Loan Fine-Print Decoder
Paste in any loan offer's numbers and check the clauses hiding in the fine print. This tool computes the true total cost (not just the APR), translates each clause into plain language, and gives you a sign / negotiate / walk-away verdict — for up to three competing offers side by side.
Educational modeling only — not professional financial advice. This estimates costs from the terms you enter; it can't see the full legal agreement. Always read the complete contract before signing anything.
The offers
Fill in one, two, or three offers. Everything decodes live as you type — no button needed.
Decoded
Side-by-side comparison
Assumptions behind these numbers
- Monthly payment uses standard fixed-rate amortization: payment = principal × r(1+r)n ÷ ((1+r)n − 1), with r = APR ÷ 12. Payments are modeled at the end of each month.
- Upfront fees are treated as paid out of pocket at signing (not rolled into the loan) and are added once to the total cost. If your lender rolls fees into the balance, the true cost is higher than shown.
- On-time payments, no extra payments, no late fees, no rate changes (except the variable-rate shock illustration).
- Balloon loans: the monthly payment is sized so the balance falls to exactly the balloon amount by the balloon month — payment = (principal − balloon ÷ (1+r)k) × r ÷ (1 − (1+r)−k), with k = the balloon month. The balloon is paid together with that month's regular payment and the loan ends there; any later term months are not charged. The balloon is counted exactly once — it is NOT added on top of a fully-amortizing payment (that would count the same principal twice). A balloon equal to the full loan amount means interest-only payments until the balloon month.
- The verdict weighs only what you entered. A "signable" verdict is not approval — read the full agreement.
Go Deeper
For the full picture — interest, credit, borrowing wisely, and building wealth instead of debt — read Personal Finance Made Simple by Kimani Upshur, M.Ed.