loan Calculator

This free script provided by
JavaScript Kit

Enter information regarding your loan in the calculator above. The results of this loan payment calculator are for comparison purposes only. They will be a close approximation of actual loan repayments if available, at the terms entered, from a financial institution. This is being provided for you to plan your next loan application. To use, enter values for the Loan Amount, Number of Months for Loan, and the Interest Rate (e.g. 7.25), and click the Calculate button. Clicking the Reset button will clear entered values. 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.
• Term of Loan - Must be entered in months. For instance, you would enter 30 years as 360 months.
• Annual Interest Rate - You may enter any interest rate in increments using decimals-- for instance, 8.125% would be valid to enter.