We are happy
to provide this informational tool. It is not a guarantee
or quote of current rates, but rather an excellent
method for estimating payments
over the life of a conventional loan. For exact rates,
please feel free to contact
me.
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How to use this tool:
- Payments: The number of months in the life
of the loan (e.g., a 30 year loan is 360 months)
- Interest: Input an interest rate as a whole
number, as shown below (only fixed rate estimates
are available).
- Principal: The amount of money you wish to
borrow.
To compare two similar loans, enter the second loan,
too, and compare them side by side.
When your monthly payment has been calculated, you can choose to see an amortization
schedule for your sample loan. An amortization schedule is a timetable for payment
of a mortgage loan. It shows the amount of each payment applied to interest and
principal, as well as the remaining balance after each payment is made. |
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