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Need to run the payments on a balloon loan? What would be the amortization schedule on this particular home loan? Use this calculator to determine what loan amount you can afford or what your payments will be. |
Use the drop-down list to indicate how many payments to make each
year on your loan.
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| Show Amortization Schedule? |
Check this box to open a pop-up window displaying your full amortization schedule. You can also enter text below to appear on the amortization schedule. |
| Description (if Show Amortization
Schedule is checked): |
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| Number of Payments: |
Enter the number of payments required to pay off the loan. For example, if you are taking out a 5-year loan and making monthly payments, the Number of Payments is 60. |
| Balloon Term: |
If this is a balloon payment, enter which payment number that the balloon payment will be due. Otherwise, leave blank. |
| APR: % |
Enter the Annual Percentage Rate offered on the loan. |
| Regular Payment: $ OR Principal:$ |
Enter either a regular payment or the amount of loan, but not
both! To determine how much you can afford to spend, enter a Regular Payment amount. This is the amount you wish to pay each time a payment comes due. Click Compute to see the principal amount you can afford to request. If you have a specific loan amount in mind, enter the Principal Amount (i.e., the seller's asking price). The calculator will display the regular monthly payment amount. |
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Use this calculator as a guideline only. Actual principal amount or payment amount may vary. Call the credit union for details. |
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