Loan Payment Examples | ESL Federal Credit Union (2024)

Short-Term Loan

Monthly Payment Example per $500 Borrowed ¹

APR

6-Month Term

APR27.99%

6-Month Term$91.37

1: The above monthly payment example is based on a six-month repayment term and 45 days to first payment.

Consumer Loan

Monthly Payment Examples per $1,000 Borrowed

APR

48-Month Term

60-Month Term

84-Month Term

120-Month Term

APR4.00%

48-Month Term$22.58

60-Month Term$18.42

84-Month Term$13.67

120-Month Term$10.13

APR5.00%

48-Month Term$23.03

60-Month Term$18.87

84-Month Term$14.13

120-Month Term$10.61

APR6.00%

48-Month Term$23.49

60-Month Term$19.33

84-Month Term$14.61

120-Month Term$11.10

APR7.00%

48-Month Term$23.95

60-Month Term$19.80

84-Month Term$15.09

120-Month Term$11.61

APR8.00%

48-Month Term$24.41

60-Month Term$20.28

84-Month Term$15.59

120-Month Term$12.13

APR9.00%

48-Month Term$24.89

60-Month Term$20.76

84-Month Term$16.09

120-Month Term$12.67

APR10.00%

48-Month Term$25.36

60-Month Term$21.25

84-Month Term$16.60

120-Month Term$13.22

Home Equity Loan

Monthly Payment Examples per $1,000 Borrowed

APR

48-Month Term

60-Month Term

84-Month Term

120-Month Term

180-Month Term

240-Month Term

APR5.00%

48-Month Term$23.03

60-Month Term$18.87

84-Month Term$14.13

120-Month Term$10.61

180-Month Term$7.91

240-Month Term$6.60

APR5.50%

Mortgage

Monthly Payment Examples per $1,000 Borrowed

Interest Rate

180-Month Term

240-Month Term

360-Month Term

Interest Rate3.00%

180-Month Term$6.91

240-Month Term$5.55

360-Month Term$4.22

Interest Rate3.25%

180-Month Term$7.03

240-Month Term$5.67

360-Month Term$4.35

Interest Rate3.50%

180-Month Term$7.15

240-Month Term$5.80

360-Month Term$4.49

Interest Rate3.75%

180-Month Term$7.27

240-Month Term$5.93

360-Month Term$4.63

Interest Rate4.00%

180-Month Term$7.40

240-Month Term$6.06

360-Month Term$4.77

Interest Rate4.25%

180-Month Term$7.52

240-Month Term$6.19

360-Month Term$4.92

Interest Rate4.50%

180-Month Term$7.65

240-Month Term$6.33

360-Month Term$5.07

Interest Rate4.75%

180-Month Term$7.78

240-Month Term$6.46

360-Month Term$5.22

Interest Rate5.00%

180-Month Term$7.91

240-Month Term$6.60

360-Month Term$5.37

Interest Rate5.25%

180-Month Term$8.04

240-Month Term$6.74

360-Month Term$5.52

Interest Rate5.50%

180-Month Term$8.17

240-Month Term$6.88

360-Month Term$5.68

Interest Rate5.75%

180-Month Term$8.30

240-Month Term$7.02

360-Month Term$5.84

Interest Rate6.00%

180-Month Term$8.44

240-Month Term$7.16

360-Month Term$6.00

The above monthly payment examples do not include property taxes or insurance premiums and the actual payment obligation will be greater.

How to Use the Mortgage Chart

The chart reflects interest rates ranging from 3.00% up to 6.00% for 15-, 20- and 30-year terms. The monthly payment column represents the principal and interest payment for each $1,000 you borrow.

For example, if you borrow $100,000 for 30 years at 4.25%, your monthly payment per $1,000 borrowed would be $4.92. Multiply that factor (4.92) by 100 (100,000/1,000) to estimate your monthly payment of $492.00.

This monthly payment example does not include property taxes or insurance premiums, and the actual payment obligation will be greater.

Estimate Your Payment Amount Online

Check our current mortgage rates then use our mortgage calculatorto estimate your payment at varying terms and loan amounts. It's the fastest, easiest way to get the information you need.

For current rates by phone, call 585.336.1515 or 800.848.2265.