Payments…

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Calculating Monthly Payments…

Figuring out your Principal and Interest payment.*

From the current Loan Interest Rate, determine the factor from the column that describes the term in years.

Interest Rate Factor Formula

RATE %
30 YEAR
20 YEAR
15 YEAR
5.0
5.37
6.60
7.91
5.5
5.68
6.88
8.17
6.0
6.00
7.16
8.44
6.5
6.32
7.46
8.71
6.625
6.40
7.53
8.78
6.75
6.48
7.60
8.85
6.875
6.57
7.68
8.92
7.00
6.65
7.75
8.99
7.125
6.74
7.83
9.06
7.25
6.82
7.90
9.13
7.375
6.91
7.98
9.20
7.5
6.99
8.06
9.27
7.625
7.09
8.13
9.34
7.75
7.16
8.21
9.41
7.875
7.25
8.29
9.48
8.0
7.34
8.36
9.56
*per $1000.00

Example:

Purchase price of home = $165,000.00. Interest rate of 6.50% for 30 years.

165 x $6.32 = $1042.80*

*Note: this payment includes the principal and interest. This formula results in a close estimate. To get a more accurate payment, use the calculator provided above.