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Instructions |
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Loan Date: | The starting date of the loan.
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Sales Price: | The sales price of the property. Or, if you set the Down Payment to zero, the actual loan amount.
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Interest Rate: | The annual interest rate of the loan.
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Amortization (years): | The number of years over which the interest of the loan is calculated.
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Term (years): | The actual length of the loan. Must be equal to or less than the Amortizaton Years. Setting this to a smaller number of years than the Amortization Years will allow you to calculate a balloon payment type of loan.
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Down Payment: | If you know the actual loan amount you can set this to zero. In that case, the Sales Price will be used as the actual loan amount.
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