Hey, hope someone can help me, I would like a recommendation for a loan calculator with a balloon ...
Original publication date on the United States Real Estate Forum on Facebook:
2018-12-31T13:12:22+0000
Hey, hope someone can help me,
I want a recommendation for a calculator for a loan with a balloon without amortization.
Anyone have a recommendation?
I want to send the owner an offer to purchase her house under the following conditions:
$ 80K loan, annual interest 6% without amortization, monthly payment $ 500 for 5 years and then balloon.
I'm not sure how to calculate it. I'd love if anyone could help ... Thanks in advance
Link to the original post in the United States Real Estate Forum on Facebook - working on a desktop computer
https://www.facebook.com/1885945295012997/posts/2204996093107914
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What were her conditions?
If it dictates the price and conditions then it is not appropriate for me. If my company does not sell the property for another 3-4 months then I have no doubt that it will see more flexibility if it is interested in selling and seems to be interested in selling.
Your offer should be a seductive creator the seller can to the audience owner finance around 11 % interest rate why will she go with 6% she needs to be desperate try to be creative and put yourself in the seller shoes in order to make a real attractive offer
Thank you very much, it is no longer relevant. I spoke with the saleswoman and she seemed not sufficiently motivated
Not so clear from what you recorded the way the loan was removed. A loan without amirtization means that you are not repaying a fund and then there are 2 options:
Balloon: That is, the interest rates accrue to the fund and the accrual of interest over time.
Another option Grace: that is to pay only interest on a regular basis.
What are the components of the payment of $ 500 principal / interest?
As far as I understand, there was a problem with the definition of the loan. This is not a balloon loan, but an ordinary loan that after five years will be fully repaid means that after five years the balance of the loan will be 73K
And you owe 107 after 5 years…
That is an interest increase of NIS 27,058…
If you decide to offset the 30 you paid over time then you will deduct it and you will get 77,058…
If it is without a reduction then this is a balloon..and all your payment is in this rental
80 in interest and% for five years is 107,058…
Is this 500 rental?
Do you mean to pay only interest of 6 percent each month and after 5 years repay all the 80?