By making consistent regular payments toward debt service you will eventually pay off your loan. Use this calculator to determine how much longer you will need to make these regular payments in order to eventually eliminate the debt obligation and pay off your loan.
Loan payments gradually reduce the amount owed on the initial loan and pay for accrued interest during the life of the loan. While the payment remains the same, the amount going toward your loan principal will increase over time.
If you have additional questions, need to consider how budgeting and debt consolidation may play into your overall financial picture, contact us. We will be happy to discuss some options for your financial future.
If you are ready to apply for a loan, you can use our fast and easy online application, or apply in-person today.
