Mortgage Calculator for Seller Finance HELP

[Bas DeVries]

Hi all!

Im trying to figure out the financial side of a seller finance deal and need some help.

Basically what im trying to figure is a way to make a balloon calculator in excel based of the following criteria
I want the payment to be $500 a month, 3% rate, 175,000 purchase price, 5 year balloon. How do I calculate what the balloon payment will be after 5 years and how do I create a amortization schedule?

Any help is much appreciated it!!

[Caleb Teachout]

@Bas DeVries I made a spreadsheet for you.

Based on your criteria it looks like what you have is a 175k loan amortized over 832 months (69.333 years) at 3%. That results in a $500.00 monthly payment and a 5 year balloon amount of $170,959.58.

Link to spreadsheet below if you want to look at how this stuff is calculated. Should answer all your questions in this post, and I'll be happy to try to answer any other questions about it.

It can also serve as a calculator for any other amortizations.

https://drive.google.com/file/d/1FFUF3412NmU7iK6gAcGYVJ4Poy6yhzvY/view?usp=drivesdk

Please take this with a grain of salt, I'm not a qualified expert, just a dude with excel. Best of luck!