Farm Loan Calculator
A farm loan can be paid monthly or once a year. Enter the amount, the yearly rate and the number of years, and this shows each payment and how much interest the loan costs over its life.
- Free
- Works offline after your first visit
- Saves on this device
- No sign-up
- Updated
How it works
Each payment is the amount that pays off the loan at your rate, spread evenly across every payment. The rate used for each payment is the yearly rate divided by the number of payments in a year.
The total is each payment times the number of payments. The interest is that total minus the amount borrowed. Lender fees and other charges are not included.
Worked example
Borrowing $250,000.00 at 6% over 20 years, paid monthly, comes to $1,791.08 each time. Over the whole loan you pay $429,858.64 in all, and $179,858.64 of that is interest.
Questions
Does this include fees?
No. Lenders can add origination or closing fees, and those raise what you actually pay. Ask for the full terms in writing before you sign.
When would I pick once-a-year payments?
Many farms earn most of their income at harvest, so one payment a year can match the cash coming in. Monthly payments usually cost less interest in total at the same rate.
Will a lender quote the same number?
This uses the standard even-payment formula. A lender may round differently or use a different schedule, so check their figures too.
More like this
- Acre CalculatorAcres from the length and width of a plot.
- Average Daily Gain CalculatorWeight gained per day between two weighings.
- Chicken Feed CalculatorFeed amount, cost and cost per dozen eggs.
- Drip Irrigation CalculatorEmitter count and total flow for rows.
- Feed Conversion Ratio CalculatorFeed eaten divided by weight gained.
- Fertilizer Rate CalculatorPounds of product from a nutrient rate and field size.