Java Loan Calculator

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Click on the field names  
below for definitions

Enter values,
then hit compute
# of Payments
Interest Rate (%)
Principal

Est. Monthly Payment

 

Definitions

Number of Payments

Number of total monthly payments for the life of the loan. A 30 year loan would have 360 payments (30 years x 12 monthly payment/year = 360 payments).
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Interest Rate

Insert the annual interest rate you expect to pay. For 8% you can either put 8, 8.0, or even 0.08.  These will be converted to 0.08
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Principal

This figure represents the amount of the loan being taken out in order to purchase a home.  Principal generally equals the sales price, less any down payments.  Example, the principal for a $200,000 home with 10% down would be $200,000 - $20,000 = $180,000.
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This information is being provided through Wilson Homes. 
Note: This calculator provides an estimation based on regular compound interest. Some lending institutions use different methods such as daily periodic rates and will vary the payment amount. This payment amount excludes PMI, taxes, insurance, etc.

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