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Loan Calculator, free loan calculator.#Free #loan #calculator


Loan Calculator

A loan is a contract between a borrower and a lender in which the borrower receives an amount of money (principal) that they are obligated to pay back in the future. Most loans can be categorized into one of three categories:

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Paying Back a Fixed Amount Periodically

Use this calculator for basic calculations of common loan types such as mortgages, auto loans, student loans, or personal loans, or click the links for more detail on each.

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Paying Back a Lump Sum Due at Loan Maturity

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Paying Back a Predetermined Amount Due at Loan Maturity

Use this calculator to compute the initial value of a bond/loan based on a predetermined face value to be paid back at bond/loan maturity.

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First Calculation: Fixed Amount Paid Periodically

Many consumer loans fall into this category. It contains regular payments that are amortized uniformly over its lifetime. Routine payments are made on principal and interest until the loan is entirely paid off, also known as the loan having matured. These are the most familiar loans such as mortgages, car loans, student loans, and personal loans. In everyday conversation, the word “loan” will refer to this type, not the type in the second or third calculation. Below is a list of loans that fall under this category, along with links to more information and calculators. Use the following for each specific need:

Second Calculation: Single Lump Sum Due at Loan Maturity

Many commercial loans or short-term loans are in this category. Unlike the first calculation which is amortized with payments spread uniformly over their lifetimes, these loans have a single, large lump sum due at maturity. Although the lump sum includes a single payment of interest for the whole loan, it is not simple interest but accrued by compounding over the life of the loan. As a matter of fact, this is a typical calculation of how finance textbooks teach interest accumulation. Some loans, such as balloon loans, can also have smaller routine payments during their lifetimes, but this calculation only works for loans with a single payment of all principal and interest due at maturity. Compared with smaller routine payments, there is greater risk with not being able to meet the lump sum payment obligation at the end because of how relatively large it is.

Third Calculation: Predetermined Lump Sum Paid at Loan Maturity

This kind of loan is rarely made except in the form of bonds. Technically, bonds are considered a form of loan, but operate differently from more conventional loans. Mainly in that the payment at loan maturity is predetermined, which is the main difference between this calculation and the second calculation, where the maturity payment is not predetermined. The face, or par value of a bond is the amount that is paid when the bond matures, assuming the bond doesn’t default. The term is used because when bonds were first issued in paper form, the amount was printed on the “face”, meaning the front of the bond certificate. Although face value is usually important just to denote the amount received at maturity, it can also help calculate coupon interest payments, which this calculation essentially does. Note that this is mainly for zero-coupon bonds, which do not have coupon payments in between. After a bond is issued, its value will fluctuate accordingly with interest rates, market forces, and many other factors. Due to this, because the face value due at maturity doesn’t change, the market price of a bond during its lifetime can fluctuate.

Loan Basics for Borrowers

Interest Rate

Nearly all loan structures include interest, which is the profit that banks or lenders make on loans. Interest rate is the percentage of a loan paid by borrowers to lenders. For most loans, interest is paid in addition to principal repayment in order to compound over time. Compound interest is interest that is earned not only on initial principal, but on accumulated interest of previous periods also. Loan interest is usually expressed in APR, or annual percentage rate, in which compounding of interest is not accounted for, but fees are. The rate usually published by banks is the annual percentage yield, or APY, in which compounding interest is accounted for. It is important to understand the difference between APR and APY. Borrowers seeking loans can calculate the actual interest paid to lenders based on their given advertised rates by using our Interest Calculator.

Compounding Frequency

How often interest on loans compound will affect the total amount of interest paid. Generally, the more frequently compounding occurs, the higher the total amount due on the loan. In most cases, loans compound monthly as APR. Use the Compound Interest Calculator to learn more about or do calculations involving compound interest.

Loan Term

Terms of loans refer to how long they last, given that required minimum payments are made each month. For some specific loans such as mortgages or car loans, the terms can shorten if loan payments are accelerated. Terms can affect loan structures in many ways. Generally, the longer the term of a loan, the more interest will be accrued over time, raising the total cost of the loan for borrowers. However, because of a longer horizon to meet the debt obligation, routinely scheduled payments are lowered. Be sure not to confuse loan terms with the terms and conditions (T although T ?>

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Mortgage Calculator: Calculate Your Monthly Mortgage Payment, free mortgage calculator.#Free #mortgage #calculator


Mortgage Calculator

  • Monthly Payment (Principal and Interest)

Mortgage calculator for your home loan

This mortgage calculator will show how much your monthly mortgage payment would be, including your amortization schedule. See how much you could save by prepaying some of the principal. Find out your home loan breakdown now by using this simple and free mortgage calculator.

NOTE: This calculator updates automatically as you move from field to field using the “tab” key. If you’re entering prepayment information, click the “calculate” button to see the final results.

A mortgage amortization calculator shows how much of your monthly mortgage payment will go toward principal and interest over the life of your loan. The loan calculator also lets you see how much you can save by prepaying some of the principal.

How to use the loan amortization calculator

With HSH.com’s home loan calculator, you enter the features of your mortgage: amount of the principal loan balance, the interest rate, the home loan term, and the month and year the loan begins.

Your initial display will show you the monthly mortgage payment, total interest paid, breakout of principal and interest, and your mortgage payoff date.

Most of your mortgage loan payment will go toward interest in the early years of the loan, with a growing amount going toward the loan principal as the years go by – until finally almost all of your payment goes toward principal at the end. For instance, in the first year of a 30-year, $250,000 mortgage with a fixed 5% interest rate, $12,416.24 of your payments goes toward interest, and only $3,688.41 goes towards your principal. To see this, click on “Payment chart” and mouse over any year.

Clicking on “Amortization schedule” reveals a display table of the total principal and interest paid in each year of the mortgage and your remaining principal balance at the end of each calendar year. Clicking the “+” sign next to a year reveals a month-by-month breakdown of your costs.

Click “calculate” to get your monthly payment amount and an amortization schedule.

The effect of prepayments

Now use the mortgage loan calculator to see how prepaying some of the principal saves money over time. The calculator allows you to enter a monthly, annual, bi-weekly or one-time amount for additional principal prepayment.To do so, click “+ Prepayment options.”

Let’s say, for example, you want to pay an extra $50 a month. Using the $250,000 example above, enter “50” in the monthly principal prepayment field, then either hit “tab” or scroll down to click “calculate.” Initial results will be displayed under “Payment details,” and you can see further details in either the “Payment chart” or “Amortization schedule” tabs.

You may also target a certain loan term or monthly payment by using our mortgage prepayment calculator. Of course you’ll want to consult with your financial advisor about whether it’s best to prepay your mortgage or put that money toward something else, such as retirement.

HSH.com has developed a host of other free mortgage calculators to help answer your other questions, such as, “Can I qualify for a mortgage,” “Will prepaying my mortgage help me save money,” “How large of a down payment do I really need,” “What s the best way to pay for my refinance,” and “When will my home no longer be underwater?” See all of HSH.com’s mortgage calculators.

This is the dollar amount of the mortgage you are borrowing. (Hitting “tab” after entering information in any field will automatically update the calculations.)

The loan’s interest rate. Along with the term, this is the key factor used by the mortgage payment calculator to determine what your monthly payment will be. To see where rates are right now, click on the “See today’s average rates” link to the right of the field, where you can also find offers from our advertising partners.

Mortgage loans come in a range of terms. Fixed rate mortgages are most often found in 30, 20, 15 and 10-year terms; Adjustable Rate Mortgages usually have total terms of 30 years, but the fixed interest rate period is much shorter than that, lasting from 1 to 10 years.

To get the most accurate calculations, use the month and year in which your very first mortgage payment was due (or will be due). If you don’t yet have a mortgage, the current month and year will work just fine.

This display shows the monthly mortgage payment, total interest paid, breakout of principal and interest, and your mortgage payoff date.

This display shows you the total principal and interest paid in each year of the mortgage and your remaining principal balance at the end of each calendar year.

While this display table also shows you the total principal and interest paid in each year of the mortgage and your remaining principal balance at the end of each calendar year, clicking the “+” sign next to a year reveals a month-by-month breakdown of your costs.

In this optional section, you can add in a regular monthly prepayment amount, re-set the calculator to show bi-weekly payments and savings, or even do a one-time prepayment to see how it affects the cost of your home loan.

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Government Grants for Business, Education and a

Wide Range of Financial Assistance

Discover how you can Receive Government Grants for your Project or Venture.

Billions in Free Government Grants are funded by the United States Government yearly and countless millions daily by private and corporate foundations, and all the funding for these programs come from your tax dollar and company profits.

The Federal Government and these Private Foundations expect you to find out about it’s government grant money programs all by yourself. But that’s almost an impossible task, because there are so many different types of grant programs and Foundation give-a-ways that it would be a full time job just to keep track.

The Government is not hiding this information from you, it’s just that our elected officials spend all of their time developing these government programs and services and very little time promoting them.

Today! Free Government Grants and Foundation Funds are available for entrepreneurs, students, businesses, inventors, minorities, veterans, the unemployed, youth services, communities, home and real-estate buyers, artists, musicians, nurses, teachers, researchers and that’s just to name a few.

There Are Literally Billions In Grants For Any Worth While Propose!

And The Best Part Is, You Never Have To Pay It Back!

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Government Grants Are Interest Free And Non Taxable!

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Government Grants Require No Credit Checks Or Cosigners!

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Government Grants Require No Security Deposits Or Collateral!

IT’S TIME FOR YOU TO TAKE ADVANTAGE OF THIS COUNTRY’S BEST KEPT SECRET!

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Our staff has researched and compiled a program that will find you Government and/or Foundation Funds. America’s Directory To Grant Resources will provide you with thousands of grants and funding sources, which provides Government Agency Resources, Corporate and Private Foundation Funds. Including Names, Addresses, Phone Numbers, Web Sites, Contact Personal, Proposal Writing, Contact Procedures and the type of funding they issue.

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If you place your order now, you will receive a Free Consultation with our Grant Assistance Specialists . Our grants specialist will help you fill out a complete profile of your present situation and give you the assistance needed in developing and executing a plan that will help you achieve your financial goals. This personal assistance can help you find the grant that is tailored to meet your needs.

Government Grants Q A

A: No, The Government wants you to take advantage of their grant programs so each agency will be eligible for additional funding the following year.

They Must Give This Money Away.

Q: How do I get paid?

A: The Government or Foundation agency will send you an acceptance letter with your award amount.

Q: Will bad credit interfere with obtaining Government Grants?

A: NO, In fact grants are not based on your credit. This is not a loan, even the unemployed receive Federal Government Grants.

Q: What is the average grant amount awarded?

A: $500.00 to 50,000.00 is average, but it depends on what the grant will be used for. Businesses that benefit the communities have been awarded $250,000 to millions in Government Grants.

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