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Commercial Loan Payment Calculator
Ready to talk to an expert?
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 this calculator from 360-Degrees Financial Literacy. This tool computes principal and interest payments, interest-only payments, and balloon repayments. It also provides a monthly amortization schedule for your loan. All you have to do is enter information about your loan and click Compute.
What you will need to know:
- Loan amount
- Annual interest rate
- Amortization term in number of years
- Loan due term in number of months
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 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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Sources
https://www.360financialliteracy.org/Calculators/Commercial-Loan-Calculator
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