Calculating Monthly Payment on Seller Financed Deal

[Brandon Sturgill]

I have an executed contract with a purchase money mortgage. The terms are:

$35,000 Purchase Price

10% Down

8% Interest

30-yr Amortization

48 Month Balloon

The seller needs a minimum monthly of $350. What's the best way to structure this? 

[Thomas S.]

Go on line, search "mortgage calculator" and play with the numbers.

Your looking at approximately ..........   32K, 8%, 12 year amortisation if paying $350/month