7 Year Balloon Loan Amortization
August 12, 2008
This worksheet calculates monthly loan payments and prepares an amortization schedule for a 7 year balloon loan. A balloon loan requires a large final payment at some future date. Name Address City, State, Zip Telephone Tom Jones 1234 Number Street Jacksonville, Fl 32256 508-555-9909 Financial Inputs Loan Amount Interest Rate Period (in years)
$275,000 4.000% 30
Loan Date Loan Number Miscellaneous Appraised Value
8/12/2008 10:25 15888 Single Family $1,500,000
Loan Summary Information Monthly Payment $1,312.89 Total Interest $71,946.48 Total Payments $110,282.93 Balloon Payment $236,663.54
Amortization Schedule of 7 Year Balloon Loan
Beginning Mortgage Year Balance Total Monthly Payment Total Interest Portion Total Principal Portion Ending Mortgage Balance
1 2 3 4 5 6 7
$275,000.00 $270,157.15 $265,116.99 $259,871.50 $254,412.29 $248,730.66 $242,817.56
$15,754.70 $15,754.70 $15,754.70 $15,754.70 $15,754.70 $15,754.70 $15,754.70
$10,911.85 $10,714.55 $10,509.21 $10,295.50 $10,073.08 $9,841.60 $9,600.69
$4,842.85 $5,040.16 $5,245.50 $5,459.21 $5,681.63 $5,913.10 $6,154.01
$270,157.15 $265,116.99 $259,871.50 $254,412.29 $248,730.66 $242,817.56 $236,663.54
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