This chart helps you calculate your monthly principal and interest payments for 30 year loans. Find the factor for the appropriate interest rate. This is the monthly amount needed for $1,000. To calculate your principal and interest payment, multiply the interest rate factor by the total loan amount in thousands.
Factors Per $1000 For 30 Year Loans |
Interest Rate |
Factor |
5% |
5.37 |
5¼% |
5.52 |
5½% |
5.68 |
5¾% |
5.84 |
6% |
6.00 |
6¼% |
6.16 |
6½% |
6.32 |
6¾% |
6.49 |
7% |
6.65 |
7¼% |
6.82 |
7½% |
6.99 |
7¾% |
7.16 |
8% |
7.34 |
8¼% |
7.51 |
8½% |
7.69 |
8¾% |
7.87 |
9% |
8.05 |
9¼% |
8.23 |
9½% |
8.41 |
9¾% |
8.59 |
10% |
8.78 |
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For example, an $80,000 loan at 7½% interest would require monthly payments of $559.20 (the interest rate factor for 7½% which is 6.99 times 80 which is the loan amount divided by 1000). |
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