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Loan & Credit Line Tax Savings

This calculator helps determine your tax savings on loans or credit lines with tax deductible interest payments. For a loan payment, select fixed term loan. For a line payment, you can choose 2%, 1.5% , 1.0% of the outstanding balance or interest only.

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For more information about this Plug-in please visit: SUN's Java™ Plug-in
For more information these financial calculators please visit: Financial Calculators from KJE Computer Solutions, LLC

Definitions

Loan amount: Total dollar amount of your loan or line of credit.
Interest rate (APR): The annual percentage rate for this loan or line of credit.
Term in months: Number of months for this loan or line of credit.
Federal tax rate:: The marginal federal tax rate you expect to pay.
State tax rate:: The marginal state tax rate you expect to pay.
Fixed loan term: Traditional amortization produces a fixed monthly payment. The monthly payment calculated will leave a zero balance at the end of the loan's term.
2%, 1.5% or 1% of balance: Your minimum payment is calculated as a percentage of the outstanding principal balance. Your minimum payment will change each month, and if you only make the minimum payment your balance will not be zero at the end of your loan's term.
100% of interest owed: For lines paying interest owed, your payment is 100% of the interest accrued during the month but no principal. Your payment may not be fixed if your interest rate or principal balance changes.

[Amortizing Loan Calculator] [Alternative Payment Frequencies]
[Debt Consolidation Calculator] [Credit Line] [Loan & Line Payment]
[Loan Comparison Calculator] [Enhanced Loan Calculator] [Loan & Credit Line Tax Savings]
[Line of Credit Payoff] [Existing Loan Calculator]
[Loan Calculators] [Financial Calculators]

Mutual funds are subject to market risk and possible loss of principal. This and other important information is contained in the prospectus, which can be obtained from a registered representative and should be read carefully before you invest or pay money. Investors should consider the investment objectives, risks, charges and expenses carefully before investing.

EquiTrust Mutual Funds are available in the following states: Arizona, Colorado, Idaho, Indiana, Iowa, Kansas, Minnesota, Montana, Nebraska, New Mexico, North Dakota, Oklahoma, South Dakota, Utah, Wisconsin and Wyoming. All of our companies are United States companies, servicing United States residents; however, all of our mutual funds are not available in every state. The information provided on this website does not apply to nor are the mutual funds available to residents of the following states: Alabama, Alaska, Arkansas, California, Connecticut, Delaware, Georgia, Hawaii, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Mississippi, Nevada, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Vermont, Virginia, West Virginia, and the District of Columbia.

Please note that all financial calculators require a Java-enabled browser. For best results use Internet Explorer 4.0 and higher or Netscape Navigator 4.0 and higher.

Information and interactive calculators are made available to you as self-help tools for your independent use. We can not and do not guarantee their accuracy or their applicability to your circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.