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Mortgage calculation help

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rockypointjim Joined: 01 Jul 2011 Posts: 1 1.30 Dollars($)	Posted: Fri Jul 01, 2011 6:18 pm    Post subject: Mortgage calculation help Like 0 Dislike 0 I need to calculate a difficult mortgage situation and would appreciate some help. The loan amount is $145,000 and monthly payments are $1,600. In 6 months there will be an additional principle payment of $25,000. The interest rate is 6% interest only with a balloon payment in 5 years. Can someone show me how to run an amortization schedule and figure the balloon payment amount due in 5 years? Thanks in advance.
adonis Joined: 22 Oct 2005 Posts: 10574 Location: ALASKA 1090.82 Dollars($)	Posted: Fri Jul 01, 2011 8:07 pm    Post subject: Like 0 Dislike 0 Hi rockypointjim, Your can check out the given calculator in order to get an amortization schedule: http://www.mortgagefit.com/calculators/arm.html _________________ Procrastination is the enemy of your financial success

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