REMINDER: If this is a mortgage loan, the monthly payment does NOT include an amount
for property taxes and/or insurance.
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.
See What's Needed when you start looking for a loan.
