Amortization Sheet
How much will your loan cost? Fill in the form below to find out.
Note: FNFA long-term financing is typically at a fixed rate for the first 10 years. If you are considering the option of locking-in your rate for the whole term of the financing request, please contact Steve Berna for the current rate and next steps.
- Your loan interest rate never changes.
- No budget surprises.
- By not fixing your loan interest rate for the full term, your community can choose to repay ALL or SOME of the balance outstanding when the loan comes up for re-financing.
- At re-financing, your loan interest rate will change (up or down).
The FNFA expects the next debenture to be in the Winter 2024/2025. Is the financing required before this date?
Yes NoDo you want FNFA to lock-in the interest rate for just the first 10-years (i.e. tied to FNFA’s debenture rate)?
Yes NoLock-in Interest Rate
Yes: you want the interest rate fixed only for years 1 through 10, and refinanced thereafter
No: you want FNFA to “fix” your interest rate for the full term of your loan (rate will be higher than “yes” option).
Loan Amount:
Loan Term: Years
Forecasted Loan Interet Rate (first 10 years): %
Forecasted Loan Interest Rate (years 11-): %
Earned Interest Rate: %
Yearly Loan Payments:
Monthly Loan Payments:
Total Principal Paid:
Total Interest Paid:
Loan Amount:
Loan Term: Years
Forecasted Loan Interest Rate: %
Earned Interest Rate: %
Yearly Loan Payments:
Monthly Loan Payments:
Total Principal Paid:
Total Interest Paid:
| Term | Payment | Interest Earned | Loan Balance | ||
| Principal | Interest | Total | |||
This schedule of payments is calculated on the estimated upcoming long-term financing rate, which is subject to change with market conditions until the rate is locked-in. The above amortization schedule shows an interest rate locked-in for years 10 through 10. At the end of the year 10 the borrowing member has the choice of refinancing all, or some, of the outstanding principal at interest rates in effect at that time.
*FNFA borrowers repay principal and interest; however FNFA only pays bondholders interest and invest the principal payment into a sinking fund until bond maturity; earnings from interest on the accumulated principal repayments are indicated in this column. The loan is repaid through principal repayments and this interest earned.