When searching for a real estate loan, it’s important to ensure you get the best deal, especially since these loans are often the largest compared to other funding types and therefore could have the highest monthly payments.
Before applying for a real estate loan, utilize the Lendzero Real Estate loan calculator to see your monthly payments.
Insert the information below:
Use our Real Estate loan calculator to calculate the expenses of numerous types of real estate loans. For example, you can use our calculator as a:
For example, Tom’s Bakery wants a $1M loan to purchase a commercial real estate property priced at $1.25M. Real estate lenders will almost always require you to provide a down payment. In this case, Tom wants to put down 20% of the purchase price and have the lender cover the remaining $1M.
Tom applies for a real estate loan and receives approval for the $1M loan amount at an interest rate of 5% over 30 years.
By entering Tom’s $1M loan amount, 5% interest rate and 30-year repayment term into the Real Estate loan calculator, we can see Tom would need to pay $5,368/month for 30 years.
The Real Estate loan calculator will show you the exact amount you’ll need to repay each month in both interest and principal.
To be clear, definitions are below.
Keep in mind your lender could charge an origination fee upfront.
Lenders have different types of fees and there are many factors they consider when it comes to determining the size of their fee for each loan.
For example, some may require a fee be paid based on the length of the repayment term. Other capital providers might charge one flat fee based on the interest rate. Finally, some might charge a fee based on a percent of the total loan amount.
In addition, if you default or miss a payment, there will be may be additional fees.
