Enter information regarding your loan in the calculator. 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 one year. Enter increments of whole years using a decimal point. For instance, you would enter 1.5 years.
Monthly Loan Payment - This 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 the amount for property taxes and/or insurance, if applicable.