|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
- Term of Loan - Must be at least 1 year. Enter
increments of whole years using a decimal point. For
instance, you would enter 1 1/2 years as 1.5 years.
- Monthly Loan Payment will be calculated after you
enter information and click on the "Calculate" button.
If this is a mortgage
loan, the monthly payment does NOT include an amount for
property taxes and/or