A credit union’s online tool helps members estimate loan payments. By inputting desired loan amounts, interest rates, and repayment terms, potential borrowers can quickly project monthly expenses and total interest paid. This allows for informed decisions about borrowing and budgeting.
Access to this type of financial planning resource empowers informed decision-making. It enables individuals to evaluate affordability and compare various loan scenarios before committing. Historically, obtaining such projections required direct consultation with a loan officer. Online tools provide convenient, self-service access, facilitating financial planning and potentially saving time and resources.