How to use our loan payment calculator
Getting a loan is a big decision, one we support customers through every day. One of the most common questions we’re asked is “how much will my payment be?”
If loan payments are on your mind, try our loan payment calculator. It’s one of the tools we’ve created to help you decide if a personal loan is right for you. Payment affordability is a priority at Fairstone; our loan payment calculator will help give you an idea of how much your loan payment might be, and how a loan can fit in your budget before you commit to a specific loan product.*
Here’s how to use the loan payment calculator:
1. Indicate if you’re a renter or a homeowner – this information allows the calculator to estimate how much you may be eligible to borrow
2. Enter how much you’re interested in borrowing – is it $2,000, $5,000, or maybe closer to $15,000? Slide the loan amount bar until it’s at the right amount for you
3. Choose how regularly you’d like to make payments. You have three options when it comes to payment frequency:
- Bi-weekly, meaning you’ll pay every other week (26 payments per year)
- Semi-monthly, meaning you’ll pay twice per month (24 payments per year)
- Monthly, meaning you’ll pay one time each month (12 payments per year)
4. Select which province or territory you’re from
5. Indicate your borrowing history (fair, good or excellent) – this information allows the calculator to provide a more accurate loan payment estimate.
6. Choose your loan term (how long you’d like to take to pay back your loan). Do you want to pay off your loan quickly with a shorter term or do you need a longer term with a lower loan payment amount?
After filling in your information, hit “submit” and watch your loan payment estimate generate on the right-hand side of the page.
To learn more about our loan products, visit our loan solutions page.*The loan payment calculated is an estimate only and does not include insurance costs or optional products, which you may choose to add on to your loan product. To get a more accurate understanding of your payment amount, submit a loan application online, by phone or in your branch.