Amortization Schedule


Land Loan Calculator


Land Loan Calculator with amortization schedule to calculate monthly payment for any type of land loan. The land contract amortization calculator will generate a land contract amortization schedule that shows the payment details and summary.

Land Contract Amortization Calculator

Loan Amount
Loan Terms
years
Interest Rate
First Payment Date
Amortization schedule
Show By Month Show By Year

Loan Summary

Loan Amount:
$350,000.00
Monthly Payment:
$1,732.05
Total # Of Payments:
360
Start Date:
Mar, 2023
Payoff Date:
Feb, 2053
Total Interest Paid:
$273,538.02
Total Payment:
$623,538.02


Land Contract Amortization Schedule

Payment Date Payment # Interest Paid Principal Paid Total Payment Remaining Balance
Mar, 2023 1 $1,254.17 $477.88 $1,732.05 $349,522.12
Apr, 2023 2 $1,252.45 $479.60 $1,732.05 $349,042.52
May, 2023 3 $1,250.74 $481.31 $1,732.05 $348,561.21
Jun, 2023 4 $1,249.01 $483.04 $1,732.05 $348,078.17
Jul, 2023 5 $1,247.28 $484.77 $1,732.05 $347,593.40
Aug, 2023 6 $1,245.54 $486.51 $1,732.05 $347,106.89
Sep, 2023 7 $1,243.80 $488.25 $1,732.05 $346,618.64
Oct, 2023 8 $1,242.05 $490.00 $1,732.05 $346,128.64
Nov, 2023 9 $1,240.29 $491.76 $1,732.05 $345,636.88
Dec, 2023 10 $1,238.53 $493.52 $1,732.05 $345,143.37
Jan, 2024 11 $1,236.76 $495.29 $1,732.05 $344,648.08
Feb, 2024 12 $1,234.99 $497.06 $1,732.05 $344,151.02
Mar, 2024 13 $1,233.21 $498.84 $1,732.05 $343,652.18
Apr, 2024 14 $1,231.42 $500.63 $1,732.05 $343,151.55
May, 2024 15 $1,229.63 $502.42 $1,732.05 $342,649.12
Jun, 2024 16 $1,227.83 $504.22 $1,732.05 $342,144.90
Jul, 2024 17 $1,226.02 $506.03 $1,732.05 $341,638.87
Aug, 2024 18 $1,224.21 $507.84 $1,732.05 $341,131.02
Sep, 2024 19 $1,222.39 $509.66 $1,732.05 $340,621.36
Oct, 2024 20 $1,220.56 $511.49 $1,732.05 $340,109.87
Nov, 2024 21 $1,218.73 $513.32 $1,732.05 $339,596.55
Dec, 2024 22 $1,216.89 $515.16 $1,732.05 $339,081.39
Jan, 2025 23 $1,215.04 $517.01 $1,732.05 $338,564.38
Feb, 2025 24 $1,213.19 $518.86 $1,732.05 $338,045.52
Mar, 2025 25 $1,211.33 $520.72 $1,732.05 $337,524.80
Apr, 2025 26 $1,209.46 $522.59 $1,732.05 $337,002.21
May, 2025 27 $1,207.59 $524.46 $1,732.05 $336,477.75
Jun, 2025 28 $1,205.71 $526.34 $1,732.05 $335,951.41
Jul, 2025 29 $1,203.83 $528.22 $1,732.05 $335,423.19
Aug, 2025 30 $1,201.93 $530.12 $1,732.05 $334,893.07
Sep, 2025 31 $1,200.03 $532.02 $1,732.05 $334,361.05
Oct, 2025 32 $1,198.13 $533.92 $1,732.05 $333,827.13
Nov, 2025 33 $1,196.21 $535.84 $1,732.05 $333,291.30
Dec, 2025 34 $1,194.29 $537.76 $1,732.05 $332,753.54
Jan, 2026 35 $1,192.37 $539.68 $1,732.05 $332,213.86
Feb, 2026 36 $1,190.43 $541.62 $1,732.05 $331,672.24
Mar, 2026 37 $1,188.49 $543.56 $1,732.05 $331,128.68
Apr, 2026 38 $1,186.54 $545.51 $1,732.05 $330,583.18
May, 2026 39 $1,184.59 $547.46 $1,732.05 $330,035.72
Jun, 2026 40 $1,182.63 $549.42 $1,732.05 $329,486.29
Jul, 2026 41 $1,180.66 $551.39 $1,732.05 $328,934.90
Aug, 2026 42 $1,178.68 $553.37 $1,732.05 $328,381.54
Sep, 2026 43 $1,176.70 $555.35 $1,732.05 $327,826.19
Oct, 2026 44 $1,174.71 $557.34 $1,732.05 $327,268.85
Nov, 2026 45 $1,172.71 $559.34 $1,732.05 $326,709.51
Dec, 2026 46 $1,170.71 $561.34 $1,732.05 $326,148.17
Jan, 2027 47 $1,168.70 $563.35 $1,732.05 $325,584.82
Feb, 2027 48 $1,166.68 $565.37 $1,732.05 $325,019.45
Mar, 2027 49 $1,164.65 $567.40 $1,732.05 $324,452.05
Apr, 2027 50 $1,162.62 $569.43 $1,732.05 $323,882.62
May, 2027 51 $1,160.58 $571.47 $1,732.05 $323,311.15
Jun, 2027 52 $1,158.53 $573.52 $1,732.05 $322,737.63
Jul, 2027 53 $1,156.48 $575.57 $1,732.05 $322,162.06
Aug, 2027 54 $1,154.41 $577.64 $1,732.05 $321,584.42
Sep, 2027 55 $1,152.34 $579.71 $1,732.05 $321,004.71
Oct, 2027 56 $1,150.27 $581.78 $1,732.05 $320,422.93
Nov, 2027 57 $1,148.18 $583.87 $1,732.05 $319,839.06
Dec, 2027 58 $1,146.09 $585.96 $1,732.05 $319,253.10
Jan, 2028 59 $1,143.99 $588.06 $1,732.05 $318,665.04
Feb, 2028 60 $1,141.88 $590.17 $1,732.05 $318,074.88
Mar, 2028 61 $1,139.77 $592.28 $1,732.05 $317,482.59
Apr, 2028 62 $1,137.65 $594.40 $1,732.05 $316,888.19
May, 2028 63 $1,135.52 $596.53 $1,732.05 $316,291.66
Jun, 2028 64 $1,133.38 $598.67 $1,732.05 $315,692.98
Jul, 2028 65 $1,131.23 $600.82 $1,732.05 $315,092.17
Aug, 2028 66 $1,129.08 $602.97 $1,732.05 $314,489.20
Sep, 2028 67 $1,126.92 $605.13 $1,732.05 $313,884.07
Oct, 2028 68 $1,124.75 $607.30 $1,732.05 $313,276.77
Nov, 2028 69 $1,122.58 $609.47 $1,732.05 $312,667.29
Dec, 2028 70 $1,120.39 $611.66 $1,732.05 $312,055.63
Jan, 2029 71 $1,118.20 $613.85 $1,732.05 $311,441.78
Feb, 2029 72 $1,116.00 $616.05 $1,732.05 $310,825.73
Mar, 2029 73 $1,113.79 $618.26 $1,732.05 $310,207.48
Apr, 2029 74 $1,111.58 $620.47 $1,732.05 $309,587.00
May, 2029 75 $1,109.35 $622.70 $1,732.05 $308,964.31
Jun, 2029 76 $1,107.12 $624.93 $1,732.05 $308,339.38
Jul, 2029 77 $1,104.88 $627.17 $1,732.05 $307,712.21
Aug, 2029 78 $1,102.64 $629.41 $1,732.05 $307,082.80
Sep, 2029 79 $1,100.38 $631.67 $1,732.05 $306,451.13
Oct, 2029 80 $1,098.12 $633.93 $1,732.05 $305,817.19
Nov, 2029 81 $1,095.84 $636.21 $1,732.05 $305,180.99
Dec, 2029 82 $1,093.57 $638.48 $1,732.05 $304,542.50
Jan, 2030 83 $1,091.28 $640.77 $1,732.05 $303,901.73
Feb, 2030 84 $1,088.98 $643.07 $1,732.05 $303,258.66
Mar, 2030 85 $1,086.68 $645.37 $1,732.05 $302,613.29
Apr, 2030 86 $1,084.36 $647.69 $1,732.05 $301,965.60
May, 2030 87 $1,082.04 $650.01 $1,732.05 $301,315.60
Jun, 2030 88 $1,079.71 $652.34 $1,732.05 $300,663.26
Jul, 2030 89 $1,077.38 $654.67 $1,732.05 $300,008.59
Aug, 2030 90 $1,075.03 $657.02 $1,732.05 $299,351.57
Sep, 2030 91 $1,072.68 $659.37 $1,732.05 $298,692.19
Oct, 2030 92 $1,070.31 $661.74 $1,732.05 $298,030.46
Nov, 2030 93 $1,067.94 $664.11 $1,732.05 $297,366.35
Dec, 2030 94 $1,065.56 $666.49 $1,732.05 $296,699.86
Jan, 2031 95 $1,063.17 $668.88 $1,732.05 $296,030.99
Feb, 2031 96 $1,060.78 $671.27 $1,732.05 $295,359.71
Mar, 2031 97 $1,058.37 $673.68 $1,732.05 $294,686.04
Apr, 2031 98 $1,055.96 $676.09 $1,732.05 $294,009.94
May, 2031 99 $1,053.54 $678.51 $1,732.05 $293,331.43
Jun, 2031 100 $1,051.10 $680.95 $1,732.05 $292,650.48
Jul, 2031 101 $1,048.66 $683.39 $1,732.05 $291,967.10
Aug, 2031 102 $1,046.22 $685.83 $1,732.05 $291,281.26
Sep, 2031 103 $1,043.76 $688.29 $1,732.05 $290,592.97
Oct, 2031 104 $1,041.29 $690.76 $1,732.05 $289,902.21
Nov, 2031 105 $1,038.82 $693.23 $1,732.05 $289,208.98
Dec, 2031 106 $1,036.33 $695.72 $1,732.05 $288,513.26
Jan, 2032 107 $1,033.84 $698.21 $1,732.05 $287,815.05
Feb, 2032 108 $1,031.34 $700.71 $1,732.05 $287,114.34
Mar, 2032 109 $1,028.83 $703.22 $1,732.05 $286,411.11
Apr, 2032 110 $1,026.31 $705.74 $1,732.05 $285,705.37
May, 2032 111 $1,023.78 $708.27 $1,732.05 $284,997.10
Jun, 2032 112 $1,021.24 $710.81 $1,732.05 $284,286.29
Jul, 2032 113 $1,018.69 $713.36 $1,732.05 $283,572.93
Aug, 2032 114 $1,016.14 $715.91 $1,732.05 $282,857.02
Sep, 2032 115 $1,013.57 $718.48 $1,732.05 $282,138.54
Oct, 2032 116 $1,011.00 $721.05 $1,732.05 $281,417.48
Nov, 2032 117 $1,008.41 $723.64 $1,732.05 $280,693.85
Dec, 2032 118 $1,005.82 $726.23 $1,732.05 $279,967.62
Jan, 2033 119 $1,003.22 $728.83 $1,732.05 $279,238.78
Feb, 2033 120 $1,000.61 $731.44 $1,732.05 $278,507.34
Mar, 2033 121 $997.98 $734.07 $1,732.05 $277,773.27
Apr, 2033 122 $995.35 $736.70 $1,732.05 $277,036.58
May, 2033 123 $992.71 $739.34 $1,732.05 $276,297.24
Jun, 2033 124 $990.07 $741.98 $1,732.05 $275,555.26
Jul, 2033 125 $987.41 $744.64 $1,732.05 $274,810.61
Aug, 2033 126 $984.74 $747.31 $1,732.05 $274,063.30
Sep, 2033 127 $982.06 $749.99 $1,732.05 $273,313.31
Oct, 2033 128 $979.37 $752.68 $1,732.05 $272,560.63
Nov, 2033 129 $976.68 $755.37 $1,732.05 $271,805.26
Dec, 2033 130 $973.97 $758.08 $1,732.05 $271,047.18
Jan, 2034 131 $971.25 $760.80 $1,732.05 $270,286.38
Feb, 2034 132 $968.53 $763.52 $1,732.05 $269,522.86
Mar, 2034 133 $965.79 $766.26 $1,732.05 $268,756.60
Apr, 2034 134 $963.04 $769.01 $1,732.05 $267,987.59
May, 2034 135 $960.29 $771.76 $1,732.05 $267,215.83
Jun, 2034 136 $957.52 $774.53 $1,732.05 $266,441.30
Jul, 2034 137 $954.75 $777.30 $1,732.05 $265,664.00
Aug, 2034 138 $951.96 $780.09 $1,732.05 $264,883.91
Sep, 2034 139 $949.17 $782.88 $1,732.05 $264,101.03
Oct, 2034 140 $946.36 $785.69 $1,732.05 $263,315.34
Nov, 2034 141 $943.55 $788.50 $1,732.05 $262,526.84
Dec, 2034 142 $940.72 $791.33 $1,732.05 $261,735.51
Jan, 2035 143 $937.89 $794.16 $1,732.05 $260,941.35
Feb, 2035 144 $935.04 $797.01 $1,732.05 $260,144.34
Mar, 2035 145 $932.18 $799.87 $1,732.05 $259,344.47
Apr, 2035 146 $929.32 $802.73 $1,732.05 $258,541.74
May, 2035 147 $926.44 $805.61 $1,732.05 $257,736.13
Jun, 2035 148 $923.55 $808.50 $1,732.05 $256,927.63
Jul, 2035 149 $920.66 $811.39 $1,732.05 $256,116.24
Aug, 2035 150 $917.75 $814.30 $1,732.05 $255,301.94
Sep, 2035 151 $914.83 $817.22 $1,732.05 $254,484.72
Oct, 2035 152 $911.90 $820.15 $1,732.05 $253,664.58
Nov, 2035 153 $908.96 $823.09 $1,732.05 $252,841.49
Dec, 2035 154 $906.02 $826.03 $1,732.05 $252,015.46
Jan, 2036 155 $903.06 $828.99 $1,732.05 $251,186.46
Feb, 2036 156 $900.08 $831.97 $1,732.05 $250,354.50
Mar, 2036 157 $897.10 $834.95 $1,732.05 $249,519.55
Apr, 2036 158 $894.11 $837.94 $1,732.05 $248,681.61
May, 2036 159 $891.11 $840.94 $1,732.05 $247,840.67
Jun, 2036 160 $888.10 $843.95 $1,732.05 $246,996.72
Jul, 2036 161 $885.07 $846.98 $1,732.05 $246,149.74
Aug, 2036 162 $882.04 $850.01 $1,732.05 $245,299.72
Sep, 2036 163 $878.99 $853.06 $1,732.05 $244,446.67
Oct, 2036 164 $875.93 $856.12 $1,732.05 $243,590.55
Nov, 2036 165 $872.87 $859.18 $1,732.05 $242,731.37
Dec, 2036 166 $869.79 $862.26 $1,732.05 $241,869.10
Jan, 2037 167 $866.70 $865.35 $1,732.05 $241,003.75
Feb, 2037 168 $863.60 $868.45 $1,732.05 $240,135.30
Mar, 2037 169 $860.48 $871.57 $1,732.05 $239,263.73
Apr, 2037 170 $857.36 $874.69 $1,732.05 $238,389.04
May, 2037 171 $854.23 $877.82 $1,732.05 $237,511.22
Jun, 2037 172 $851.08 $880.97 $1,732.05 $236,630.25
Jul, 2037 173 $847.93 $884.12 $1,732.05 $235,746.13
Aug, 2037 174 $844.76 $887.29 $1,732.05 $234,858.83
Sep, 2037 175 $841.58 $890.47 $1,732.05 $233,968.36
Oct, 2037 176 $838.39 $893.66 $1,732.05 $233,074.70
Nov, 2037 177 $835.18 $896.87 $1,732.05 $232,177.83
Dec, 2037 178 $831.97 $900.08 $1,732.05 $231,277.75
Jan, 2038 179 $828.75 $903.30 $1,732.05 $230,374.45
Feb, 2038 180 $825.51 $906.54 $1,732.05 $229,467.91
Mar, 2038 181 $822.26 $909.79 $1,732.05 $228,558.12
Apr, 2038 182 $819.00 $913.05 $1,732.05 $227,645.07
May, 2038 183 $815.73 $916.32 $1,732.05 $226,728.74
Jun, 2038 184 $812.44 $919.61 $1,732.05 $225,809.14
Jul, 2038 185 $809.15 $922.90 $1,732.05 $224,886.24
Aug, 2038 186 $805.84 $926.21 $1,732.05 $223,960.03
Sep, 2038 187 $802.52 $929.53 $1,732.05 $223,030.50
Oct, 2038 188 $799.19 $932.86 $1,732.05 $222,097.65
Nov, 2038 189 $795.85 $936.20 $1,732.05 $221,161.45
Dec, 2038 190 $792.50 $939.55 $1,732.05 $220,221.89
Jan, 2039 191 $789.13 $942.92 $1,732.05 $219,278.97
Feb, 2039 192 $785.75 $946.30 $1,732.05 $218,332.67
Mar, 2039 193 $782.36 $949.69 $1,732.05 $217,382.98
Apr, 2039 194 $778.96 $953.09 $1,732.05 $216,429.88
May, 2039 195 $775.54 $956.51 $1,732.05 $215,473.37
Jun, 2039 196 $772.11 $959.94 $1,732.05 $214,513.44
Jul, 2039 197 $768.67 $963.38 $1,732.05 $213,550.06
Aug, 2039 198 $765.22 $966.83 $1,732.05 $212,583.23
Sep, 2039 199 $761.76 $970.29 $1,732.05 $211,612.94
Oct, 2039 200 $758.28 $973.77 $1,732.05 $210,639.17
Nov, 2039 201 $754.79 $977.26 $1,732.05 $209,661.91
Dec, 2039 202 $751.29 $980.76 $1,732.05 $208,681.15
Jan, 2040 203 $747.77 $984.28 $1,732.05 $207,696.87
Feb, 2040 204 $744.25 $987.80 $1,732.05 $206,709.07
Mar, 2040 205 $740.71 $991.34 $1,732.05 $205,717.73
Apr, 2040 206 $737.16 $994.89 $1,732.05 $204,722.83
May, 2040 207 $733.59 $998.46 $1,732.05 $203,724.37
Jun, 2040 208 $730.01 $1,002.04 $1,732.05 $202,722.33
Jul, 2040 209 $726.42 $1,005.63 $1,732.05 $201,716.70
Aug, 2040 210 $722.82 $1,009.23 $1,732.05 $200,707.47
Sep, 2040 211 $719.20 $1,012.85 $1,732.05 $199,694.62
Oct, 2040 212 $715.57 $1,016.48 $1,732.05 $198,678.15
Nov, 2040 213 $711.93 $1,020.12 $1,732.05 $197,658.03
Dec, 2040 214 $708.27 $1,023.78 $1,732.05 $196,634.25
Jan, 2041 215 $704.61 $1,027.44 $1,732.05 $195,606.81
Feb, 2041 216 $700.92 $1,031.13 $1,732.05 $194,575.68
Mar, 2041 217 $697.23 $1,034.82 $1,732.05 $193,540.86
Apr, 2041 218 $693.52 $1,038.53 $1,732.05 $192,502.33
May, 2041 219 $689.80 $1,042.25 $1,732.05 $191,460.08
Jun, 2041 220 $686.07 $1,045.98 $1,732.05 $190,414.10
Jul, 2041 221 $682.32 $1,049.73 $1,732.05 $189,364.36
Aug, 2041 222 $678.56 $1,053.49 $1,732.05 $188,310.87
Sep, 2041 223 $674.78 $1,057.27 $1,732.05 $187,253.60
Oct, 2041 224 $670.99 $1,061.06 $1,732.05 $186,192.54
Nov, 2041 225 $667.19 $1,064.86 $1,732.05 $185,127.68
Dec, 2041 226 $663.37 $1,068.68 $1,732.05 $184,059.01
Jan, 2042 227 $659.54 $1,072.51 $1,732.05 $182,986.50
Feb, 2042 228 $655.70 $1,076.35 $1,732.05 $181,910.15
Mar, 2042 229 $651.84 $1,080.21 $1,732.05 $180,829.95
Apr, 2042 230 $647.97 $1,084.08 $1,732.05 $179,745.87
May, 2042 231 $644.09 $1,087.96 $1,732.05 $178,657.91
Jun, 2042 232 $640.19 $1,091.86 $1,732.05 $177,566.05
Jul, 2042 233 $636.28 $1,095.77 $1,732.05 $176,470.28
Aug, 2042 234 $632.35 $1,099.70 $1,732.05 $175,370.58
Sep, 2042 235 $628.41 $1,103.64 $1,732.05 $174,266.94
Oct, 2042 236 $624.46 $1,107.59 $1,732.05 $173,159.35
Nov, 2042 237 $620.49 $1,111.56 $1,732.05 $172,047.79
Dec, 2042 238 $616.50 $1,115.55 $1,732.05 $170,932.24
Jan, 2043 239 $612.51 $1,119.54 $1,732.05 $169,812.70
Feb, 2043 240 $608.50 $1,123.55 $1,732.05 $168,689.14
Mar, 2043 241 $604.47 $1,127.58 $1,732.05 $167,561.56
Apr, 2043 242 $600.43 $1,131.62 $1,732.05 $166,429.94
May, 2043 243 $596.37 $1,135.68 $1,732.05 $165,294.27
Jun, 2043 244 $592.30 $1,139.75 $1,732.05 $164,154.52
Jul, 2043 245 $588.22 $1,143.83 $1,732.05 $163,010.69
Aug, 2043 246 $584.12 $1,147.93 $1,732.05 $161,862.76
Sep, 2043 247 $580.01 $1,152.04 $1,732.05 $160,710.72
Oct, 2043 248 $575.88 $1,156.17 $1,732.05 $159,554.55
Nov, 2043 249 $571.74 $1,160.31 $1,732.05 $158,394.24
Dec, 2043 250 $567.58 $1,164.47 $1,732.05 $157,229.77
Jan, 2044 251 $563.41 $1,168.64 $1,732.05 $156,061.12
Feb, 2044 252 $559.22 $1,172.83 $1,732.05 $154,888.29
Mar, 2044 253 $555.02 $1,177.03 $1,732.05 $153,711.26
Apr, 2044 254 $550.80 $1,181.25 $1,732.05 $152,530.01
May, 2044 255 $546.57 $1,185.48 $1,732.05 $151,344.52
Jun, 2044 256 $542.32 $1,189.73 $1,732.05 $150,154.79
Jul, 2044 257 $538.05 $1,194.00 $1,732.05 $148,960.80
Aug, 2044 258 $533.78 $1,198.27 $1,732.05 $147,762.52
Sep, 2044 259 $529.48 $1,202.57 $1,732.05 $146,559.95
Oct, 2044 260 $525.17 $1,206.88 $1,732.05 $145,353.08
Nov, 2044 261 $520.85 $1,211.20 $1,732.05 $144,141.88
Dec, 2044 262 $516.51 $1,215.54 $1,732.05 $142,926.33
Jan, 2045 263 $512.15 $1,219.90 $1,732.05 $141,706.44
Feb, 2045 264 $507.78 $1,224.27 $1,732.05 $140,482.17
Mar, 2045 265 $503.39 $1,228.66 $1,732.05 $139,253.51
Apr, 2045 266 $498.99 $1,233.06 $1,732.05 $138,020.46
May, 2045 267 $494.57 $1,237.48 $1,732.05 $136,782.98
Jun, 2045 268 $490.14 $1,241.91 $1,732.05 $135,541.07
Jul, 2045 269 $485.69 $1,246.36 $1,732.05 $134,294.71
Aug, 2045 270 $481.22 $1,250.83 $1,732.05 $133,043.88
Sep, 2045 271 $476.74 $1,255.31 $1,732.05 $131,788.57
Oct, 2045 272 $472.24 $1,259.81 $1,732.05 $130,528.76
Nov, 2045 273 $467.73 $1,264.32 $1,732.05 $129,264.44
Dec, 2045 274 $463.20 $1,268.85 $1,732.05 $127,995.59
Jan, 2046 275 $458.65 $1,273.40 $1,732.05 $126,722.19
Feb, 2046 276 $454.09 $1,277.96 $1,732.05 $125,444.23
Mar, 2046 277 $449.51 $1,282.54 $1,732.05 $124,161.68
Apr, 2046 278 $444.91 $1,287.14 $1,732.05 $122,874.55
May, 2046 279 $440.30 $1,291.75 $1,732.05 $121,582.80
Jun, 2046 280 $435.67 $1,296.38 $1,732.05 $120,286.42
Jul, 2046 281 $431.03 $1,301.02 $1,732.05 $118,985.40
Aug, 2046 282 $426.36 $1,305.69 $1,732.05 $117,679.71
Sep, 2046 283 $421.69 $1,310.36 $1,732.05 $116,369.34
Oct, 2046 284 $416.99 $1,315.06 $1,732.05 $115,054.29
Nov, 2046 285 $412.28 $1,319.77 $1,732.05 $113,734.51
Dec, 2046 286 $407.55 $1,324.50 $1,732.05 $112,410.01
Jan, 2047 287 $402.80 $1,329.25 $1,732.05 $111,080.76
Feb, 2047 288 $398.04 $1,334.01 $1,732.05 $109,746.75
Mar, 2047 289 $393.26 $1,338.79 $1,732.05 $108,407.96
Apr, 2047 290 $388.46 $1,343.59 $1,732.05 $107,064.37
May, 2047 291 $383.65 $1,348.40 $1,732.05 $105,715.97
Jun, 2047 292 $378.82 $1,353.23 $1,732.05 $104,362.74
Jul, 2047 293 $373.97 $1,358.08 $1,732.05 $103,004.65
Aug, 2047 294 $369.10 $1,362.95 $1,732.05 $101,641.70
Sep, 2047 295 $364.22 $1,367.83 $1,732.05 $100,273.87
Oct, 2047 296 $359.31 $1,372.74 $1,732.05 $98,901.13
Nov, 2047 297 $354.40 $1,377.65 $1,732.05 $97,523.48
Dec, 2047 298 $349.46 $1,382.59 $1,732.05 $96,140.89
Jan, 2048 299 $344.50 $1,387.55 $1,732.05 $94,753.34
Feb, 2048 300 $339.53 $1,392.52 $1,732.05 $93,360.83
Mar, 2048 301 $334.54 $1,397.51 $1,732.05 $91,963.32
Apr, 2048 302 $329.54 $1,402.51 $1,732.05 $90,560.80
May, 2048 303 $324.51 $1,407.54 $1,732.05 $89,153.26
Jun, 2048 304 $319.47 $1,412.58 $1,732.05 $87,740.68
Jul, 2048 305 $314.40 $1,417.65 $1,732.05 $86,323.03
Aug, 2048 306 $309.32 $1,422.73 $1,732.05 $84,900.31
Sep, 2048 307 $304.23 $1,427.82 $1,732.05 $83,472.48
Oct, 2048 308 $299.11 $1,432.94 $1,732.05 $82,039.54
Nov, 2048 309 $293.98 $1,438.08 $1,732.05 $80,601.47
Dec, 2048 310 $288.82 $1,443.23 $1,732.05 $79,158.24
Jan, 2049 311 $283.65 $1,448.40 $1,732.05 $77,709.84
Feb, 2049 312 $278.46 $1,453.59 $1,732.05 $76,256.25
Mar, 2049 313 $273.25 $1,458.80 $1,732.05 $74,797.45
Apr, 2049 314 $268.02 $1,464.03 $1,732.05 $73,333.43
May, 2049 315 $262.78 $1,469.27 $1,732.05 $71,864.16
Jun, 2049 316 $257.51 $1,474.54 $1,732.05 $70,389.62
Jul, 2049 317 $252.23 $1,479.82 $1,732.05 $68,909.80
Aug, 2049 318 $246.93 $1,485.12 $1,732.05 $67,424.67
Sep, 2049 319 $241.61 $1,490.44 $1,732.05 $65,934.23
Oct, 2049 320 $236.26 $1,495.79 $1,732.05 $64,438.44
Nov, 2049 321 $230.90 $1,501.15 $1,732.05 $62,937.30
Dec, 2049 322 $225.53 $1,506.52 $1,732.05 $61,430.77
Jan, 2050 323 $220.13 $1,511.92 $1,732.05 $59,918.85
Feb, 2050 324 $214.71 $1,517.34 $1,732.05 $58,401.51
Mar, 2050 325 $209.27 $1,522.78 $1,732.05 $56,878.73
Apr, 2050 326 $203.82 $1,528.23 $1,732.05 $55,350.50
May, 2050 327 $198.34 $1,533.71 $1,732.05 $53,816.79
Jun, 2050 328 $192.84 $1,539.21 $1,732.05 $52,277.58
Jul, 2050 329 $187.33 $1,544.72 $1,732.05 $50,732.86
Aug, 2050 330 $181.79 $1,550.26 $1,732.05 $49,182.60
Sep, 2050 331 $176.24 $1,555.81 $1,732.05 $47,626.79
Oct, 2050 332 $170.66 $1,561.39 $1,732.05 $46,065.40
Nov, 2050 333 $165.07 $1,566.98 $1,732.05 $44,498.42
Dec, 2050 334 $159.45 $1,572.60 $1,732.05 $42,925.82
Jan, 2051 335 $153.82 $1,578.23 $1,732.05 $41,347.59
Feb, 2051 336 $148.16 $1,583.89 $1,732.05 $39,763.70
Mar, 2051 337 $142.49 $1,589.56 $1,732.05 $38,174.14
Apr, 2051 338 $136.79 $1,595.26 $1,732.05 $36,578.88
May, 2051 339 $131.07 $1,600.98 $1,732.05 $34,977.90
Jun, 2051 340 $125.34 $1,606.71 $1,732.05 $33,371.19
Jul, 2051 341 $119.58 $1,612.47 $1,732.05 $31,758.72
Aug, 2051 342 $113.80 $1,618.25 $1,732.05 $30,140.47
Sep, 2051 343 $108.00 $1,624.05 $1,732.05 $28,516.42
Oct, 2051 344 $102.18 $1,629.87 $1,732.05 $26,886.56
Nov, 2051 345 $96.34 $1,635.71 $1,732.05 $25,250.85
Dec, 2051 346 $90.48 $1,641.57 $1,732.05 $23,609.28
Jan, 2052 347 $84.60 $1,647.45 $1,732.05 $21,961.83
Feb, 2052 348 $78.70 $1,653.35 $1,732.05 $20,308.48
Mar, 2052 349 $72.77 $1,659.28 $1,732.05 $18,649.20
Apr, 2052 350 $66.83 $1,665.22 $1,732.05 $16,983.98
May, 2052 351 $60.86 $1,671.19 $1,732.05 $15,312.79
Jun, 2052 352 $54.87 $1,677.18 $1,732.05 $13,635.61
Jul, 2052 353 $48.86 $1,683.19 $1,732.05 $11,952.42
Aug, 2052 354 $42.83 $1,689.22 $1,732.05 $10,263.20
Sep, 2052 355 $36.78 $1,695.27 $1,732.05 $8,567.93
Oct, 2052 356 $30.70 $1,701.35 $1,732.05 $6,866.58
Nov, 2052 357 $24.61 $1,707.44 $1,732.05 $5,159.13
Dec, 2052 358 $18.49 $1,713.56 $1,732.05 $3,445.57
Jan, 2053 359 $12.35 $1,719.70 $1,732.05 $1,725.87
Feb, 2053 360 $6.18 $1,725.87 $1,732.05 $0.00



Amortization Schedule For Land Contract

The amortization schedule for land contract will also show the total interest payment, the costs of the land loan, and the payoff date.


What is a land contract?

A land contract is a legal agreement between the buyer and the seller of a real estate property, such as vacant land, a commercial building, or an apartment. A land contract is similar to a mortgage except that the lender is not a bank, but the seller of the property. The buyer makes regular payments to the seller until the amount is paid in full. The difference between a land contract and a mortgage is that it is easier when the borrower deals with a bank as they follow standard lending procedures. In contrast, a land contract is purely between the borrower and the seller. Borrowers of a land contract should read the terms carefully to make sure that they are not at a disadvantage and get a fair term for their purchase of the land.


How does a land contract work?

A land contract is usually seller financed rather than bank financed. For this reason, the seller determines the interest rate, terms, and the down payment required by the borrower. Seller financing reduced the number of entities involved in selling land or property. It is usually cheaper than a mortgage where borrowers may be required to pay sizable closing costs. Therefore, seller financing is especially beneficial for borrowers who may not qualify for conventional mortgages. Other than that, a land contract works like a mortgage where the borrowers make installment payments directly to the seller of the property instead of a lender. In a traditional mortgage, the buyer gets the title to the house after the closing. With a land contract, the seller has legal rights to the house until the buyer pays off the loan.


Land contract vs. mortgage

Following is a table that shows the main differences between a land contract and a traditional mortgage from the bank.

Land Contract Vs. Home Equity Loan

Land Contract Mortgage
Legal right to the house No, buyers have no right to the house until the contract is fulfilled. Yes, buyers have legal rights to the house.
Closing costs Little or no closing costs Yes, sizable closing costs to the buyer or the seller depending on the contract.
Entities involved Only the buyer and seller of the property are involved. More entities are involved other than the buyer, seller, and bank.
Requirements & Restrictions Fewer restrictions and requirements are required by the buyer. More restrictions and requirements by the bank.
A contract between the buyer and seller Yes No
A contract between the buyer and the bank No Yes



What happens if a buyer defaults on the land contract?

If a buyer defaults on the land contract, the seller has the right to keep all the money that the buyer has paid up to that point and also gets to keep the property. While it may seem like the seller has more advantages in a land contract than a buyer, it does come with risks. The risk for the seller is that he does not collect the full amount at the time of the sale, but only the down payment and the regular payments made by the buyer. The risk to the buyer is that he does not have the rights to the property after making a down payment and the regular payments that he is required to pay. Therefore, borrowers should have a lawyer view the land contract before they make any decisions because it is less regulated than a mortgage contract financed by a bank.


Is a land contract right for you?

While a land contract is beneficial for both the seller and buyer in some situations, it is not always the ideal solution. For buyers who qualify for a conventional mortgage, it may be best to go for a mortgage from the bank than a land contract because there are fewer regulations with a land contract and the interest rate will usually be much higher. First-time home buyers may be surprised to find out that they don't have the legal rights to the house after they make the down payment. A land contract also comes with other risks if the seller is still on a mortgage of his own. If the seller fails to make mortgage payments, the buyer may lose the house even if they did nothing wrong. Before signing a land contract, buyers should do their own due diligence and research thoroughly to make sure it is for them, and that the property is paid off by the seller. Hire a lawyer to review the land contract and avoid any legal traps down the road.

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