Tools & Calculators

Line of Credit & Loan Payments

November 5, 2020

Shared by Freelandt Caldwell Reilly LLP

This calculator helps determine your loan or line payment. For a loan payment, select fixed-term loan. For a credit line payment, you can choose 2%, 1.5% or 1.0% of the outstanding balance or interest only.

Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from one of our qualified professionals regarding finance issues.

Let’s Talk!

Call us at 1 (855) 363-3526 or fill out the form below and we’ll contact you to discuss your specific situation.

Definitions

Loan amount

Total dollar amount of your loan.

Interest rate

The annual interest rate, often called an annual percentage rate (APR) for this loan or line of credit.

Monthly payment

Monthly principal and interest payment (PI) for this loan or line of credit.

Term in months

Number of months for this loan or line of credit.

Payment options

Select the option that matches your payment type:

• Fixed rate term
Traditional amortization produces a fixed monthly payment. The monthly payment calculated will leave a zero balance at the end of the loan's term.

• 2%, 1.5% or 1% of balance
Your minimum payment is calculated as a percentage of the outstanding principal balance. Your minimum payment will change each month, and if you only make the minimum payment your balance will not be zero at the end of your loan's term.

• 100% of interest owed
For lines paying interest owed, your payment is 100% of the interest accrued during the month but no principal. Your payment may not be fixed if your interest rate or principal balance changes.

Disclaimer:

Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from one of our qualified professionals regarding finance issues.

Important Notice:

FCR will now redirect you to CCH Portal where your FCR Client Portal login is located.

Share This