Loan Offer Checker
Got an offer from a dealer, bank or online lender? Paste the terms and get a plain-English read: what it costs, which clauses deserve a second look, and three questions to ask before you sign.
Paste at least a sentence or two of the offer to enable the explanation.
Terms worth a second look
- APR far above the rate. A big gap means large upfront fees. Compare APRs, not rates.
- Prepayment penalty. A charge for paying early removes the benefit of extra payments.
- Balloon payment. A large lump sum due at the end; the low monthly payment hides it.
- Variable rate. Ask how often it can change, the index it follows and any caps.
- Add-on products. Credit insurance, payment protection, GAP or service contracts rolled into the loan are optional in most cases; ask for the price without them.
- Precomputed interest. Ask whether interest is simple (charged on the balance) or precomputed; early payoff saves less with the latter.
Questions people ask
What does the loan offer checker do?
Paste the text of a loan offer, quote or Truth in Lending disclosure. An AI model reads it and explains in plain English what you’d pay, which terms stand out (prepayment penalties, balloon payments, variable rates, add-on products, fees) and what to ask the lender before signing.
Is my offer stored?
No. The text is sent once to an AI model through Vercel AI Gateway to generate the explanation and is not saved by LoanCalc Kit. Remove your name, address and account numbers before pasting anyway.
Can I trust the explanation?
Treat it as a second pair of eyes, not advice. AI can misread documents. Check any figure it mentions against the calculators on this site and the document itself, and ask the lender about anything unclear.
What should a loan offer include?
For US consumer loans, the Truth in Lending Act requires the APR, finance charge, amount financed, total of payments and payment schedule. Mortgages use a standardized Loan Estimate. If those numbers are missing, ask for them in writing.