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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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