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Updated almost 8 years ago on . Most recent reply

Brandon Sturgill's profile image
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Brandon Sturgill
  • Real Estate Broker
  • from Columbus, OH
  • Member since Apr 30, 2013
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Brandon Sturgill
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Brandon Sturgill
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  • Columbus, OH
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Creative Real Estate Financing

Calculating Monthly Payment on Seller Financed Deal

Brandon Sturgill
  • Real Estate Broker
  • Columbus, OH
Posted

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? 

  • Brandon Sturgill
  • 614-379-2017
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Thomas S.#2 General Landlording & Rental Properties Contributor
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Go on line, search "mortgage calculator" and play with the numbers.

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

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