Virtually all Internet resources for financial, economic and commercial orientation provide online loan calculators that help potential customers to choose one or the other credit program. Loan calculator is a very useful and convenient service that allows you to calculate monthly mortgage payments, the total amount of credit, overpayment for credit and the actual annual or monthly interest rate. Calculation of payment may be by annuity scheme (equal shares) or classical (the payment is reduced proportionally). The main types of loan calculators are: mortgage, consumer and auto loans. It would seem that something is easier to fill in the required fields, has received a clear optimistic calculation-and-run issue credit. But is it really all that simple? After all, sometimes even when you make a loan you can find a significant difference between the declared and the real interest rate on the loan due to additional fees. Loan Calculator go wrong? Disingenuous financial structure itself? Let's look at the advantages and disadvantages of credit calculators, as well as the dangers that can lie in wait for us. The advantages of bank loan calculators can be attributed more accurate calculation, because they can take into account the additional fees charged for design and maintenance of the loan.

The disadvantages of bank credit calculators include the calculation of loan payments only on your loan program that makes it difficult to compare with any other offer. Universal credit calculators, most of which use sites devoted to auto, real estate, financial, or general direction, are less precise, but allow yourself to understand how to influence the finite sum of the loan term, interest rates, fees and methods of calculation used in banks. However, neither the bank nor the universal credit calculators do not take into account the additional costs of car loans (annual casco insurance, or go, one-time services of a notary, bank fee, registration services and check-in MREO) or mortgage (collateral insurance, life insurance, the borrower's title insurance, registration documents, notary services, evaluation of collateral, registration of the current account). Most appropriate to apply the credit calculators to calculate payments on consumer credit. Remember that the calculation of credit calculator allows only a rough estimate of your expenses. Credit conditions specify directly in financial institutions that interest you and only you will accept only beneficial to you solution.