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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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