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MORTGAGE CALCULATOR |
When 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.
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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.
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