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- 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.
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