The loan amount is not always the cash you receive.

Compare the same borrowing job

Write down the amount of cash you need and the maximum payment your budget can accommodate. Then record each offer's principal, note interest rate, APR, term, origination fee, net proceeds and repayment total. A lower monthly payment over more months can still cost more in total.

The CFPB explains that interest rate and APR are different: APR incorporates additional loan charges. Our calculator takes the note interest rate and a separate withheld fee. Entering an APR that already includes the fee would mix two different measures and can overstate the estimate.

A worked example with a withheld fee

This is a hypothetical fixed-rate loan: $10,000 principal, 12% annual note interest, 36 equal monthly payments, and a 5% origination fee withheld from the proceeds. The fee is $500, so the cash received is $9,500. The estimated payment is $332.14; interest is about $1,957.15 over the term. Total cost above cash received is about $2,457.15.

The model keeps full precision internally, then rounds displayed amounts. A lender may round payments differently or use daily interest and different payment dates. Treat its final disclosures as authoritative. This example is not an available offer or an approval prediction.

When the cash shortfall matters

If your bill is $10,000, receiving $9,500 does not cover it. With a 5% fee withheld, the mathematical principal needed to net $10,000 is $10,000 divided by 0.95, or about $10,526.32. That larger principal changes the payment and interest. Do not assume the lender will offer that amount.

Compare offers for the same net cash need and term, then consider affordability separately. A fixed-rate model does not represent a variable-rate loan, late fees, insurance, or a loan with a balloon payment.

Your offer review checklist

• Find the note interest rate and disclosed APR; do not substitute one for the other.
• Confirm whether fees are withheld, paid separately, or financed.
• Compare net proceeds and total scheduled payments, not just the headline amount.
• Read prepayment, late-payment, and timing terms directly.
• Export the calculation and attach your own offer notes without account numbers.