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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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