Bankrate reports that the new payment after a loan modification may be calculated by applying the new interest rate to the remaining loan balance. Other fees, such as closing costs for a mortgage refinance, may also fact... More »

A loan modification is a permanent change to the terms of a loan, according to the U.S. Department of Housing and Urban Development. A loan modification reinstates a loan and offers a repayment option the borrower can af... More »

A home loan modification letter, sometimes also called a hardship letter, is a request from a borrower to a lender to change the terms of a home loan. Borrowers typically write these letters when they can no longer affor... More »

To calculate your mortgage payment manually, apply the interest rate (r), the principal (B) and the loan length in months (m) to this formula: P = B[(r/12)(1 + r/12)^m)]/[(1 + r/12)^m - 1]. This formula takes into accoun... More »

Mortgage calculators use loan amount, interest rate and number of monthly payments to compute the amount of a monthly mortgage payment, according to Interactive Mathematics. Many websites offer interactive mortgage calcu... More »

To calculate a commercial loan amortization schedule, draw a four-column table, and label them payment amount, interest paid, principal paid and remaining loan balance, notes the Houston Chronicle. Calculate and insert t... More »

The annual percentage rate on an approved auto loan from Bank of America varies depending on several factors such as the borrower's credit history and approved loan amount, so there is no publicly known average interest ... More »