Average Loan Interest Rate Calculator

Lenders charge interest on a mortgage as a cost of lending you money. Your mortgage interest rate determines the amount of interest you pay, along with the principal, or loan balance, for the term.

The interest rate on a federal consolidation loan is based on the weighted average of the interest rates on the federal student loans that are combined into the consolidation loan. The weighted average combines the interest rates into a single interest rate that yields a combined cost that is about the same as the cost of the original separate loans.

Mortgage. Bankrate’s mortgage calculator gives you a monthly payment estimate after you input the home price, your down payment, the interest rate and length of the loan term. Use the calculator.

To find the current average used car loan interest rates for each credit tier, we looked at rates from our partner myAutoLoan for consumers with various credit scores across multiple metropolitan areas where myAutoLoan has data. We assumed a loan amount of $16,000, which is the average price of a used car, minus a 20 percent down payment.

Personal loan interest rates generally range from about 5 percent to 36 percent. The actual rate you receive depends on multiple factors, such as your credit score, annual income, and debt ratios.

Commercial Land Contract A land contract may make the property easier to sell. Since the seller is the qualifying agent and controls the stipulations of the contract, the seller may set their own requirements for the credit worthiness of the buyer, the amount of the down payment or any other item that might typically be dictated by a bank or some other 3rd party.Mortgage For Apartment Building Apartment building loan. apartment building lending and commercial property loans continues to be a major source of our commercial mortgage lending activities. A strong rental market and low vacancies allow us to be very aggressively priced on apartment building loans.

Higher Interest Rates – Again, due to the high risk nature of land loans you should expect to receive a higher than average interest rate from your lender. shorter loan Terms – Land loans typically have shorter, and more restrictive, repayment terms. You may be able to extend the loan terms if you qualify for a construction-to-permanent loan.

Weighted Average Formula. To figure the weighted average interest rate, multiply the balance of each loan by the interest rate. Next, add the results together to find the total per weight loan factor. Third, divide the result by the total of all the loans. For example, say you owe $3,000 at 5 percent, $5,000 at 4 percent and $2,000 at 7 percent.

Free calculator to find the interest rate as well as the total interest cost of an amortized loan with fixed monthly payback amount. Also learn more about interest cost, experiment with other interest and loan calculators, or explore many more calculators on topics such as finance, math, fitness, and health.