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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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