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7 Year Balloon Loan Amortization
January 2, 2000
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   Tom Jones     Financial Inputs  
Address   1234 Number Street     Loan Amount $275,000
City, State, Zip   Jacksonville, Fl 32256     Interest Rate 4.000%
Telephone   508-555-9909     Period (in years) 30
             
          Loan Summary Information  
Loan Date   1/2/00 23:18     Monthly Payment $1,312.89
Loan Number   15888     Total Interest $71,946.48
Miscellaneous   Single Family     Total Payments $110,282.93
Appraised Value   $1,500,000     Balloon Payment $236,663.54
             
             
             
Amortization Schedule of 7 Year Balloon Loan
  Beginning Total   Total Total Ending
  Mortgage Monthly   Interest Principal Mortgage
Year Balance Payment   Portion Portion Balance
1 $275,000.00 $15,754.70   $10,911.85 $4,842.85 $270,157.15
2 $270,157.15 $15,754.70   $10,714.55 $5,040.16 $265,116.99
3 $265,116.99 $15,754.70   $10,509.21 $5,245.50 $259,871.50
4 $259,871.50 $15,754.70   $10,295.50 $5,459.21 $254,412.29
5 $254,412.29 $15,754.70   $10,073.08 $5,681.63 $248,730.66
6 $248,730.66 $15,754.70   $9,841.60 $5,913.10 $242,817.56
7 $242,817.56 $15,754.70   $9,600.69 $6,154.01 $236,663.54

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