|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 loans, this is
usually determined by adding the purchase price, 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
If this is a
loan, the monthly payment does NOT include an amount for taxes and/or
insurance. Note: your credit rating will affect the actual