Finance Tools

Farm Loan Interest Cost Calculator

Estimate total interest cost for a farm loan and compare how interest changes with different rates and terms.

This calculator estimates the total interest cost of a farm loan based on amount, APR, and term. It also shows a quick “what-if” comparison so you can see how small rate changes affect total interest.

How this calculator works

  • Monthly interest rate = APR ÷ 12
  • Total payments = term (years) × 12
  • Monthly payment uses a standard amortization formula
  • Total interest = (monthly payment × total payments) − principal

Assumptions & notes

  • Fixed APR (variable-rate loans will differ)
  • Principal + interest only (fees and insurance not included)
  • Does not include taxes or closing costs
  • Your lender may use different compounding conventions

Frequently asked questions

Why does a longer term increase total interest?
Even if the monthly payment is lower, you pay interest for more months, so the total interest often increases.

How much does a 1% APR change matter?
It can be large over long terms. Use the “what-if” table to compare total interest at nearby APR values.

Does this include early payoff or extra payments?
No. Extra principal payments reduce the balance faster and usually lower total interest.

How to use this farm loan interest cost calculator

  1. Enter the farm loan amount.
  2. Enter the annual interest rate (APR).
  3. Enter the loan term in years.
  4. Click calculate to see monthly payment and total interest cost.

Example

For a farm loan of $150,000 at 6% APR over 15 years, this calculator estimates:

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