Gold Country
Lenders is happy to provide this informational tool. It
is not a guarantee or quote of current rates, but rather
an excellent method for comparing two loans or for
estimating payments over the life of a conventional
loan. For exact rates, please feel free to contact us.
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How to use this
tool:
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Payments: The number of months in the life of the loan (e.g.,
a 30 year loan is 360 months)
-
Interest: Input an interest rate as a whole number, as shown
below (only fixed rate estimates are available).
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Principal: The amount of money you wish to borrow.
To compare two similar loans, enter the
second loan, too, and compare them side by side.
When
your monthly payment has been calculated, you can choose
to see an amortization schedule for your sample loan. An
amortization schedule is a timetable for payment of a
mortgage loan. It shows the amount of each payment
applied to interest and principal, as well as the
remaining balance after each payment is made.
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