How to Calculate Personal Loan and Line of Credit Payments
Use the United Community Personal Loan and Line of Credit calculator to compare loan amounts, monthly payments and interest rates.
Loan Calculator
Use the United Community Bank personal loan and line of credit calculator to compare loan amounts, monthly payments and interest rates.
Resources
How to Get a Line of Credit or Loan
5 Pro Credit Tips We Want Everyone to Know
Interest Rates Explained
Frequently Asked Questions
With a personal loan, you get a lump sum of money all at once. With a personal line of credit, you can take out smaller amounts of money as you need it, similar to a credit card.
You can get a personal loan or line of credit for any reason, as long you qualify. Many people use personal loans or lines of credit to consolidate credit card debt at a lower interest rate, buy a car or pay for college or trade school.
As with any type of debt, it’s a good idea to weigh the pros and cons before you get a personal loan or line of credit. It may be worthwhile if it saves you money on higher-interest credit card debt or gets you through an emergency. It may not be the best idea if you plan to use it for something you could do without and can’t comfortably afford the monthly payments.
United Community Bank offers extensive personal loan and line of credit options with competitive rates. Find your nearest branch or talk with your local United Community Bank lending specialist.
Debt consolidation loans combine multiple loans and lines of credit, including credit cards, into one monthly payment with a lower interest rate.
Pros:
Pros:
- Lower interest rate
- Simplified payment process
- Ability to pay down debt faster
- Potential to improve your credit score
- Loan origination fees and closing costs
- Temptation to take out more debt on the consolidation loan
The difficulty of getting a personal loan or line of credit depends on your credit score, income, existing debt and employment history. Talk with your United Community Bank lending specialist to see where you stand and take the next steps.
Yes. If you qualify, you can get a personal loan fast. Apply for a personal loan at United Community online and get a response in minutes.
It’s possible to get a personal loan or line of credit with bad credit but you may qualify for a lower loan amount and pay a higher interest rate. Talk with your United Community Bank lending specialist to explore your options.
Like having bad credit, having no credit makes it more challenging (but not impossible) to get a personal loan or line of credit. Talk with your United Community Bank lending specialist.
Check out this article for more tips: Give Your Credit Score a Boost
Check out this article for more tips: Give Your Credit Score a Boost
If you have bad credit or no credit, a cosigner could help you qualify for a loan amount and interest rate that you wouldn’t have otherwise. Apply online and get a response in minutes.
Yes. It’s easy to start the loan or line of credit process at United Community Bank. Choose the best way for you:
- Find your nearest branch
- Talk with your local United Community Bank lending specialist
- Apply online and get a response in minutes
- The information presented in these calculators is for general and educational purposes only, and is not intended to provide legal, tax, lending or investment advice. Loan scenarios are not an application and not a commitment to lend. This information is meant to serve as estimates and may vary depending on certain conditions and restrictions. Annual Percentage Rates used within this tool are strictly informational and may not be the current advertised rates. Rates provided may be higher or lower and are in no way a binding agreement with United Community Bank.
