| |
| |
| |
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.
|
REMINDER:
If this is a
mortgage loan, the monthly payment does NOT include an amount
for property taxes and/or
insurance. | | |
  |
