Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.
Key Principles
We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers.
Editorial Independence
Bankrate’s editorial team writes on behalf of YOU – the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information.
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey.
Bankrate follows a strict editorial policy, so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers.
We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.
Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service.
Borrowing tip: interest rate calculators
Paying interest is a fact of life. But you can limit the cost by using interest rate calculators. These online tools explain in detail the amount of interest you’ll pay on a loan, depending upon the terms of your financing. Interest rate calculators are very helpful, for instance, in determining how much of a home or car you can afford.
Here’s a look at the two most commonly used rate calculators Bankrate.com has to offer.
Mortgage calculator
At first blush, you might think you can afford a $400,000 home, but that might not be the case if you are paying a point or two more on your mortgage. Before you start shopping, figure out how much you can afford, including interest.
The Bankrate.com How much house can you afford calculator will do the work for you. You’ll need to have handy information on your wages, the price of the home, the interest rate you think you will be paying as well as monthly expenses.
Bankrate.com also offers a mortgage calculator that will tally your monthly payment with interest and lets you play with the numbers to figure out how soon you will pay off your loan if, for instance, you make extra payments.
Auto loan calculator
Like buying a new home, knowing your monthly payment on a car will help you determine how much car you can buy. Figuring out the monthly payment is simple with the Bankrate.com auto loan calculator.
Enter the amount of the loan, length and interest rate, and Bankrate.com will calculate how much you’ll pay each month. Like the mortgage calculator, it can also tell you how quickly the loan will be paid off if you make additional payments.
Share