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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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