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Mortgage Calculator: Simple calculator for repayment & interest only mortgages, simple loan calculator.#Simple #loan #calculator


Ultimate Mortgage Calculator New!

8 calculators to compare mortgages, from ditching your fix to saving for a deposit

Simple loan calculator

Basic mortgage calculator

Shows the cost per month and the total cost over the life of the mortgage, including fees interest.

Total you’ll repay over full term

Could you get a cheaper rate?

Use the MSE’s Mortgage Best Buys Comparison to find the best deal for you.

Your mortgage debt over time

Your remaining debt

(assuming your interest rate stays the same)

The nerdy bit see how the debt is gradually paid off

In the first few years of the mortgage, you’re paying proportionally more interest, so the debt only reduces slowly, as the table above shows. However, making overpayments can eat into the debt and massively reduce the amount you repay in total as it means less interest overall (always check there aren’t overpayment penalties beforehand).

IMPORTANT! Please read.

This information is computer-generated and relies on certain assumptions. It has only been designed to give a useful general indication of costs.

It’s important you always get a specific quote from the lender and double-check the price yourself before acting on the information. We cannot accept responsibility for any errors (please report faults above).

Assumptions

In order to create these results, we have had to make a few assumptions:

  • 1) Interest is charged monthly.
  • 2) Interest rate stays the same over the term.
  • 3) If you selected ‘Interest only’, we assume your standard monthly payment doesn’t decrease even if you pay off some of the balance.

Martin’s FREE Printed Mortgage Help Booklets

How this site works

We think it’s important you understand the strengths and limitations of the site. We’re a journalistic website and aim to provide the best MoneySaving guides, tips, tools and techniques, but can’t guarantee to be perfect, so do note you use the information at your own risk and we can’t accept liability if things go wrong.

  • This info does not constitute financial advice, always do your own research on top to ensure it’s right for your specific circumstances and remember we focus on rates not service.
  • Do note, while we always aim to give you accurate product info at the point of publication, unfortunately price and terms of products and deals can always be changed by the provider afterwards, so double check first.
  • We don’t as a general policy investigate the solvency of companies mentioned (how likely they are to go bust), but there is a risk any company can struggle and it’s rarely made public until it’s too late (see the Section 75 guide for protection tips).
  • We often link to other websites, but we can’t be responsible for their content.
  • Always remember anyone can post on the MSE forums, so it can be very different from our opinion.

MoneySavingExpert.com is part of the MoneySupermarket Group, but is entirely editorially independent. Its stance of putting consumers first is protected and enshrined in the legally-binding MSE Editorial Code.

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FinAid, Calculators, Loan Calculator, simple loan calculator.#Simple #loan #calculator


simple loan calculator

Simple loan calculator

Simple loan calculator

Simple loan calculatorSimple loan calculator

Simple loan calculator

Simple loan calculator

Simple loan calculator

Simple loan calculator

Simple loan calculator

Simple loan calculator

Simple loan calculator

Simple loan calculator

Simple loan calculator

Simple loan calculator

Simple loan calculator

Simple loan calculator

This Loan Payment Calculator computes an estimate of the size of your monthly loan payments and the annual salary required to manage them without too much financial difficulty. This loan calculator can be used with Federal education loans (Stafford, Perkins and PLUS) and most private student loans. (This student loan calculator can also be used as an auto loan calculator or to calculate your mortgage payments.)

This loan calculator assumes that the interest rate remains constant throughout the life of the loan. The Federal Stafford Loan has a fixed interest rate of 6.8% and the Federal PLUS loan has a fixed rate of 7.9%. (Perkins loans have a fixed interest rate of 5%.)

This loan calculator also assumes that the loan will be repaid in equal monthly installments through standard loan amortization (i.e., standard or extended loan repayment). The results will not be accurate for some of the alternate repayment plans, such as graduated repayment and income contingent repayment.

Loan fees are used to adjust the initial loan balance so that the borrower nets the same amount after the fees are deducted.

Some educational loans have a minimum monthly payment. Please enter the appropriate figure ($50 for Stafford Loans, $40 for Perkins Loans and $50 for PLUS Loans) in the minimum payment field. Enter a higher figure to see how much money you can save by paying off your debt faster. It will also show you how long it will take to pay off the loan at the higher monthly payment. You can also calculate private student loan eligibility on comparison sites like Credible.

The questions concerning enrollment status, degree program and total years in college are optional and are designed to evaluate whether the total debt is excessive. The total years in college should include the total number of years in college so far (or projected) corresponding to the loan balance, including previous degrees received.


Promissory Note Form Template, simple loan agreement.#Simple #loan #agreement


Promissory Note Form Template

Promissory Note Form Information:

A promissory note is a contract or agreement between two parties. The promissory note is created when one party is borrowing money from another party. People lend and borrow money every day, and problems can arise if the transaction is not documented. By creating a simple promissory note, this will stop any of the potential issues as it will clearly date the information about the loan, and any payment or penalty information.

The promissory note we provide is a very clear, professional and simple form for you to use. It clearly details everything that is required within a promissory note, and we offer our promissory note template for you free to view. To view the blank promissory note template simply click Build My Contract above. That will create a blank promissory note sample for you to see. Then you can go back and add in the required information.

The promissory note should always provide the name and addresses of the lender, as well as the borrower. You may wish to include multiple people for lending or borrowing, and our promissory note loan agreement is set up for you to do just that.

The promissory note must detail the amount of money that is being borrowed. You should also note within the loan agreement when money will be paid back for example there may be a one-time payment at a specified date for the full amount. You may however wish to include weekly or monthly payments.

If you wish to charge interest, it should be listed in the promissory note, with the specific percentage and when exactly the interest charge shall be added to the monies owed.

If you want to charge a penalty for any late payments,you will need to list this within the loan agreement. You may also wish for the borrowing party to offer collateral. This needs to be in the loan agreement if so, to protect the persons property.

We also leave our promissory note open-ended. You may want to add in additional details that we haven t covered so there is a nice big box for you to create additional details if you need to.

Promissory Note Sample:

To see a sample of a promissory note, simply click Build my Agreement above. That shall create a blank template of a Promissory Note without any of the information filled in. That is a good example of a promissory note letter for you to see. Then you can go back and start filling in the required information to create your exact promissory note form.

Free Promissory Note Forms:

Upon activation of your first promissory note, you will have the ability to create free promissory notes. You can create an unlimited amount of promissory notes, for the minimum of one week and longer if you choose.

Promissory Note Formats:

We should also note here that our promissory note is set up in a very professional yet clear format for you to use. It provides all relevant details that is required for a promissory note.

You will be able to download or print your promissory note in a variety of formats. We offer our documents in Rich Text Format, PDF format and HTML format. This means you can download or print your Promissory Note in Adobe Acrobat, Firefox, Internet Explorer, Microsoft Word, iWorks or practically any other software out there. We aim for maximum compatibility.

All of our forms are also available for download in your preferred format, meaning you can take the form elsewhere if you need to make adjustments or print the promissory note. You can also log onto the website at any time and make changes to your promissory note or loan agreement.


Simple Interest Calculator, simple interest loan calculator.#Simple #interest #loan #calculator


Simple Interest

Simple Interest can be used to determine the present value of a future amount. Simple interest can also be used to determine the future value of a current amount. The simple interest calculator below can be used to determine future value, present value, the period interest rate, and the number of periods.

Simple Interest Definition

Simple Interest is the interest generated on a principal amount that does not compound. Interest generated in one period is not added to principal and charged interest again in the next period.

Variables

FV=Future value of the principal and interest

PV=Present value of principal before interest is applied

K=Interest rate charged per period

T=Number of periods interest is charged

I=Amount of interest charged

Simple Interest Formula

Simple interest loan calculator

Simple interest loan calculator

Simple interest loan calculator

Simple interest loan calculator

Simple interest loan calculator

Simple Interest

Simple interest is a way of accumulating interest on principal.В When money is borrowed, the borrower is usually required to pay the supplier of the funds a rate of interest until the principal has been repaid.В This is a simple concept to understand, but can have many complex ramifications, depending on how the interest is being calculated.

Simple interest is not compounded.В This means that any interest earned over a period of time will not be added to principal and charged interest again in future periods.В Simple interest accumulates without interest being charged upon it.В This is beneficial for those borrowing money, and can be costly for those lending money while charging simple interest.

Example:В Borrow $1000 for two years, at 10% simple interest annually (at the end of each year).В At the end of the first year, interest of $100 is charged, $100 simple interest is charged in the second year, and every year thereafter.В If this continues, then the amount of interest charged every year will not increase.

Since simple interest is not compounded, the frequency of interest payments or charges will not affect the total amount of interest to be paid.В Charging 1% simple interest every month is the exact same as charging 12% a year, or 60% every five years.

Governments often require financial institutions to disclose information related to simple interest and compound interest directly to its customers.В Often you will see a specific rate of interest declared as the effective annual rate (EAR), or the annual percentage rate (APR), or some derivative of the term.В A 12% annual percentage rate that is compounded monthly, will have an APR of 12.6825%, a higher amount than the rate of interest that is actually charged to the principal at each compounding frequency.

Performing the simple interest calculations is simple and can easily be calculated over longer periods.

It is important to differentiate compound interest from simple interest.В Simple interest is interest that is charged on a principal amount, like compound interest.В The difference is that once simple interest is charged, it is not added to the principal to be charged further interest.В Many bonds work this way.В Interest charged on a bond is often paid as cash, and can only be compounded if the investor who receives the cash payment of the interest finds another investment to invest in.

When simple interest is charged to principal, the rate applied to the principal is called the period rate, or periodic rate of interest.В To determine the period interest rate, simply take the annual rate of interest, and divide it by the number of compounding frequencies in a year.В If 12% interest is compounded quarterly (4 times a year), then the period interest rate is 3% (12% Simple interest loan calculatorВ 4).В

Comparing the interest costs with simple interest is very easy, as the higher the rate, the higher the cost of interest over time.В When compound interest is charged this can be more difficult.В Please see our compound interest page to understand how to compare interest costs using compound interest. В Using a powerful loan calculator or mortgage calculator such as the ones provided in this site will help borrowers to understand the actual cost of interest.

The simple interest calculator above on this page will provide you with the answers to many simple interest calculations.В Each variable of the formula is isolated, and defined.В Each simple interest formula is also provided.В When using the simple interest calculator it is important to remember to use the period interest rate, which can differ from the annual interest rate.В Divide the annual interest rate by the number of compounding periods in a year to determine the period interest rate.В You must also input the number of periods that interest will be charged for.В If monthly interest is calculated for 3 years, then simple interest will need to be calculated for 36 periods, at the period interest rate.


Motorcycle Loan Calculator – Simple Motorcycle Payment Calculator, simple loan calculator.#Simple #loan #calculator


Motorcycle Loan Calculator This Motorcycle Payment Calculator Will Make It Easy To Calculate Your Monthly Payment

The below motorcycle loan calculator will estimate your monthly payment under different assumptions. It will also provide you a complete amortization schedule.

If you are familiar with how to use a payment calculator then scroll down and start calculating. If you are not familiar, below the calculator you can find the definitions of each input to help you get the best results out of the calculator.

ATV and Motorcycle Loan Calculator

Loan Summary

How to Use The Calculator

Motorcycle Price: This is the total amount of money you will finance with your bike purchase. It should include the cost of the bike including accessories, extended warranty and other add-ons. It should not include taxes.

Down Payment: If you have cash to put down with your purchase, it goes in this cell. This should not include money received from your trade-in filled in below.

Trade In: If you are trading in your current motorcycle this is the amount of money the motorcycle dealer is giving you for trading in your current motorcycle.

Owed on Trade: If your trade-in from above has a loan on it, you will enter the payoff amount of the loan in this cell. For instance, if your trade-in motorcycle has a remaining loan of $5,000, then you would enter $5,000 in this cell.

Interest Rate: This is the Annual Percentage Rate (APR) on your loan, quoted as a percentage. (i.e. 3.99%)

Term (months): This is the number of month you will finance your bike. The average motorcycle is financed about 4 years or 48 months. However, extending the term can lower your monthly payment.

Sales Tax Rate: This is the sales tax that will be applied to your motorcycle purchase.

Start Date: This is the date of your motorcycle purchase.

Other Consideration Before Financing a Motorcycle

One item to watch out for when financing a bike is the situations where the finance lender includes fees into the interest rate. In these situations you must either back out the fees from the rate or ask the finance lender what the APR is without the administrative fees included in the rate. Since backing out the fees from the rate is a complex calculation, it is much simpler to ask for the APR without administrative fees.

If you are planning to get financing from a bank, always verify the numbers before you sign the contract. Many times banks add in hundreds of dollars in hidden fees. This fools most people because it only increases the payment slightly since the extra hidden fees are amortized over a typical 60 month term. Nonetheless, you are still paying for extra hidden fees and interest on those hidden fees.

If you suspect a bank is adding in extra fees then before you sign the contract simply tell the bank you want a photo copy of the contract and that you will return in a day or two to finalize it. Then take the copy home and find an online calculator to check the numbers. If you find errors or do not trust the bank do not use it.

Many people prefer to ignore banks altogether when getting a loan. The reason is that there are a variety of great national motorcycle lenders online where it is easy to access a motorcycle loan calculator and at the same time get great low interest rates.


FinAid, Calculators, Loan Calculator, simple loan calculator.#Simple #loan #calculator


simple loan calculator

Simple loan calculator

Simple loan calculator

Simple loan calculatorSimple loan calculator

Simple loan calculator

Simple loan calculator

Simple loan calculator

Simple loan calculator

Simple loan calculator

Simple loan calculator

Simple loan calculator

Simple loan calculator

Simple loan calculator

Simple loan calculator

Simple loan calculator

Simple loan calculator

This Loan Payment Calculator computes an estimate of the size of your monthly loan payments and the annual salary required to manage them without too much financial difficulty. This loan calculator can be used with Federal education loans (Stafford, Perkins and PLUS) and most private student loans. (This student loan calculator can also be used as an auto loan calculator or to calculate your mortgage payments.)

This loan calculator assumes that the interest rate remains constant throughout the life of the loan. The Federal Stafford Loan has a fixed interest rate of 6.8% and the Federal PLUS loan has a fixed rate of 7.9%. (Perkins loans have a fixed interest rate of 5%.)

This loan calculator also assumes that the loan will be repaid in equal monthly installments through standard loan amortization (i.e., standard or extended loan repayment). The results will not be accurate for some of the alternate repayment plans, such as graduated repayment and income contingent repayment.

Loan fees are used to adjust the initial loan balance so that the borrower nets the same amount after the fees are deducted.

Some educational loans have a minimum monthly payment. Please enter the appropriate figure ($50 for Stafford Loans, $40 for Perkins Loans and $50 for PLUS Loans) in the minimum payment field. Enter a higher figure to see how much money you can save by paying off your debt faster. It will also show you how long it will take to pay off the loan at the higher monthly payment. You can also calculate private student loan eligibility on comparison sites like Credible.

The questions concerning enrollment status, degree program and total years in college are optional and are designed to evaluate whether the total debt is excessive. The total years in college should include the total number of years in college so far (or projected) corresponding to the loan balance, including previous degrees received.


Simple Car Finance Calculations, simple loan agreement.#Simple #loan #agreement


Simple Car Finance Calculations

09/27/2001 (updated 04/30/2009) – By Philip Reed, Senior Consumer Advice Editor, Edmunds.com

Simple loan agreement

If you are looking for a good deal the next time you buy or lease a new or used car, you should do your own car finance calculations ahead of time. Then, when you get to the dealership, your numbers should agree with theirs.

Edmunds.com has created a powerful and flexible suite of calculators that performs the calculations you will need if auto financing is on your agenda. However, there are times when you are away from your computer or just want a more hands-on approach to handling the numbers. Here’s how to do several calculations you might need when figuring the cost of your car:

Often, car payments are quoted without including the tax and licensing fees. This extra expense can come as a nasty shock later on. So take a moment to figure out what they will be before you go to the dealership.

If you are considering buying a car for $20,000, make sure you know what all the options cost and add on the “destination fee” (all cars include a destination fee, typically between about $300 and $600). Once you have this total, find out what your state’s sales tax is. If it is 8 percent, convert this to a decimal number by adding .0 in front of the number. So 8 percent becomes .08. Now use the following formula:

Cost of the car + options + destination fee X sales tax In the example, let’s say that the car is $20,000 and the options total $600. The destination fee is $495.

$20,000 + $600 + $495 = $21,095 To get the sales tax, multiply this by .08:

$21,095 X .08 = $1,687.60 Added to the cost of the car, we arrive at the grand total of $22,782.60.

How to Figure Title and License Fees

Car dealerships are often vague about the DMV fees charged to a customer because there are many separate fees most of them small and seemingly insignificant. However, these fees do add up, and you should budget for them ahead of time. You won’t be able to compute these fees to the penny, but you should get an idea of what they will cost you.

In most states, the DMV fees are between 1 and 1.5 percent of the purchase price of the car. (In the second and ensuing years, these fees drop, and then, later, level off.)

To get the DMV fees for our example car, go back to the cost of the car + options + destination fee. Now multiply this by .01 or, if you’re the conservative type, .015.

$21,095 X .015 = $316.43 for DMV fees Now we see that the $20,000 car has climbed to $23,099.02 once the sales tax and DMV fees have been added. Are you sure you can afford that car you’re eyeballing?

Figuring Auto Loan Payments

Interest on the auto loan has to be computed using a complicated calculation called “amortization.” Edmunds.com has created a calculator that can perform this calculation for you so you can arrive at your accurate monthly payment for the car loan.

For more information about how to use these financial calculators, read Take Control of the Numbers.

Figuring Car Lease Payments

You can calculate your car lease payments as long as you have certain figures such as the residual value and the interest rate (in leasing, the interest rate is expressed as a multiplier called a “money factor”). A complete explanation is given under Edmunds Do-It-Yourself Leasing Guide. Again, these calculations are complex and can quickly be performed by the Edmunds’ lease calculator. However, if you would like to manipulate the data yourself, we’ve copied the formula below for you adventurous types:


Compute payments for a Simple Interest Loan #bad #credit #unsecured #loan


#calculate interest on loan
#

Discussion

A simple rate loan of money is paid back in equal installments, as interest accrues on the outstanding balance. The money paid each month goes partly to paying the monthy interest on the loan, and partly to paying down the outstanding balance of the loan. The payment is adjusted so that after a certain number of payments, the loan term, the balance is zero. The outstanding balance is also called the Principal. The number of payment installments is called the Term.

Note: An Auto loan, and many other consumer loans, use the Rule of 78 to calculate the balance in cases where you wish to pay off the loan early. In that case, the outstanding balance is more than is calculated by simple interest. That’s how things are: banks are allowed to penalize you slightly for paying off these loans early. It makes no sense to payoff these sorts of loans after about halfway through.

The formula for these loans looks complicated, but it reveals an interesting fact, which has much meaning. Making a simple interest loan and paying it off in installments is mathematically equivalent to making two seperate deals:

  1. make a simple interest loan which you pay off with a lump sum payment at the end of the loan, letting the interest on the initial principal accumulate,
  2. open a savings account which pays the same interest as the the loan, and make monthly installments to the account.
  3. At the end of the loan, the amount in the savings account equals the amount due on the loan, so you pay off the loan with the account balance, closing both.

The amount due on the loan, with accrued interest, is: that is, the principal compound with its interest for Term times. The amount saved in the bank is: that is, add up all the payments, applying individually to each, how the interest compounds as the payment sits in the bank.

The hard part is making sense of the large sum of payments compounded each by a different factor. Mathematicians know the formal power series: This is an infinite sum. This series is truncated by subtracting itself from itself after it has been shifted up by the desired amount: So the payment sum is also written: where

Setting Principal with accrued interest equal to savings with accrued interest, and simplifying some algebra: This is a formula used in the JavaScript function embedded in this page.


Cash Advance Loans – Fast And Simple To Get Even With Bad Credit #low #income #loans


#fast loans for bad credit
#

Cash Advance Loans It s Easier Than You Think

Are you faced with an urgent need for extra cash? Be it an unforeseen expense, a major bill, a last-minute wedding gift, or even an emergency medical expense, Loans.net has an assorted selection of numerous cash advance loan lenders who will provide you with an emergency loan in as little as one business day.

Get An Online Cash Advance In Just A Few Easy Steps

  • Bad credit welcome.
  • Cash in as little as one business day.
  • Low interest rates.
  • Flexible payment terms.
  • Large selection of lenders.
  • Convenient electronic deposit into you

With one simple online application form, you could be on your way to obtaining emergency advance loan in as little as one business day to help you solve your financial that is needed. Our large online network of pre-screened lenders offer not only the industry s lowest interest rates, they also provide the advantage of flexible repayment terms and unparalleled customer service for all your loan requirements.

Why pay unreasonable late fees, bounced check fees, and other bank-breaking penalties when you can avoid all of them by obtaining a simple cash loan in as little as one business day. You also have the option of requesting a simple electronic deposit of your cash loan into your savings or checking account.

A cash loan can benefit you in numerous ways, including saving late fees as a result of bounced checks and other cash-depriving penalties that you could avoid simply by obtaining a cash loan.

Considering how convenient it is to have the cash loan deposited electronically into your bank account, there is no reason for you to worry.

Simple To Get Cash Loans For Individuals With Bad Credit

If your credit history is not exemplary, you don t need to worry. Our pre-screened lenders have several programs focused on just like you individuals with past credit problems. So, even if you have low credit score, bad credit or a not-so-stellar credit history, you may still find a cash advance loan program that will not only solve your immediate financial crunch, but will also offer you the golden chance to rebuild your credit score as you make payment on time.

Find the Answer to Your Question

Why is it called a “cash advance loan” loan?


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