Payment Calculator: Step-by-Step Guide

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The Payment Calculator provides a simple way to calculate a loan's monthly principal and interest (P&I) payment. Follow the steps below to learn how to use the calculator:

1. Enter a Loan Amount.

2. Enter the loan's Term, in years.

3. Enter the loan's annual interest Rate.

4. Select the Loan Type from the dropdown menu. Available options are Fixed, ARM, and Buydowns.

5. Click View Schedule to generate a monthly and yearly payment schedule. The monthly and yearly payments will be calculated and an amortization schedule will be created. The schedules break down your client’s total payment, remaining balance and how much is being paid towards principal and interest.



You can toggle between Yearly and Monthly schedules by clicking on their respective buttons in the top right-hand corner of the page.


You can also roll up a year of monthly payment schedules by clicking on the down arrow.



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