower has multiple payments to juggle.
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This gross profit calculator is meant to give small business owners a look into how much money they’re making after factoring in their costs of the product or service they’re selling. By filling out both the total profit brought in through sales and the total cost of whatever product or service a company is offering, users can quickly see the amount of profit (or lack thereof) that they’re generating. For instance, if a business owner is bringing in $10,000 a month selling a product that he’s paying $6,000 a month to stock, this gross profit calculator will reveal that the owner is making a profit of 40 percent.
The ageless debate over renting versus buying a home, there are passionate advocates on both sides of the buying versus leasing a vehicle argument as well. Loans.org hopes to set opinion aside and let the numbers do the work. Our buy vs. leasing calculator is designed to either convince borrowers to take out an auto loan or steer them away from ownership. What’s the determining factor? The ultimate cost of buying versus leasing.
Points are up-front fees on home loans that can be paid by borrowers who are interested in securing a lower interest rate. This mortgage points calculator is designed to help borrowers determine whether or not a reduced interest rate is worth the cost of points. The cost of a single mortgage point usually equates to 1 percent of an entire home loan’s amount, so if financing $200,000, each point would cost roughly $2,000. Typically, the more points that borrowers are willing to pay when originating a mortgage loan the better the interest rate offers will be. In fact, Ginnie Mae says a single point usually reduces an offered interest rate by one-eighth of a percentage point.
The monthly auto loan calculator is designed to help borrowers calculate the total amount of money they will pay over the duration of a financing arrangement’s lifetime. This tool has the added benefit of telling borrowers what their monthly payment will be on a particular vehicle’s price as opposed to the amount of a car loan a borrower will need.
Payday loans have a bad reputation because of the negative impact they can have on individuals who turn the use of this emergency tool into a way of life. Our rollover payday loan calculator is designed to help borrowers visualize the impact of rolling over their short-term financing. “Rolling over” occurs when a borrower extends a payday loan beyond the agreed upon duration, which is usually two weeks. Whenever a borrower extends that duration by another term, they’re charged a fee equal to the fee required to originate the loan.
College costs a lot more than you might think. The expenses required to obtain a 2- or 4-year degree are much more than simple tuition. Rather, student need to think about tuition, books, school supplies, living expenses, transportation, and even entertainment. This college calculator is meant to assist students (and parents) in identifying exactly what all those costs add up to be. To use this student loan calculator, first identify which college you hope to attend. Then find out what sort of academic term that college runs on (semesters or quarters) and how many years you think it will take to acquire the degree of your choosing.
Have you ever wondered how expensive of house you could afford? This home affordability calculator is designed to let borrowers know how much of a mortgage loan they can afford at their current wages and outstanding debt. By filling out one’s monthly income (or combined monthly income for couples), size of a down payment, total outstanding debts (other loans, cell phone bills, utilities, insurance bills, etc.), expected interest rate, and term (duration), borrowers will be given an idea of what kind of mortgage loan they can afford. The property tax and homeowner’s insurance fields are optional, but should be filled out for a more accurate home affordability calculation.
Our budgeting calculator helps borrowers budget their expenses. Based on the common 50/30/20 budgeting plan, this highly customizable budget calculator divides one’s monthly income into three categories: needs, wants, and savings. According to the default settings, needs is allotted 50 percent of one’s monthly income, wants receives 30 percent of one’s monthly income, and savings gets 20 percent of one’s monthly income. If those allotments don’t work for your particular situation, feel free to tweak those percentages in their corresponding green squares (but the total of all three categories must equal 100 percent for this tool to accurately calculate one’s budget).