Loan Calculator

The terms and affiliated costs that any given lender may offer your church will directly impact your monthly mortgage payment. The Church Finance Ministry of the North American Mission Board believes that it is wise to first determine how much your church can safely afford to pay each month, and then use that information as a guide to help you compare loan offers from various lenders. This approach will help you discern between multiple loan offers by keeping you focused on the true monthly cost.

See 'How Much Should Our Church Borrow?' for our thoughts on how you may safely plan for your church's financing needs.

To aid you in determining how any given lenders terms and conditions will impact your church budget we offer for your use the following mortgage calculator. Please note this is a planning tool, and its accuracy should be verified with your lender of choice. Contact your CFM consultant for additional information.

Loan Calculator 
If you know any 3 of a loan's 4 terms (principal, interest rate, payments remaining, and payment amount), this calculator will help you to find the missing term. For example, if you know the interest rate, the payments remaining, and the payment amount, this calculator will compute the current payoff amount of the loan. All results should be interpreted as close approximations (testing to date has shown results to be accurate within .002% of the actual).

Enter the 3 known loan terms in the appropriate entry fields and click on "Compute." One empty field is required for recalculations.

No. of Payments 

Interest Rate 

Loan Amount 

Monthly Payment 

 

 

 

 

 

 

 

It is important to recognize that Adjustable Rate Mortgages (ARM) and Balloon Notes may cause the effective rate of interest to be higher or lower than this scenario demonstrates.