# Bridge Loan Mortgage Calculator

Intermediate Loan Mortgage Calculator

Bridge Credit Calculator - Top 10 Finances You can use our bridge loan calculator to calculate the amount of your bridge loan per month and also the interest calculated over the life of your loan, plus any likely future payment. Even though a bridge loan is regarded as short-term financing, most bridge credits are taken out for a 12-month horizon, leaving a lot of room for the sale or refinancing of your current real estate.

Since there are no more charges to take a 12 month loan, there is no benefit to go for a 3 or 6 month term. If you use our bridge loan calculator, as you can see, the charges are the same for 6 or 12 month. In addition, the interest on the loan is also equal, regardless of the term, as we always recommend that you take the longer amount of your loan, which gives you enough free rein to get the loan back.

Real estate selling can be unforeseeable and situation you think will last a few week can go from easy to a few month, and before you know it, you will be asked to pay the loan, the other thing is if you need to renew the loan, a creditor will charge a different service charge, so if you went for 6 month and then need to renew to 12 month, it would charge you twice the service charge.

Interests are usually accrued, which means that you do not need to make payments each month, they are taken on the basis of the repayment period of the loan. As soon as you repay the loan, a computation will be made on the basis of the number of pending business day of the loan, this is referred to as the day interest fee, this is the interest fee you will charge.

A £100,000 bridging loan with an interest of 6% would be £6,000 if the whole loan were 12 month overdue, 6,000 pounds split by 365 day gives a day to day interest of £16. 44 Therefore, if your loan was 100 day overdue and then paid back, the overall interest that can be charged to you would be 100 day x £16. 44, which means an overall interest of £1,644.00.

Additionally to the interest you have to charge a handling charge, which usually amounts to 1-2 per cent of the loan amount arranged, as already stated, the handling charge is not related to the loan duration, it doesn't matter whether the loan is for 3,6 or 12 month, the handling charge you paid will be exactly the same, so there is no advantage in taking out the loan for a shorter duration, as above said, you will always only ever be charged interest on the entire loan due.

It is also necessary to consider the lawyer's fees for the lender's lawyers and also for your own, these are usually calculated on the loan amount and can be arranged before a lawyer has been engaged to do a job. Bridge loan conditions can be anything from 1-18 month, although most creditors begin with a 12 month maturity and then try to renew it if needed.

Bridging loan calculators can work out your redemption conditions for each payment term, so you can find out how high your overall cost will be in a certain number of month and also at different interest levels. Just type in the amount you want to lend and the interest and we will tell you what your interest will be and what the overall amount will be for the duration of the loan.

Notice Interest repayments are scrolled up so that you do not have to make a month' payout, but are withdrawn from the loan amount. Interest is paid only on the day the loan is overdue. Exclusion of liability, which you should always clarify with the creditor to ensure that your interest rate is accurate, these Calculators are for orientation only.

Entering the maturity in month is required, and the display shows both the amount of the month's payment and the amount to be charged as interest over the life of the loan.