Calculating Payments
The calculator is pre-filled in for a $100,000 loan for 5 years at 6.00% to be disbursed two months from today with the first payment due on March 15. Change one or more values to test your desired loan.
An accurate loan estimate will require 4 pieces of information:
1: The amount of money you wish to borrow (no commas).
2: The number of years you wish to take the loan out for (number of annual payments you wish to make).
3: The interest rate based on your desired loan term (see the current
Interest rate page for available rates and terms - enter 6.00 for a loan rate of 6.00%).
4: The date when you would like the loan disbursed (this will default to 2 months from today - average time to fund a loan). Click on the calendar icon next to the date to use the date picker.
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Important Notes
Loans disbursed between August 31 and March 14 will not have a loan payment due the following year. This calculator provides estimated payments - your actual payment will set during the loan approval process. Your final loan payment may vary by up to 20 cents. Payments due on Saturday and Sunday are due the following business day.
Contact the BCPL Loan Officer for more information - Richard Sneider at (608) 261-8001 (office), (608) 572-1611 (cell) or richard.sneider@wi.gov. |
BCPL Loan Amortization Calculator
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