This financing calculator provides an easy way to estimate your monthly payments and total loan cost for a specific project cost. Here’s how it works:

Key Elements:

1. Project Cost:
   Enter the total amount you need to finance. In this example, the project cost is $12,000.

2. Credit Score Range:
   Select your credit score category (e.g., Excellent, Good, Fair). Your credit score impacts the interest rate and monthly payments. Here, the selected range is Excellent (741–850).

3. Estimated Monthly Payment:
   Based on the project cost, credit score, and loan terms, the calculator shows the estimated monthly payment—in this case, $257.87 per month.

4. Principal and Interest Breakdown:

   • Principal: The original amount borrowed—in this case, $12,000.
   • Interest: The cost of borrowing over the loan term, here estimated at $3,472.04.
   • Total Loan Cost: This is the total repayment amount, combining principal and interest—$15,472.04.

5. Personalized Financing Options:
   Clicking the “Get Financing Options” button allows you to explore tailored financing plans without affecting your credit score.

6. Terms and Disclaimer:
   The calculation is based on a 5-year loan term with 60 monthly payments and an APR of 10.49%. It’s an estimate and does not account for missed payments, deferments, or other special conditions.

This tool makes it simple to evaluate the affordability of financing your project by providing clear and transparent cost estimates.