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Summary: When calculating a loan payment, find out the loan amount, the interest rate and how many months are going to be spent paying off the loan. Calculate loan payments by using online loan calculators with tips from a financial consultant in this free video on personal finance and loans.
Carrie Kukuda has a business administration degree, and was branch manager of a community bank. Kukuda owns a consulting business for one-on-one credit education & budget/debt...read more
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"Applying for a loan and asking yourself, "what is my loan payment". Hi, I'm Carrie Kukuda, the Someday Coach. I'm going to tell you a little bit of how to calculate a loan payment. You need to gather up some information first. You need to know what your loan amount is going to be, what interest rate it's going to be at, and how many number of months that you're going to owe on that loan. With that information, you can go to your search engines which there are several that you can search for loan calculators, and they will take that, you will take that gathered information which was your interest rate and interest rate, the number of months that you're going to be owing on the loan, as well as the loan amount. And you plug those numbers in, and it'll be able to calculate that for you. If you're not comfortable about doing it online, you can look at talking to your mortgage consultant or a loan originator and they can calculate those numbers as well for you. It's a little complicated of a formula, calculator's the best route to go. If you need any more tips, consult them or search the engines. Again, I'm Carrie. Thank you very much."
eHow Article: How to Calculate a Loan Payment
Meet Mark P Cussen, CFP, CMFC eHow's Personal Finance Expert.
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