Land Contract Calculator
Calculate land contract payments with balloon terms and amortization.
Contract Terms
First Year Payment Schedule
| Month | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $184 | $1,313 | $224,816 |
| 2 | $186 | $1,311 | $224,630 |
| 3 | $187 | $1,310 | $224,443 |
| 4 | $188 | $1,309 | $224,256 |
| 5 | $189 | $1,308 | $224,067 |
| 6 | $190 | $1,307 | $223,877 |
| 7 | $191 | $1,306 | $223,686 |
| 8 | $192 | $1,305 | $223,494 |
| 9 | $193 | $1,304 | $223,301 |
| 10 | $194 | $1,303 | $223,107 |
| 11 | $195 | $1,301 | $222,911 |
| 12 | $197 | $1,300 | $222,714 |
Payment Analysis
Before Balloon (5 years)
Total Payments$89,816
Principal Paid$13,204
Interest Paid$76,612
At Balloon Date
Balloon Balance$211,796
Equity Built$38,204
LTV at Balloon84.7%
Monthly Payment
Total Monthly
$1,872
Principal & Interest$1,497
Property Taxes$250
Insurance$125
Balloon Payment
Due in 5 years
$211,796
You'll need to refinance or pay off this balance by the balloon date. Plan ahead to secure financing.
Equity Position
Down Payment$25,000
Principal Paid$13,204
Total Equity$38,204 (15.3%)
Land Contract Tips:
- • Record the contract with the county
- • Get title insurance
- • Plan refinance strategy early
- • Build credit during contract period