What we do
CredoCalc is a set of 20 free calculators for the decisions that shape people's finances: buying a home, taking out a loan, getting out of debt, saving for a goal and investing in property. Each tool gives you the number you came for, then explains it in plain English and shows what would change it.
We don't sell loans, collect leads or rank lenders. There is nothing to sign up for. You type your numbers, you get an answer, and nothing you enter leaves your device.
Who is behind CredoCalc
CredoCalc is an independent project created and maintained by Khagen Patel. It is funded by advertising, which keeps every calculator free to use. Advertisers have no say in our content or results. See our advertising disclosure.
How we calculate
Every calculator uses standard, published financial formulas. The most important ones:
- Amortizing loans (mortgages, car, personal and generic loans) use the fixed-payment formula
M = P × r ÷ (1 − (1 + r)−n), then build the schedule repayment by repayment: interest is charged on the remaining balance, and the rest of each repayment reduces principal. - Interest rates are treated as nominal annual rates divided by the number of repayments per year (12 monthly, 26 fortnightly, 52 weekly), which is how most lenders quote them.
- Savings and investments compound at the frequency you choose. Regular contributions are added at the end of each period unless you choose otherwise.
- APR and comparison rates include fees by solving for the internal rate of return of the real cash flows.
- Debt payoff plans are simulated month by month, rolling freed-up payments into the next debt.
Each calculator page shows its exact formula and a worked example, so you can check our work. We test every calculator against independent calculations and edge cases, such as 0% rates, very short terms and repayments that don't cover interest, before publishing.
Assumptions and limits
Results are estimates. They assume the rate stays the same for the whole period (unless the calculator says otherwise), that repayments are made on time, and that the fees and costs you enter are accurate. Real loans can differ because of daily interest calculation, rounding, fees, rate changes and lender rules. We round displayed figures to whole units, or to cents where it matters, but calculate at full precision.
Editorial standards
- Independent. We do not accept payment to feature, rank or recommend any lender, product or service.
- Educational, not advice. We explain how things work and what the numbers show. We don't tell you what to do with your money.
- Accurate and current. Formulas are reviewed whenever we change a calculator, and every guide is dated. When rules differ by country (for example, PMI in the US and LMI in Australia), we say so.
- Plain English. Jargon gets explained the first time it appears, and our glossary covers the rest.
- No made-up numbers. Worked examples are calculated with the same code that powers the calculator.
Corrections
If you think a result or an explanation is wrong, please tell us with the inputs you used. We investigate every report, fix confirmed errors promptly and update the page's date when we do.
Privacy and sustainability
Calculations happen in your browser, so we never receive your income, balances or plans. Our pages are deliberately small: no heavy frameworks, no tracking scripts of our own, and a single font file. Small pages load quickly on slow connections and use less energy to deliver. Each page shows its own size in the footer.
Read the full privacy policy and terms of use.