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Loan Calculator
Enter information
regarding your loan in the calculator above. Things to keep in
mind:
- Principal
Amount of Loan
- Enter the beginning balance of the loan. For mortgage loans, this
is usually determined by adding the home purchase price and closing
costs,
then deducting the down payment.
- Annual
Interest Rate -
This calculator requires an interest rate between 1.0% and 50%. You may
enter any increments above 1.0% -- for instance, 8.125% would be valid
to enter.
- Term
of Loan - Must be
at least 1 year. Enter increments of whole years using a decimal point.
For instance, you would enter 1 ½ years as 1.5 years.
- Monthly
Loan Payment
will be calculated after you enter information and click on the
"Calculate"
button..
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REMINDER:
If
this is a mortgage
loan, the monthly payment does NOT include an amount for property taxes
and/or insurance. |
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