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Commercial Loan Payment Calculator

Running A Business 3 min read

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Are you interested in obtaining a commercial mortgage? A commercial loan calculator* can help determine your monthly payments. This is important because purchasing a location for your business is significant and requires a lot of preparation. Calculating your monthly mortgage payments before applying is one way you can ready yourself to take out a commercial loan.

Calculate Your Monthly Commercial Mortgage Payments

Repayment structures are different for commercial mortgages than residential mortgages. Commercial mortgages typically have two components: the amortization and the balloon payment. The amortization or the term of the loan calculates your monthly payment. The balloon payment becomes due after a specified period of time, requiring the borrower to pay that amount in full, refinance, or sell the property.

The commercial mortgage loan experts at First Bank are a great resource and can help you determine a monthly commercial mortgage payment (come by your local branch to speak with one today). You can also use our commercial loan calculator. This tool computes monthly principal and interest payments, and balloon repayments. All you have to do is enter information about your loan and click Calculate Your Results.

What you will need to know:

  • Loan amount – The total loan amount desired.
  • Interest rate – The percentage you pay for the use of an amount of money for a specified period of time. Individual loan interest rates depend on a number of factors such as current typical rates, location, and financial records. Interest rates will be either fixed or adjustable. Fixed rates will not change over the term of the loan, allowing for predictable payments. Adjustable interest rates can adjust either up or down at defined intervals according to a market index, which may increase or decrease your payments accordingly.
  • Term in number of years – The time limit within which the mortgage loan must be repaid. Commercial mortgage loans are offered in a variety of term lengths. Generally the longer the term, the smaller your minimum monthly payments will be.
  • Amortization term in number of years – The number of payments over which your loan payment is calculated. If this is longer than the term, this will result in a balloon payment for the final payment.

Click here to calculate your monthly commercial loan payment.

Once you have calculated how much your monthly commercial loan payments will be, you can make sure you are prepared to take on the financial responsibility of a commercial mortgage.

Getting a Commercial Mortgage

If you are a business in need of a commercial mortgage, or need assistance calculating your monthly commercial loan payment, visit your local First Bank.** We offer competitive pricing on a variety of commercial mortgage products, and our staff of commercial mortgage experts can talk with you about structuring a loan that meets your needs. All First Bank loans are subject to credit approval.

*Determining exact rates and payments can be a complex process. Your exact rates and payment amounts will depend on a number of factors including geographical location and personal financial information. This tool provides you with an estimate of payments based on the information you put in but does not guarantee them. Loans are subject to credit and collateral approval
**Member FDIC.

 

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