Loans & Credit Scores : How to Calculate a Loan Payment
Applying for a loan and asking yourself, “what
is my loan payment”. Hi, I’m Carrie Kukuda, the Someday Coach. I’m going to tell you a
little bit of how to calculate a loan payment. You need to gather up some information first.
You need to know what your loan amount is going to be, what interest rate it’s going
to be at, and how many number of months that you’re going to owe on that loan. With that
information, you can go to your search engines which there are several that you can search
for loan calculators, and they will take that, you will take that gathered information which
was your interest rate and interest rate, the number of months that you’re going to
be owing on the loan, as well as the loan amount. And you plug those numbers in, and
it’ll be able to calculate that for you. If you’re not comfortable about doing it online,
you can look at talking to your mortgage consultant or a loan originator and they can calculate
those numbers as well for you. It’s a little complicated of a formula, calculator’s the
best route to go. If you need any more tips, consult them or search the engines. Again,
I’m Carrie. Thank you very much.