Mortgage Calculator: Calculate Your Monthly Mortgage Payment #finance #car #deals


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Credit Cards

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Mortgages

Loans

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Mortgage calculator

Mortgage calculator

Mortgage calculator

Our estimated monthly payment provides an overview of everything that makes up your payment: such as principal and interest, plus additional costs — like taxes and insurance. The more info you’re able to provide, the more accurate your total monthly payment estimate will be.

If you’re really into math and want to know how the numbers work, here’s how to calculate your monthly mortgage payments on a fixed-rate loan:

M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1]

Let’s break that down a little further. The variables are as follows:

  • M = monthly mortgage payment
  • P = the principal, or the initial amount you borrowed.
  • i = your monthly interest rate. Your lender likely lists interest rates as an annual figure, so you’ll need to divide by 12, for each month of the year. So, if your rate is 5%, then the monthly rate will look like this: 0.05/12 = 0.004167.
  • n = the number of payments over the life of the loan. If you take out a 30-year fixed rate mortgage, this means: n = 30 years x 12 months per year, or 360 payments.

As mentioned above, the longer the loan, the less you’ll pay each month. You will, however, also pay more in total because interest compounds. Essentially, you’ll pay interest on interest. So you multiply the interest rate by itself for each term of payment — hence the exponent in the formula. That will have a great bearing on your decision between a 30-year fixed-rate and a 15-year.

Say you’ve decided to buy a home that’s appraised at $500,000, so you take out a $400,000 loan with an interest rate of 3.5%. First, let’s take a look at a 30-year loan. For quick reference, again, the formula is:

M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1]

Our P, or principal, is $400,000.

Remember, with i, we must take the annual interest rate given to us — 3.5%, or 0.035 — and divide by 12, the number of months in a year. This calculation leaves us with 0.002917, or i.

Our n, again, is the number of payments. And with one payment every month for 30 years, we multiply 30 by 12 to find n = 360.

When all s said and done, for a 30-year loan at 3.5% interest, we’ll pay $1,796.18 each month.

For a 15-year loan, the math is nearly identical. All that’s different is the value of n. Our loan is half the length, and so the value for n is 180. Each month we’ll pay $2,859.53, over 60% more than with the 30-year loan.

Over the length of the loan, though, the 15-year loan is a far better deal, considering the interest you pay — $514,715 in total. With the 30-year, you pay $646,624 total — over $100,000 more.

Your decision between these two, quite simply, hinges on whether or not you can float the significantly higher monthly payments for a 15-year loan.

A little math can go a long way in providing a “ how much house can I afford? ” reality check.

NerdWallet’s Mortgage Calculator makes it easy to compare common loan types to see how each type of loan affects your monthly payment. We source the latest weekly national average interest rate from Freddie Mac, so you can accurately estimate and compare your monthly payment for a 30-year fixed. 15-year fixed. and 5/1 ARM.

To help pick the right mortgage for you, you should consider the following:

  1. How long do you plan to stay in your home?
  2. How much financial risk can you accept?
  3. How much money do you need?

15- or 30-year fixed rate loan: If you’re settled in your career, have a growing family and are ready to set down some roots, this might be your best bet because the interest rate on a fixed-rate loan never changes.

In general, for a 30-year fixed loan, you will have the lowest monthly payment but the highest interest rate. However, with a 15-year fixed, you’ll have a higher payment, but will pay less interest and build equity and pay off the loan faster.

It’s worth noting though, that if other fees are rolled into your monthly mortgage payment, such as annual property taxes or homeowner’s association dues, there may be some fluctuation over time.

5/1 ARM and adjustable-rate mortgages: These most often appeal to younger, more mobile buyers who plan to stay in their homes for just a few years or refinance when the teaser rate is about to end.

These loans have interest rates that reset at specific intervals. They typically begin with lower interest rates than fixed-rate loans, sometimes called teaser rates. After the initial term ends, the interest rate — and your monthly payment — increases or decreases annually based on an index, plus a margin.

Paying a lower interest rate in those initial years could save hundreds of dollars each month that could fund other investments. But be careful. Your interest rate and monthly payment will increase after the introductory period, which can be 3, 5, 7 or even 10 years, and can climb substantially depending on the terms of your specific loan.


GE Money Home Loan Calculator 2016 – Calculate EMI Online #finance #online


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GE Money Home Loan Calculator 2016 Calculate EMI Online

GE Money Home Loan EMI Calculator. Use this simple tool to calculate ✓ Eligibility ✓ Monthly EMI ✓ Loan Amount ✓ ROI ✓ Principal Amount ✓ Total Interest at Loansninsurances.com.

Is owning your own home still a distant dream? Not any more! GE Money says Yes! to making it possible for you. GE Money Housing Finance offers you complete solutions for all your housing related needs. Approval for a GE Money Home Loan today. Avail of unmatched advantages.

GE MONEY HOME LOAN INSTANT QUOTES ONLINE

A smart consumer is supposed to have all information before applying for home loan. By using simple method through www.loansninsurances.com one can easily calculate his forthcoming EMI for home loan.

Some of the attractive features of GE Money Home Loan that are offered to consumers are:

  • – Home Loans upto Rs. 2 Crores
  • – Attractive interest rates
  • – Up to 80% of property value as loan
  • – Loans for ready to move-in residential properties
  • – Longer tenor of up to 20 years
  • – Attractive offers on Loan Transfer from other banks
  • – Insurance Cover on your Home Loan
  • – Income Tax benefits
  • – Simple documentation and doorstep service

Steps: Application Process for Home Loan

Steps: EMI Calculation

Just by entering the following inputs in the EMI calculator, you will get an indicative amount of EMI:

  1. Intended loan amount in INR
  2. Number of years you wish to pay in months or year.
  3. Interest rate, which you have opted for home loan in percent

Where E is EMI, P is Principal Loan Amount, r is rate of interest calculated on monthly basis. (i.e. r = Rate of Annual interest/12/100. If rate of interest is 10.25% per annum, then r = 10.25/12/100=0.00854)

GE Money Loan EMI Calculator:

Fill Loan Amount, Interest rate Tenure in Fields get Instant Calculation for Home Loan EMI within seconds.

Documents for Home Loan:

Identity Proof (any One): Passport / Voter ID card / Photo credit card / Pan card / Driving license / Present employer ID card
Signature Verification (any One): Pan card / Driving license / Passport / Credit card / Verification from bank Residence Proof (any One): Ration card / Utility bills / Passport / Voter ID card / Live lease deed / Present employers certificate

Income Proof
Salaried Individuals
• Latest Salary Slip showing statutory deductions, and
• Form 16 (duly signed by authorized signatory of the company), Or
• Latest acknowledged IT Returns
• Bank Statement from main account for the last 6 months

Self-employed Individuals
• Duly acknowledged IT Returns and computation of Income for latest 2 yrs, and
• Bank Statement from main account for the last 6 months
• Copies of Self Attested or Audited financial statements of the firm/ Company in which applicant/ co-applicant is the partner/ Owner/ Director (as the case may be)
• Partnership Deed, Articles and MOA of the company (as the case may be)
• A recent passport size photograph duly signed by the applicant and the co-applicant.

A recent passport size photograph duly signed by the applicant and the co-applicant.
• Schedule + 12 months of bank statements OR 12 months Repayment Track from Approved Financier with 6 months bank statement showing 6 EMI debits.
• Photocopy of RC in case of auto loan surrogate. In case of Top up, please give proof of loan continuity.
• In case you would like to give cheques from a different a/c, complete 6 months bank statement for the same account is required
• Bank Statement Verification Authorization letter duly signed by you
• Valid Business ownership Proof.

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How to Calculate the Finance Charge on a Credit Card Balance #finance #rates


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wiki How to Calculate the Finance Charge on a Credit Card Balance

With so many consumers using credit cards today, it is important to know exactly what you are paying in finance charges. Different credit card companies use different methods to calculate finance charges. Companies must disclose both the method they use and the interest rate they are charging consumers. This information can help you calculate the finance charge on your credit card.

Steps Edit

Method One of Two:
Understanding the Finance Charge Edit

Know what a finance charge is. Credit card terms can be confusing to navigate for many, so understand what a finance charge is and how it affects you.

  • A finance charge is what allows credit card companies and lenders to make a profit off of you. It’s more or less a fee charged for the use of your credit card. Finance charges on credit cards are usually flat rates, as opposed to finance charges on mortgages and cars, which have ranges that depend on a person’s credit score. [1]
  • A finance charges is the total cost of borrowing, including interest, fees, and any other charges the borrower pays. [2]
  • Knowing the finance charge of your credit card can help you budget better and determine how much money you’re really saving with a particular credit card.

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Figure out which method your bank uses. Most banks calculate a finance charge using one of two methods: one-cycle finance charge including purchases, or one-cycle finance charge not including purchases. The methods require a different means of calculation. The name of the methods your creditors use should be listed somewhere on your monthly statement. You need to identify the method before you proceed to calculate your score. [3]

Gather the necessary numbers. A variety of numbers go into each equation for calculating a finance charge. Before you sit down and being punching numbers into your calculator, make sure you know the following information:

  • The outstanding balance on your credit card. That is, the total amount you owe. [4]
  • The number of days in each billing cycle.
  • Please note, that depending on the method your bank uses you may need to calculate new purchases into your outstanding balance and not just go off of whatever’s written on your bill. [5]

Method Two of Two:
Calculating One-Cycle Finance Charges Edit

Calculate the average daily balance including new purchases. This is generally the most common method credit card companies use to calculate a finance charge. It is also the most expensive, as new purchases and balances are accounted for immediately with no grace period to avoid accruing interest. Some credit card companies allow a grace period between the purchase date and the date the bill is due, so that if you pay your bill completely on time, there is no interest charged. [6]

  • Add up the outstanding balance for each day in your billing period. Include any new purchases made to this balance. For example, if your balance was $180 for 10 days, you get $1,800. Then, say your balance was $110 for 5 days. You get $550. Then, for 15 days, your balance was $90. You get $1,350. Once you have a range of numbers spanning the complete billing cycle, add all these numbers together. For example, $1,800 plus $550 plus $1,350 comes to $3,700. [7]
  • Divide this number by the total number of days in your billing cycle. Most billing cycles are 30 to 31 days. The number you get is the average daily balance that is then used to calculate the interest owed. For the above example, the average daily balance would be 3,700 divided by 30, coming to approximately $124. The finance charge is the APR (Annual Percentage Rate) adjusted for the number of billing cycles in a year times the average daily balance. For example, if the APR is 18% with 12 billing cycles, the monthly rate would be 1.5%. The finance charge would be the 1.5% of the average daily balance. [8]

Calculate the average daily balance excluding new purchases. Sometimes, new purchases are not accounted for when adding up your outstanding balance.

  • Add up the outstanding balance for each day in your billing period. The calculation is basically the same as before, only you do not account for new purchases. [9]
  • Once again, divide this number by the number of days in the billing cycle. This is your finance average daily balance.The finance charge is the APR (Annual Percentage Rate) adjusted for the number of billing cycles in a year times the average daily balance. [10]
  • Note that a different APR can be applied for different items such as transfers or cash advances. Also, APR rates may expire after a certain period.

Understand the implications of each method. These two methods, while similar, are vastly different in how they affect you as a credit card user.

  • If you’re using your credit card to make purchases, such as gas and groceries, you should look for a card that excludes new purchases from the daily balance. This way, you have a small grace period between billing cycles each month. [11]
  • In general, it’s best to avoid cards that include new purchases in your daily balance. Depending on the credit card company, there may not be a grace period, and finance charges can increase quickly. If you’re using your card just to transfer balances and do not make purchases on it, however, you won’t be as affected. [12] Note that the balance on which interest is calculated can vary from issuer to issuer including ending balance, previous balance, and so on. [13]

Calculate Your Monthly Boat Loan Costs #close #premium #finance


#boat finance

#

Financing Your Boat

Calculate Your Monthly Boat Loan Costs

Boat Loan Calculator

Boating may be more affordable than you think. In some instances, you can buy a brand new boat for around $250 a month, while a new PWC may be purchased for around $125 a month. Interest on a boat loan may be deductible if the boat has a galley, berth and head. If you know your monthly budget amount, enter it in the total loan amount window and work backwards to determine what size loan you can afford. If you know the cost of the boat or PWC you want, put that amount in the monthly payment window to determine your monthly payment.

Please note: Results received from this calculator are designed for comparative purposes only, and accuracy is not guaranteed. By using this program you acknowledge that the National Marine Lenders Association (NMLA) shall not be responsible for any damages resulting from the use of the Loan Calculator by you or any other person, however caused.

To determine actual interest rates and terms, call a National Marine Lenders Association member, and visit one of their websites.


2 Easy Ways to Calculate Finance Charges on a New Car Loan #marac #finance


#finance charge calculator

#

How to Calculate Finance Charges on a New Car Loan

Determine how much you will borrow. Typically, buyers will make a cash down payment on their new car and borrow from a lender to cover the remaining cost. This borrowed amount, known as the principal, will serve as the basis for your car loan. [1] Keep in mind that you should put as much money down on your car as possible to minimize the amount borrowed and reduce your finance charges.

  • This step will require you to know roughly how much your new car will cost. See How to Buy a New Car for more information about finding a good price and working within your budget.

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Figure out the annual percentage rate (APR) and duration of your loan. The APR reflects how much additional money you will have to pay beyond your principal for each year of your loan. A low APR will reduce the yearly and monthly amounts of finance charges on your loan. However, many low-APR loans are longer in duration, so the overall cost may remain relatively high. Alternately, a short-term loan with a higher APR may end up being cheaper overall. This is why it is important to calculate your finance charges beforehand.

  • Getting a low APR on your car loan may mean seeking other lenders beyond your car dealership. Be sure to do your research and select the cheapest available combination of APR and duration. See How to Get a Low APR on a Car Loan for more information.

Find out how many payments you will make each year. The majority of car loan payments are made on a monthly basis. When calculating your monthly payments, you will need to know both how many payments you will make each year and how many payments you will make in total. This information can be easily found in the terms of your car loan. [2]

Find your monthly payment. To find your total finance charges over the life of your loan, start by calculating your monthly payment. How to do this is explained in the previous section.

Plug that number into the total finance charges formula. The formula is as follows: Monthly Payment Amount x Number of Payments – Amount Borrowed = Total Amount of Finance Charges [5]

  • So, in our example, this would be:
    • $409 x 60 – $20,000 = Total amount of finance charges
    • $24,540 – $20,000 = Total amount of finance charges
    • Total amount of finance charges = $4,540

Check your work. To be sure that you calculated your total correctly, divide that number by the total number of payments (60, in this case). $4,540/60 = 76. If the result matches your monthly finance charges you calculated earlier, then you have the correct number for total finance charges.

How to Get a Low APR on a Car Loan

How to Buy a New Car

How to Calculate Auto Loan Payments

How to Get Out of a Car Loan

How to Get Someone to Take Over Your Car Payments

How to Buy or Lease a Car when You Have Bad Credit

How to Get a Car Loan With No Credit or Bad Credit

How to Reduce the Monthly Car Payments You Are Paying

How to Find Liens on Vehicles

How to Break a Car Lease


Mortgage Calculator: Calculate Your Monthly Mortgage Payment #bajaj #consumer #finance


#mortgage finance calculator

#

Credit Cards

Banking

Investing

Mortgages

Loans

Insurance

Credit Cards

Banking

Investing

Mortgages

Loans

Insurance

Mortgage calculator

Mortgage calculator

Mortgage calculator

Our estimated monthly payment provides an overview of everything that makes up your payment: such as principal and interest, plus additional costs — like taxes and insurance. The more info you’re able to provide, the more accurate your total monthly payment estimate will be.

If you’re really into math and want to know how the numbers work, here’s how to calculate your monthly mortgage payments on a fixed-rate loan:

M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1]

Let’s break that down a little further. The variables are as follows:

  • M = monthly mortgage payment
  • P = the principal, or the initial amount you borrowed.
  • i = your monthly interest rate. Your lender likely lists interest rates as an annual figure, so you’ll need to divide by 12, for each month of the year. So, if your rate is 5%, then the monthly rate will look like this: 0.05/12 = 0.004167.
  • n = the number of payments over the life of the loan. If you take out a 30-year fixed rate mortgage, this means: n = 30 years x 12 months per year, or 360 payments.

As mentioned above, the longer the loan, the less you’ll pay each month. You will, however, also pay more in total because interest compounds. Essentially, you’ll pay interest on interest. So you multiply the interest rate by itself for each term of payment — hence the exponent in the formula. That will have a great bearing on your decision between a 30-year fixed-rate and a 15-year.

Say you’ve decided to buy a home that’s appraised at $500,000, so you take out a $400,000 loan with an interest rate of 3.5%. First, let’s take a look at a 30-year loan. For quick reference, again, the formula is:

M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1]

Our P, or principal, is $400,000.

Remember, with i, we must take the annual interest rate given to us — 3.5%, or 0.035 — and divide by 12, the number of months in a year. This calculation leaves us with 0.002917, or i.

Our n, again, is the number of payments. And with one payment every month for 30 years, we multiply 30 by 12 to find n = 360.

When all s said and done, for a 30-year loan at 3.5% interest, we’ll pay $1,796.18 each month.

For a 15-year loan, the math is nearly identical. All that’s different is the value of n. Our loan is half the length, and so the value for n is 180. Each month we’ll pay $2,859.53, over 60% more than with the 30-year loan.

Over the length of the loan, though, the 15-year loan is a far better deal, considering the interest you pay — $514,715 in total. With the 30-year, you pay $646,624 total — over $100,000 more.

Your decision between these two, quite simply, hinges on whether or not you can float the significantly higher monthly payments for a 15-year loan.

A little math can go a long way in providing a “ how much house can I afford? ” reality check.

NerdWallet’s Mortgage Calculator makes it easy to compare common loan types to see how each type of loan affects your monthly payment. We source the latest weekly national average interest rate from Freddie Mac, so you can accurately estimate and compare your monthly payment for a 30-year fixed. 15-year fixed. and 5/1 ARM.

To help pick the right mortgage for you, you should consider the following:

  1. How long do you plan to stay in your home?
  2. How much financial risk can you accept?
  3. How much money do you need?

15- or 30-year fixed rate loan: If you’re settled in your career, have a growing family and are ready to set down some roots, this might be your best bet because the interest rate on a fixed-rate loan never changes.

In general, for a 30-year fixed loan, you will have the lowest monthly payment but the highest interest rate. However, with a 15-year fixed, you’ll have a higher payment, but will pay less interest and build equity and pay off the loan faster.

It’s worth noting though, that if other fees are rolled into your monthly mortgage payment, such as annual property taxes or homeowner’s association dues, there may be some fluctuation over time.

5/1 ARM and adjustable-rate mortgages: These most often appeal to younger, more mobile buyers who plan to stay in their homes for just a few years or refinance when the teaser rate is about to end.

These loans have interest rates that reset at specific intervals. They typically begin with lower interest rates than fixed-rate loans, sometimes called teaser rates. After the initial term ends, the interest rate — and your monthly payment — increases or decreases annually based on an index, plus a margin.

Paying a lower interest rate in those initial years could save hundreds of dollars each month that could fund other investments. But be careful. Your interest rate and monthly payment will increase after the introductory period, which can be 3, 5, 7 or even 10 years, and can climb substantially depending on the terms of your specific loan.


2 Easy Ways to Calculate Finance Charges on a New Car Loan #finance #furniture


#finance charge calculator

#

How to Calculate Finance Charges on a New Car Loan

Determine how much you will borrow. Typically, buyers will make a cash down payment on their new car and borrow from a lender to cover the remaining cost. This borrowed amount, known as the principal, will serve as the basis for your car loan. [1] Keep in mind that you should put as much money down on your car as possible to minimize the amount borrowed and reduce your finance charges.

  • This step will require you to know roughly how much your new car will cost. See How to Buy a New Car for more information about finding a good price and working within your budget.

Can you please put wikiHow on the whitelist for your ad blocker? wikiHow relies on ad money to give you our free how-to guides. Learn how .

Figure out the annual percentage rate (APR) and duration of your loan. The APR reflects how much additional money you will have to pay beyond your principal for each year of your loan. A low APR will reduce the yearly and monthly amounts of finance charges on your loan. However, many low-APR loans are longer in duration, so the overall cost may remain relatively high. Alternately, a short-term loan with a higher APR may end up being cheaper overall. This is why it is important to calculate your finance charges beforehand.

  • Getting a low APR on your car loan may mean seeking other lenders beyond your car dealership. Be sure to do your research and select the cheapest available combination of APR and duration. See How to Get a Low APR on a Car Loan for more information.

Find out how many payments you will make each year. The majority of car loan payments are made on a monthly basis. When calculating your monthly payments, you will need to know both how many payments you will make each year and how many payments you will make in total. This information can be easily found in the terms of your car loan. [2]

Find your monthly payment. To find your total finance charges over the life of your loan, start by calculating your monthly payment. How to do this is explained in the previous section.

Plug that number into the total finance charges formula. The formula is as follows: Monthly Payment Amount x Number of Payments – Amount Borrowed = Total Amount of Finance Charges [5]

  • So, in our example, this would be:
    • $409 x 60 – $20,000 = Total amount of finance charges
    • $24,540 – $20,000 = Total amount of finance charges
    • Total amount of finance charges = $4,540

Check your work. To be sure that you calculated your total correctly, divide that number by the total number of payments (60, in this case). $4,540/60 = 76. If the result matches your monthly finance charges you calculated earlier, then you have the correct number for total finance charges.

How to Get a Low APR on a Car Loan

How to Buy a New Car

How to Calculate Auto Loan Payments

How to Get Out of a Car Loan

How to Get Someone to Take Over Your Car Payments

How to Buy or Lease a Car when You Have Bad Credit

How to Get a Car Loan With No Credit or Bad Credit

How to Reduce the Monthly Car Payments You Are Paying

How to Find Liens on Vehicles

How to Break a Car Lease


How to Calculate Your Own Finance Charge #ford #finance


#finance charge calculator

#

How to Calculate Your Own Finance Charge

Updated July 21, 2016

Your credit card billing statement will always contain your finance charge (if you have one), so there’s not necessarily a need to calculate it on your own. But, knowing how to do the calculation yourself can come in handy if you want to know what finance charge to expect on a certain credit card balance or you want to verify that your finance charge was billed correctly.

You can calculate finance charges as long as you know three numbers: the credit card (or loan) balance, the APR. and the length of the billing cycle .

Calculating Finance Charges the Simple Way

The simplest way to calculate a finance charge is balance X monthly rate. For this example, we’ll say each billing cycle lasts a month (so there are 12 billing cycles in the year) and that you have a $500 credit card balance with an 18% APR.

First, calculate the periodic rate by dividing the APR by the number of billing cycles in the year, which is 12 in our example. Remember to convert percentages to a decimal. The periodic rate is .18 / 12 0.015 or 1.5%. The monthly finance charge is 500 X .015 $7.50 .

Calculating Finance Charges With Shorter Billing Cycles

With most credit cards, the billing cycle is shorter than a month, for example, 23 or 25 days. If you have a different billing cycle, calculate your finance charge like this: balance X APR X days in billing cycle / 365 .

Example: If your billing cycle is 25 days long, the finance charge for that billing period would be 500 x .018 X 25 / 365 $6.16 .

You might notice that the finance charge is lower in this example even though the balance and interest rate are the same. That s because you re paying interest for fewer days, 25 vs. 31. The total annual finance charges paid would end up being roughly the same.

Variations in Credit Card Issuer Finance Charge Calculation Methods

The examples we’ve done so far are simple ways to calculate your finance charge, but still may not represent the finance charge you see on your billing statement.

That’s because your creditor will use one of five finance charge calculation methods that takes into account transactions made on your credit card in the current or previous billing cycle. Read the back of your credit card statement to figure out which method your credit card issuer uses.

The ending balance and previous balance methods are easier to calculate. The finance charge is calculated based on the balance at end or beginning of the billing cycle.

The adjusted balance method is slightly more complicated; it takes the balance at the beginning of the billing cycle and subtracts payments you made during the cycle.

The daily balance method sums your finance charge for each day of the month. To do this calculation yourself, you need to know your exact credit card balance everyday of the billing cycle. Then, multiply each day’s balance by the daily rate (APR/365). Add up each day’s finance charge to get the monthly finance charge.

Credit card issuers most often use the average daily balance method. which is similar to the daily balance method.

The difference is that each day’s balance is averaged first and then the finance charge is calculated on that average. To do the calculation yourself, you need to know your credit card balance at the end of each day. Add up each day’s balance and then divide by the number of days in the billing cycle. Then, multiply that number by the APR and days in the billing cycle. Divide the result by 365.

Note that you may not have a finance charge if you have a 0% interest rate promotion or if you ve paid the balance before the grace period .


Mortgage Calculator from – Calculate Payments with Ease #finance #projects


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Mortgage Calculator

About our Mortgage Rate Tables

About our Mortgage Rate Tables: The above mortgage loan information is provided to, or obtained by, Bankrate. Some lenders provide their mortgage loan terms to Bankrate for advertising purposes and Bankrate receives compensation from those advertisers (our “Advertisers”). Other lenders’ terms are gathered by Bankrate through its own research of available mortgage loan terms and that information is displayed in our rate table for applicable criteria. In the above table, an Advertiser listing can be identified and distinguished from other listings because it includes a “Next” button that can be used to click-through to the Advertiser’s own website or a phone number for the Advertiser.

Availability of Advertised Terms: Each Advertiser is responsible for the accuracy and availability of its own advertised terms. Bankrate cannot guaranty the accuracy or availability of any loan term shown above. However, Bankrate attempts to verify the accuracy and availability of the advertised terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. Click here for rate criteria by loan product.

Loan Terms for Bankrate.com Customers: Advertisers may have different loan terms on their own website from those advertised through Bankrate.com. To receive the Bankrate.com rate, you must identify yourself to the Advertiser as a Bankrate.com customer. This will typically be done by phone so you should look for the Advertiser’s phone number when you click-through to their website. In addition, credit unions may require membership.

Loans Above $417,000 May Have Different Loan Terms: If you are seeking a loan for more than $417,000, lenders in certain locations may be able to provide terms that are different from those shown in the table above. You should confirm your terms with the lender for your requested loan amount.

Taxes and Insurance Excluded from Loan Terms: The loan terms (APR and Payment examples) shown above do not include amounts for taxes or insurance premiums. Your monthly payment amount will be greater if taxes and insurance premiums are included.

Consumer Satisfaction: If you have used Bankrate.com and have not received the advertised loan terms or otherwise been dissatisfied with your experience with any Advertiser, we want to hear from you. Please click here to provide your comments to Bankrate Quality Control.

Mortgage Calculator Help

Using an online mortgage calculator can help you quickly and accurately predict your monthly mortgage payment with just a few pieces of information. It can also show you the total amount of interest you’ll pay over the life of your mortgage. To use this calculator, you’ll need the following information:

The dollar amount you expect to pay for a home.

The down payment is money you give to the home’s seller. At least 20% down typically lets you avoid mortgage insurance.

If you’re getting a mortgage to buy a new home, you can find this number by subtracting your down payment from the home’s price. If you’re refinancing, this number will be the outstanding balance on your mortgage.

Mortgage Term (Years)

This is the length of the mortgage you’re considering. For example, if you’re buying new, you may choose a mortgage loan that lasts 30 years. On the other hand, a homeowner who is refinancing may opt of a loan that lasts 15 years.

Estimate the interest rate on a new mortgage by checking Bankrate’s mortgage rate tables for your area. Once you have a projected rate (your real-life rate may be different depending on your overall credit picture) you can plug it into the calculator.

Mortgage Start Date

Select the month, day and year when your mortgage payments will start.

Mortgage Calculator: Alternative Use

Most people use a mortgage calculator to estimate the payment on a new mortgage, but it can be used for other purposes, too. Here are some other uses:

1. Planning to pay off your mortgage early.

Use the “Extra payments” functionality of Bankrate’s mortgage calculator to find out how you can shorten your term and net big savings by paying extra money toward your loan’s principal each month, every year or even just one time.

To calculate the savings, click “Show Amortization Schedule” and enter a hypothetical amount into one of the payment categories (monthly, yearly or one-time) and then click “Apply Extra Payments” to see how much interest you’ll end up paying and your new payoff date.

2. Decide if an ARM is worth the risk.

The lower initial interest rate of an adjustable-rate mortgage, or ARM, can be tempting. But while an ARM may be appropriate for some borrowers, others may find that the lower initial interest rate won’t cut their monthly payments as much as they think.

To get an idea of how much you’ll really save initially, try entering the ARM interest rate into the mortgage calculator, leaving the term as 30 years. Then, compare those payments to the payments you get when you enter the rate for a conventional 30-year fixed mortgage. Doing so may confirm your initial hopes about the benefits of an ARM — or give you a reality check about whether the potential plusses of an ARM really outweigh the risks.

3. Find out when to get rid of private mortgage insurance.

You can use the mortgage calculator to determine when you’ll have 20 percent equity in your home. This percentage is the magic number for requesting that a lender wave private mortgage insurance requirement.

Simply enter in the original amount of your mortgage and the date you closed, and click “Show Amortization Schedule.” Then, multiply your original mortgage amount by 0.8 and match the result to the closest number on the far-right column of the amortization table to find out when you’ll reach 20 percent equity.


Calculate a RV FInancing Loan or Payment Plan to Find the Right Payment #toothfairy #finance


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Finance Your RV Purchase

Financing gives you the benefit of low monthly payments at competitive interest rates. We deal with most local banks and credit unions, please feel free to contact us for more details.

  • Payments lower than most Banks
  • Up to 20 year financing available
  • Pay monthly or bi-weekly
  • Competitive interest rates
  • Flexible payment options
  • No prepayment penalties
  • No payments for up to 6 months

Dealer Financing

  • Loans purchased through O Connor Financial Services are open agreements. That means you can make an extra payment, or pay it off at anytime without penalty.
  • The interest rates can be fixed or variable. A fixed rate means that the payment will never go up and the term will never change.
  • Our Loans can be tailored to your individual needs with various terms available and flexible down payment policies.
  • And just like home mortgages, we offer life protection as well as illness and injury protection.
  • But the best part of all is the interest rates; O Connor Financial Services offer loans with interest rates that are generally lower than your own financial institution. Our huge volume of RV loans ensures that our rates are lower than your own bank or credit union.

Financial Sources:

Six Top Reasons NOT to use your Line-of-Credit:

  1. Floating interest rate – fluctuates with the prime rate.
  2. The bank has the right to withdraw money from your account to pay your Line-of-Credit.
  3. Secured Lines-of-Credit use your home as collateral. Default of payment for any reason allows the bank to take your home.
  4. The bank may require the total balance of your Line-of-Credit paid in full if you die, become insolvent or bankrupt.
  5. If the bank sees any increase in risk to the security they can demand full payment.
  6. Home insurance costs may be higher due to the additional Line-of-Credit.

Apply for credit online

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