Unlike our general loan or simple loan calculators, this calculator will allow you to have more than one unknown value in certain cases.
To indicate an unknown value, enter '0' (zero).
You can enter the price of the real estate, the down payment percent you need, the total number of periods for which you want to borrow the money and the interest rate. When you click on "Calc", the amount of the loan and the monthly payment will be calculated.
If you enter the loan amount and "0" for the down payment percentage, then the down payment percentage (and down payment amount) will be calculated.
If you enter "0" for the price, a down payment percentage, "0" for the amount of loan, the total periods, the interest rate and the payment you can afford, the calculator will calculate the loan amount and the price you can afford to pay. You can use this calculation to tell you what you can afford to pay and borrow and still stay within a budget.
Update 01/18/2013 (BETA): Changed technology used which is both faster and more reliable (fixed "Can't calculate result" problem that some people experienced). Added ability to simultaneously calculate total price and loan amount. Please let us know of any problems — contact us
The name of this calculator is a bit of a misnomer. You may use this calculator to calculate a loan for any asset which requires a percentage of the asset's price as the down payment amount. It will calculate any loan variable including down payment amount, the price of the asset or the loan amount in addition to payment, term or rate.
Click on the "Help" button for more details.
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Time Value of Money