How do you figure what your loan payment will be?

Answer by  shorty (208)

I used a calculator I found on CNN website that includes taxes,PMI, down payment, and interest rate in your monthly payment. A more accurate way is to call your loan officer or bank and give them loan amounts and they will give you an accurate monthly loan payment. It can change day by day because interst rates are always fluctating.

Answer by  NGoodson (3395)

You can find loan calculators online that let you input the amount of the loan, the interest and the number of years you will be borrowing. You can try to do an estimate yourself but it's best to use a calculator because you won't be able to estimate capitalized and diminishing interest.

Answer by  MarkWatrous (729)

The easiest way is to call a local bank/credit union. The second easiest way is to find an online calculator that will determine your payment based on the principal, the interest rate and the time to pay the loan off. The third easiest way is to search for "I=p*r*t", this is the formula for determining a payment.