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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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