Loan Calculator for Buying Land Land Loan Calculator

Loan Calculator for Buying Land Land Loan Calculator. I Can't Afford A 15 Year Mortgage!

Loan Calculator for Buying Land Land Loan Calculator video duration 5 Minute(s) 9 Second(s), published by IQ Calculators on 06 04 2017 - 00:53:46.

This Land Loan Calculator is for those that are seeking to purchase a piece of land with financing
To use this Land Loan Calculator visit the link below: This is a requested video as a follow up to my first video titled, “How to pay off your 30 year mortgage in 5-7 years”
After that video I have received a lot of .

The number of years over which you will repay this loan
The most common mortgage terms are 15 years and 30 years
Monthly payment including principle . Millions of Americans are in mortgages they can't afford
Dave Ramsey always recommends a 15-year fixed rate mortgage
To get a loan or refinance, use his .

This Land Loan Calculator is for those that are seeking to purchase a piece of land with financing.

To use this Land Loan Calculator visit the link below:
https://iqcalculators.com/calculator/land-loan/

Read the Terms and Conditions before using.

Are you looking to calculate the payment on your potential land loan? Are you in need of land financing but want to understand it better before you apply for a loan? Using this land loan calculator is a great place to get started.

This video is going to give a brief overview on how to use this land loan calculator when you are thinking of financing your next land purchase.

Let’s jump right inthe first thing you’ll want to know is your land loan amount or at least have an estimate. Enter that amount here.

Next, you’ll want to know the length of your land loan. If you don’t know or aren’t sure.a 30 year land mortgage is a great place to start. The longer your mortgage or loan, the lower your monthly loan repayment will be.

Next, enter your interest rate. If you aren’t sure what interest rates are, then be sure to Google it and you’ll likely find land loan providers that are willing to share their current interest rates with you.

Then we come to the monthly payment field. Although you can enter your monthly payment to be higher or lower than what is calculated in this field, the important thing to know is that this field will automatically calculate your monthly payment. There’s no need to enter information here if you don’t want to.

Those are the first 4 fields in this land loan calculator and if you don’t fill out any more information, most of the information in the table below will be populated.

There are two columns in the table that won’t have informationthose are the extra annual payment and land value columns.

The extra annual payment column fills in with information if you enter an extra monthly payment in this field here. What this allows you to do is to see what your land loan would look like if you chose to pay it off early with extra monthly payments.

In a little bit, we’ll discuss how you can use this field with the charts provided below to get a better visual of the impact extra monthly payments can make.

But first, to have information populate in the land value column, you’ll need to enter information in the purchase price field and the annual appreciation rate field. These will work together to show you how your land could potentially appreciate over time. You’ll need to do your own research to find a best estimate on land appreciation rates in your area.

The last field is the years left to pay field. This is for those people who are in the middle of an existing land loan. Let’s say for example that you started off with a 30 year land loan and now you are in year 15. You would enter 15 in the “years left to pay” field while keeping the “Loan term years” field at your original mortgage length of 30 years.

Next, you’ll notice there are large numbers in the middle of the screen. These are the big results numbers that are the most important. If you don’t like to get into the weeds, then these numbers give you the 30,000 foot overview you want.

They are somewhat self explanatory. The first is the total payments you’ll make during the life of the loan. The next two split up total payments into total principal and total interest. And the last one gives you the ending value of your land at the end of your land loan.

If you want more detail, then you’ll want to check out the data table. It splits out your payments annually and also shows how your balance decreases from year to year.

However, if you want to get a visualization of your loan, then use the button right above the table to toggle to the 3 different charts provided. There’s the principal and interest chart, the loan balance chart, and the land value chart.

Each of these charts tell a different story but the best part of using these charts is that they update in real time as you change data in the data fields.

Watch as I observe the loan balance chart change as I add a dollar amount to the extra monthly payment field. Notice how the loan balance is paid off much faster than if I had not made an extra monthly payment.

The same thing can be done with the other charts provided in this land loan calculator. Just use the buttons to toggle to the other charts.

Well folks, that is all we have for this video. We hope you found this video from IQ Calculators useful and we hope this calculator can help you in your land investing endeavors. If you found it useful, please like this video.

Please remember to read the terms and conditions and privacy policy before using this land loan calculator.

Thank you from IQ Calculators.