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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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