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 Year


Land Contract Payment Calculator

Loan Amount:
$350,000.00
Monthly Payment:
$2,641.75
Total # Of Payments:
360
Start Date:
Jul, 2024
Payoff Date:
Jun, 2054
Total Interest Paid:
$601,028.53
Total Payment:
$951,028.53

Land Contract Amortization Schedule

Payment Date Payment # Interest Paid Principal Paid Total Payment Remaining Balance
Jul, 2024 1 $2,420.83 $220.91 $2,641.75 $349,779.09
Aug, 2024 2 $2,419.31 $222.44 $2,641.75 $349,556.65
Sep, 2024 3 $2,417.77 $223.98 $2,641.75 $349,332.67
Oct, 2024 4 $2,416.22 $225.53 $2,641.75 $349,107.14
Nov, 2024 5 $2,414.66 $227.09 $2,641.75 $348,880.05
Dec, 2024 6 $2,413.09 $228.66 $2,641.75 $348,651.39
Jan, 2025 7 $2,411.51 $230.24 $2,641.75 $348,421.15
Feb, 2025 8 $2,409.91 $231.83 $2,641.75 $348,189.32
Mar, 2025 9 $2,408.31 $233.44 $2,641.75 $347,955.88
Apr, 2025 10 $2,406.69 $235.05 $2,641.75 $347,720.83
May, 2025 11 $2,405.07 $236.68 $2,641.75 $347,484.15
Jun, 2025 12 $2,403.43 $238.31 $2,641.75 $347,245.84
Jul, 2025 13 $2,401.78 $239.96 $2,641.75 $347,005.88
Aug, 2025 14 $2,400.12 $241.62 $2,641.75 $346,764.26
Sep, 2025 15 $2,398.45 $243.29 $2,641.75 $346,520.96
Oct, 2025 16 $2,396.77 $244.98 $2,641.75 $346,275.99
Nov, 2025 17 $2,395.08 $246.67 $2,641.75 $346,029.32
Dec, 2025 18 $2,393.37 $248.38 $2,641.75 $345,780.94
Jan, 2026 19 $2,391.65 $250.09 $2,641.75 $345,530.85
Feb, 2026 20 $2,389.92 $251.82 $2,641.75 $345,279.02
Mar, 2026 21 $2,388.18 $253.57 $2,641.75 $345,025.46
Apr, 2026 22 $2,386.43 $255.32 $2,641.75 $344,770.14
May, 2026 23 $2,384.66 $257.09 $2,641.75 $344,513.05
Jun, 2026 24 $2,382.88 $258.86 $2,641.75 $344,254.19
Jul, 2026 25 $2,381.09 $260.65 $2,641.75 $343,993.53
Aug, 2026 26 $2,379.29 $262.46 $2,641.75 $343,731.07
Sep, 2026 27 $2,377.47 $264.27 $2,641.75 $343,466.80
Oct, 2026 28 $2,375.65 $266.10 $2,641.75 $343,200.70
Nov, 2026 29 $2,373.80 $267.94 $2,641.75 $342,932.76
Dec, 2026 30 $2,371.95 $269.79 $2,641.75 $342,662.97
Jan, 2027 31 $2,370.09 $271.66 $2,641.75 $342,391.31
Feb, 2027 32 $2,368.21 $273.54 $2,641.75 $342,117.77
Mar, 2027 33 $2,366.31 $275.43 $2,641.75 $341,842.34
Apr, 2027 34 $2,364.41 $277.34 $2,641.75 $341,565.00
May, 2027 35 $2,362.49 $279.25 $2,641.75 $341,285.74
Jun, 2027 36 $2,360.56 $281.19 $2,641.75 $341,004.56
Jul, 2027 37 $2,358.61 $283.13 $2,641.75 $340,721.43
Aug, 2027 38 $2,356.66 $285.09 $2,641.75 $340,436.34
Sep, 2027 39 $2,354.68 $287.06 $2,641.75 $340,149.28
Oct, 2027 40 $2,352.70 $289.05 $2,641.75 $339,860.23
Nov, 2027 41 $2,350.70 $291.05 $2,641.75 $339,569.18
Dec, 2027 42 $2,348.69 $293.06 $2,641.75 $339,276.12
Jan, 2028 43 $2,346.66 $295.09 $2,641.75 $338,981.04
Feb, 2028 44 $2,344.62 $297.13 $2,641.75 $338,683.91
Mar, 2028 45 $2,342.56 $299.18 $2,641.75 $338,384.73
Apr, 2028 46 $2,340.49 $301.25 $2,641.75 $338,083.48
May, 2028 47 $2,338.41 $303.34 $2,641.75 $337,780.14
Jun, 2028 48 $2,336.31 $305.43 $2,641.75 $337,474.71
Jul, 2028 49 $2,334.20 $307.55 $2,641.75 $337,167.16
Aug, 2028 50 $2,332.07 $309.67 $2,641.75 $336,857.49
Sep, 2028 51 $2,329.93 $311.81 $2,641.75 $336,545.68
Oct, 2028 52 $2,327.77 $313.97 $2,641.75 $336,231.70
Nov, 2028 53 $2,325.60 $316.14 $2,641.75 $335,915.56
Dec, 2028 54 $2,323.42 $318.33 $2,641.75 $335,597.23
Jan, 2029 55 $2,321.21 $320.53 $2,641.75 $335,276.70
Feb, 2029 56 $2,319.00 $322.75 $2,641.75 $334,953.95
Mar, 2029 57 $2,316.76 $324.98 $2,641.75 $334,628.97
Apr, 2029 58 $2,314.52 $327.23 $2,641.75 $334,301.74
May, 2029 59 $2,312.25 $329.49 $2,641.75 $333,972.25
Jun, 2029 60 $2,309.97 $331.77 $2,641.75 $333,640.48
Jul, 2029 61 $2,307.68 $334.07 $2,641.75 $333,306.41
Aug, 2029 62 $2,305.37 $336.38 $2,641.75 $332,970.03
Sep, 2029 63 $2,303.04 $338.70 $2,641.75 $332,631.33
Oct, 2029 64 $2,300.70 $341.05 $2,641.75 $332,290.28
Nov, 2029 65 $2,298.34 $343.40 $2,641.75 $331,946.88
Dec, 2029 66 $2,295.97 $345.78 $2,641.75 $331,601.10
Jan, 2030 67 $2,293.57 $348.17 $2,641.75 $331,252.93
Feb, 2030 68 $2,291.17 $350.58 $2,641.75 $330,902.35
Mar, 2030 69 $2,288.74 $353.00 $2,641.75 $330,549.34
Apr, 2030 70 $2,286.30 $355.45 $2,641.75 $330,193.90
May, 2030 71 $2,283.84 $357.90 $2,641.75 $329,835.99
Jun, 2030 72 $2,281.37 $360.38 $2,641.75 $329,475.61
Jul, 2030 73 $2,278.87 $362.87 $2,641.75 $329,112.74
Aug, 2030 74 $2,276.36 $365.38 $2,641.75 $328,747.36
Sep, 2030 75 $2,273.84 $367.91 $2,641.75 $328,379.45
Oct, 2030 76 $2,271.29 $370.45 $2,641.75 $328,008.99
Nov, 2030 77 $2,268.73 $373.02 $2,641.75 $327,635.98
Dec, 2030 78 $2,266.15 $375.60 $2,641.75 $327,260.38
Jan, 2031 79 $2,263.55 $378.19 $2,641.75 $326,882.18
Feb, 2031 80 $2,260.94 $380.81 $2,641.75 $326,501.37
Mar, 2031 81 $2,258.30 $383.44 $2,641.75 $326,117.93
Apr, 2031 82 $2,255.65 $386.10 $2,641.75 $325,731.83
May, 2031 83 $2,252.98 $388.77 $2,641.75 $325,343.06
Jun, 2031 84 $2,250.29 $391.46 $2,641.75 $324,951.61
Jul, 2031 85 $2,247.58 $394.16 $2,641.75 $324,557.44
Aug, 2031 86 $2,244.86 $396.89 $2,641.75 $324,160.55
Sep, 2031 87 $2,242.11 $399.64 $2,641.75 $323,760.92
Oct, 2031 88 $2,239.35 $402.40 $2,641.75 $323,358.52
Nov, 2031 89 $2,236.56 $405.18 $2,641.75 $322,953.33
Dec, 2031 90 $2,233.76 $407.99 $2,641.75 $322,545.35
Jan, 2032 91 $2,230.94 $410.81 $2,641.75 $322,134.54
Feb, 2032 92 $2,228.10 $413.65 $2,641.75 $321,720.89
Mar, 2032 93 $2,225.24 $416.51 $2,641.75 $321,304.38
Apr, 2032 94 $2,222.36 $419.39 $2,641.75 $320,884.99
May, 2032 95 $2,219.45 $422.29 $2,641.75 $320,462.70
Jun, 2032 96 $2,216.53 $425.21 $2,641.75 $320,037.49
Jul, 2032 97 $2,213.59 $428.15 $2,641.75 $319,609.34
Aug, 2032 98 $2,210.63 $431.11 $2,641.75 $319,178.22
Sep, 2032 99 $2,207.65 $434.10 $2,641.75 $318,744.12
Oct, 2032 100 $2,204.65 $437.10 $2,641.75 $318,307.03
Nov, 2032 101 $2,201.62 $440.12 $2,641.75 $317,866.90
Dec, 2032 102 $2,198.58 $443.17 $2,641.75 $317,423.74
Jan, 2033 103 $2,195.51 $446.23 $2,641.75 $316,977.51
Feb, 2033 104 $2,192.43 $449.32 $2,641.75 $316,528.19
Mar, 2033 105 $2,189.32 $452.43 $2,641.75 $316,075.76
Apr, 2033 106 $2,186.19 $455.56 $2,641.75 $315,620.21
May, 2033 107 $2,183.04 $458.71 $2,641.75 $315,161.50
Jun, 2033 108 $2,179.87 $461.88 $2,641.75 $314,699.62
Jul, 2033 109 $2,176.67 $465.07 $2,641.75 $314,234.55
Aug, 2033 110 $2,173.46 $468.29 $2,641.75 $313,766.26
Sep, 2033 111 $2,170.22 $471.53 $2,641.75 $313,294.73
Oct, 2033 112 $2,166.96 $474.79 $2,641.75 $312,819.94
Nov, 2033 113 $2,163.67 $478.07 $2,641.75 $312,341.86
Dec, 2033 114 $2,160.36 $481.38 $2,641.75 $311,860.48
Jan, 2034 115 $2,157.03 $484.71 $2,641.75 $311,375.77
Feb, 2034 116 $2,153.68 $488.06 $2,641.75 $310,887.71
Mar, 2034 117 $2,150.31 $491.44 $2,641.75 $310,396.27
Apr, 2034 118 $2,146.91 $494.84 $2,641.75 $309,901.43
May, 2034 119 $2,143.48 $498.26 $2,641.75 $309,403.17
Jun, 2034 120 $2,140.04 $501.71 $2,641.75 $308,901.46
Jul, 2034 121 $2,136.57 $505.18 $2,641.75 $308,396.28
Aug, 2034 122 $2,133.07 $508.67 $2,641.75 $307,887.61
Sep, 2034 123 $2,129.56 $512.19 $2,641.75 $307,375.42
Oct, 2034 124 $2,126.01 $515.73 $2,641.75 $306,859.69
Nov, 2034 125 $2,122.45 $519.30 $2,641.75 $306,340.39
Dec, 2034 126 $2,118.85 $522.89 $2,641.75 $305,817.50
Jan, 2035 127 $2,115.24 $526.51 $2,641.75 $305,290.99
Feb, 2035 128 $2,111.60 $530.15 $2,641.75 $304,760.84
Mar, 2035 129 $2,107.93 $533.82 $2,641.75 $304,227.02
Apr, 2035 130 $2,104.24 $537.51 $2,641.75 $303,689.51
May, 2035 131 $2,100.52 $541.23 $2,641.75 $303,148.29
Jun, 2035 132 $2,096.78 $544.97 $2,641.75 $302,603.32
Jul, 2035 133 $2,093.01 $548.74 $2,641.75 $302,054.58
Aug, 2035 134 $2,089.21 $552.54 $2,641.75 $301,502.04
Sep, 2035 135 $2,085.39 $556.36 $2,641.75 $300,945.69
Oct, 2035 136 $2,081.54 $560.20 $2,641.75 $300,385.48
Nov, 2035 137 $2,077.67 $564.08 $2,641.75 $299,821.40
Dec, 2035 138 $2,073.76 $567.98 $2,641.75 $299,253.42
Jan, 2036 139 $2,069.84 $571.91 $2,641.75 $298,681.51
Feb, 2036 140 $2,065.88 $575.87 $2,641.75 $298,105.64
Mar, 2036 141 $2,061.90 $579.85 $2,641.75 $297,525.80
Apr, 2036 142 $2,057.89 $583.86 $2,641.75 $296,941.94
May, 2036 143 $2,053.85 $587.90 $2,641.75 $296,354.04
Jun, 2036 144 $2,049.78 $591.96 $2,641.75 $295,762.08
Jul, 2036 145 $2,045.69 $596.06 $2,641.75 $295,166.02
Aug, 2036 146 $2,041.56 $600.18 $2,641.75 $294,565.84
Sep, 2036 147 $2,037.41 $604.33 $2,641.75 $293,961.50
Oct, 2036 148 $2,033.23 $608.51 $2,641.75 $293,352.99
Nov, 2036 149 $2,029.02 $612.72 $2,641.75 $292,740.27
Dec, 2036 150 $2,024.79 $616.96 $2,641.75 $292,123.31
Jan, 2037 151 $2,020.52 $621.23 $2,641.75 $291,502.09
Feb, 2037 152 $2,016.22 $625.52 $2,641.75 $290,876.56
Mar, 2037 153 $2,011.90 $629.85 $2,641.75 $290,246.71
Apr, 2037 154 $2,007.54 $634.21 $2,641.75 $289,612.51
May, 2037 155 $2,003.15 $638.59 $2,641.75 $288,973.91
Jun, 2037 156 $1,998.74 $643.01 $2,641.75 $288,330.90
Jul, 2037 157 $1,994.29 $647.46 $2,641.75 $287,683.45
Aug, 2037 158 $1,989.81 $651.94 $2,641.75 $287,031.51
Sep, 2037 159 $1,985.30 $656.44 $2,641.75 $286,375.07
Oct, 2037 160 $1,980.76 $660.99 $2,641.75 $285,714.08
Nov, 2037 161 $1,976.19 $665.56 $2,641.75 $285,048.52
Dec, 2037 162 $1,971.59 $670.16 $2,641.75 $284,378.36
Jan, 2038 163 $1,966.95 $674.80 $2,641.75 $283,703.57
Feb, 2038 164 $1,962.28 $679.46 $2,641.75 $283,024.11
Mar, 2038 165 $1,957.58 $684.16 $2,641.75 $282,339.94
Apr, 2038 166 $1,952.85 $688.89 $2,641.75 $281,651.05
May, 2038 167 $1,948.09 $693.66 $2,641.75 $280,957.39
Jun, 2038 168 $1,943.29 $698.46 $2,641.75 $280,258.93
Jul, 2038 169 $1,938.46 $703.29 $2,641.75 $279,555.64
Aug, 2038 170 $1,933.59 $708.15 $2,641.75 $278,847.49
Sep, 2038 171 $1,928.70 $713.05 $2,641.75 $278,134.44
Oct, 2038 172 $1,923.76 $717.98 $2,641.75 $277,416.46
Nov, 2038 173 $1,918.80 $722.95 $2,641.75 $276,693.51
Dec, 2038 174 $1,913.80 $727.95 $2,641.75 $275,965.56
Jan, 2039 175 $1,908.76 $732.98 $2,641.75 $275,232.58
Feb, 2039 176 $1,903.69 $738.05 $2,641.75 $274,494.52
Mar, 2039 177 $1,898.59 $743.16 $2,641.75 $273,751.36
Apr, 2039 178 $1,893.45 $748.30 $2,641.75 $273,003.06
May, 2039 179 $1,888.27 $753.47 $2,641.75 $272,249.59
Jun, 2039 180 $1,883.06 $758.69 $2,641.75 $271,490.90
Jul, 2039 181 $1,877.81 $763.93 $2,641.75 $270,726.97
Aug, 2039 182 $1,872.53 $769.22 $2,641.75 $269,957.75
Sep, 2039 183 $1,867.21 $774.54 $2,641.75 $269,183.21
Oct, 2039 184 $1,861.85 $779.90 $2,641.75 $268,403.32
Nov, 2039 185 $1,856.46 $785.29 $2,641.75 $267,618.03
Dec, 2039 186 $1,851.02 $790.72 $2,641.75 $266,827.31
Jan, 2040 187 $1,845.56 $796.19 $2,641.75 $266,031.12
Feb, 2040 188 $1,840.05 $801.70 $2,641.75 $265,229.42
Mar, 2040 189 $1,834.50 $807.24 $2,641.75 $264,422.18
Apr, 2040 190 $1,828.92 $812.83 $2,641.75 $263,609.35
May, 2040 191 $1,823.30 $818.45 $2,641.75 $262,790.90
Jun, 2040 192 $1,817.64 $824.11 $2,641.75 $261,966.79
Jul, 2040 193 $1,811.94 $829.81 $2,641.75 $261,136.99
Aug, 2040 194 $1,806.20 $835.55 $2,641.75 $260,301.44
Sep, 2040 195 $1,800.42 $841.33 $2,641.75 $259,460.11
Oct, 2040 196 $1,794.60 $847.15 $2,641.75 $258,612.96
Nov, 2040 197 $1,788.74 $853.01 $2,641.75 $257,759.96
Dec, 2040 198 $1,782.84 $858.91 $2,641.75 $256,901.05
Jan, 2041 199 $1,776.90 $864.85 $2,641.75 $256,036.20
Feb, 2041 200 $1,770.92 $870.83 $2,641.75 $255,165.37
Mar, 2041 201 $1,764.89 $876.85 $2,641.75 $254,288.52
Apr, 2041 202 $1,758.83 $882.92 $2,641.75 $253,405.61
May, 2041 203 $1,752.72 $889.02 $2,641.75 $252,516.58
Jun, 2041 204 $1,746.57 $895.17 $2,641.75 $251,621.41
Jul, 2041 205 $1,740.38 $901.36 $2,641.75 $250,720.04
Aug, 2041 206 $1,734.15 $907.60 $2,641.75 $249,812.44
Sep, 2041 207 $1,727.87 $913.88 $2,641.75 $248,898.57
Oct, 2041 208 $1,721.55 $920.20 $2,641.75 $247,978.37
Nov, 2041 209 $1,715.18 $926.56 $2,641.75 $247,051.81
Dec, 2041 210 $1,708.78 $932.97 $2,641.75 $246,118.84
Jan, 2042 211 $1,702.32 $939.42 $2,641.75 $245,179.41
Feb, 2042 212 $1,695.82 $945.92 $2,641.75 $244,233.49
Mar, 2042 213 $1,689.28 $952.46 $2,641.75 $243,281.03
Apr, 2042 214 $1,682.69 $959.05 $2,641.75 $242,321.98
May, 2042 215 $1,676.06 $965.69 $2,641.75 $241,356.29
Jun, 2042 216 $1,669.38 $972.36 $2,641.75 $240,383.93
Jul, 2042 217 $1,662.66 $979.09 $2,641.75 $239,404.83
Aug, 2042 218 $1,655.88 $985.86 $2,641.75 $238,418.97
Sep, 2042 219 $1,649.06 $992.68 $2,641.75 $237,426.29
Oct, 2042 220 $1,642.20 $999.55 $2,641.75 $236,426.74
Nov, 2042 221 $1,635.28 $1,006.46 $2,641.75 $235,420.28
Dec, 2042 222 $1,628.32 $1,013.42 $2,641.75 $234,406.86
Jan, 2043 223 $1,621.31 $1,020.43 $2,641.75 $233,386.43
Feb, 2043 224 $1,614.26 $1,027.49 $2,641.75 $232,358.94
Mar, 2043 225 $1,607.15 $1,034.60 $2,641.75 $231,324.34
Apr, 2043 226 $1,599.99 $1,041.75 $2,641.75 $230,282.59
May, 2043 227 $1,592.79 $1,048.96 $2,641.75 $229,233.63
Jun, 2043 228 $1,585.53 $1,056.21 $2,641.75 $228,177.42
Jul, 2043 229 $1,578.23 $1,063.52 $2,641.75 $227,113.90
Aug, 2043 230 $1,570.87 $1,070.87 $2,641.75 $226,043.02
Sep, 2043 231 $1,563.46 $1,078.28 $2,641.75 $224,964.74
Oct, 2043 232 $1,556.01 $1,085.74 $2,641.75 $223,879.00
Nov, 2043 233 $1,548.50 $1,093.25 $2,641.75 $222,785.75
Dec, 2043 234 $1,540.93 $1,100.81 $2,641.75 $221,684.94
Jan, 2044 235 $1,533.32 $1,108.43 $2,641.75 $220,576.52
Feb, 2044 236 $1,525.65 $1,116.09 $2,641.75 $219,460.43
Mar, 2044 237 $1,517.93 $1,123.81 $2,641.75 $218,336.61
Apr, 2044 238 $1,510.16 $1,131.58 $2,641.75 $217,205.03
May, 2044 239 $1,502.33 $1,139.41 $2,641.75 $216,065.62
Jun, 2044 240 $1,494.45 $1,147.29 $2,641.75 $214,918.33
Jul, 2044 241 $1,486.52 $1,155.23 $2,641.75 $213,763.10
Aug, 2044 242 $1,478.53 $1,163.22 $2,641.75 $212,599.88
Sep, 2044 243 $1,470.48 $1,171.26 $2,641.75 $211,428.62
Oct, 2044 244 $1,462.38 $1,179.36 $2,641.75 $210,249.25
Nov, 2044 245 $1,454.22 $1,187.52 $2,641.75 $209,061.73
Dec, 2044 246 $1,446.01 $1,195.74 $2,641.75 $207,866.00
Jan, 2045 247 $1,437.74 $1,204.01 $2,641.75 $206,661.99
Feb, 2045 248 $1,429.41 $1,212.33 $2,641.75 $205,449.66
Mar, 2045 249 $1,421.03 $1,220.72 $2,641.75 $204,228.94
Apr, 2045 250 $1,412.58 $1,229.16 $2,641.75 $202,999.78
May, 2045 251 $1,404.08 $1,237.66 $2,641.75 $201,762.11
Jun, 2045 252 $1,395.52 $1,246.22 $2,641.75 $200,515.89
Jul, 2045 253 $1,386.90 $1,254.84 $2,641.75 $199,261.04
Aug, 2045 254 $1,378.22 $1,263.52 $2,641.75 $197,997.52
Sep, 2045 255 $1,369.48 $1,272.26 $2,641.75 $196,725.26
Oct, 2045 256 $1,360.68 $1,281.06 $2,641.75 $195,444.19
Nov, 2045 257 $1,351.82 $1,289.92 $2,641.75 $194,154.27
Dec, 2045 258 $1,342.90 $1,298.85 $2,641.75 $192,855.42
Jan, 2046 259 $1,333.92 $1,307.83 $2,641.75 $191,547.59
Feb, 2046 260 $1,324.87 $1,316.88 $2,641.75 $190,230.72
Mar, 2046 261 $1,315.76 $1,325.98 $2,641.75 $188,904.74
Apr, 2046 262 $1,306.59 $1,335.15 $2,641.75 $187,569.58
May, 2046 263 $1,297.36 $1,344.39 $2,641.75 $186,225.19
Jun, 2046 264 $1,288.06 $1,353.69 $2,641.75 $184,871.50
Jul, 2046 265 $1,278.69 $1,363.05 $2,641.75 $183,508.45
Aug, 2046 266 $1,269.27 $1,372.48 $2,641.75 $182,135.97
Sep, 2046 267 $1,259.77 $1,381.97 $2,641.75 $180,754.00
Oct, 2046 268 $1,250.22 $1,391.53 $2,641.75 $179,362.47
Nov, 2046 269 $1,240.59 $1,401.16 $2,641.75 $177,961.31
Dec, 2046 270 $1,230.90 $1,410.85 $2,641.75 $176,550.47
Jan, 2047 271 $1,221.14 $1,420.61 $2,641.75 $175,129.86
Feb, 2047 272 $1,211.31 $1,430.43 $2,641.75 $173,699.43
Mar, 2047 273 $1,201.42 $1,440.32 $2,641.75 $172,259.11
Apr, 2047 274 $1,191.46 $1,450.29 $2,641.75 $170,808.82
May, 2047 275 $1,181.43 $1,460.32 $2,641.75 $169,348.50
Jun, 2047 276 $1,171.33 $1,470.42 $2,641.75 $167,878.08
Jul, 2047 277 $1,161.16 $1,480.59 $2,641.75 $166,397.49
Aug, 2047 278 $1,150.92 $1,490.83 $2,641.75 $164,906.66
Sep, 2047 279 $1,140.60 $1,501.14 $2,641.75 $163,405.52
Oct, 2047 280 $1,130.22 $1,511.52 $2,641.75 $161,894.00
Nov, 2047 281 $1,119.77 $1,521.98 $2,641.75 $160,372.02
Dec, 2047 282 $1,109.24 $1,532.51 $2,641.75 $158,839.51
Jan, 2048 283 $1,098.64 $1,543.11 $2,641.75 $157,296.41
Feb, 2048 284 $1,087.97 $1,553.78 $2,641.75 $155,742.63
Mar, 2048 285 $1,077.22 $1,564.53 $2,641.75 $154,178.10
Apr, 2048 286 $1,066.40 $1,575.35 $2,641.75 $152,602.75
May, 2048 287 $1,055.50 $1,586.24 $2,641.75 $151,016.51
Jun, 2048 288 $1,044.53 $1,597.22 $2,641.75 $149,419.29
Jul, 2048 289 $1,033.48 $1,608.26 $2,641.75 $147,811.03
Aug, 2048 290 $1,022.36 $1,619.39 $2,641.75 $146,191.65
Sep, 2048 291 $1,011.16 $1,630.59 $2,641.75 $144,561.06
Oct, 2048 292 $999.88 $1,641.87 $2,641.75 $142,919.19
Nov, 2048 293 $988.52 $1,653.22 $2,641.75 $141,265.97
Dec, 2048 294 $977.09 $1,664.66 $2,641.75 $139,601.32
Jan, 2049 295 $965.58 $1,676.17 $2,641.75 $137,925.15
Feb, 2049 296 $953.98 $1,687.76 $2,641.75 $136,237.38
Mar, 2049 297 $942.31 $1,699.44 $2,641.75 $134,537.94
Apr, 2049 298 $930.55 $1,711.19 $2,641.75 $132,826.75
May, 2049 299 $918.72 $1,723.03 $2,641.75 $131,103.73
Jun, 2049 300 $906.80 $1,734.95 $2,641.75 $129,368.78
Jul, 2049 301 $894.80 $1,746.95 $2,641.75 $127,621.83
Aug, 2049 302 $882.72 $1,759.03 $2,641.75 $125,862.81
Sep, 2049 303 $870.55 $1,771.19 $2,641.75 $124,091.61
Oct, 2049 304 $858.30 $1,783.45 $2,641.75 $122,308.17
Nov, 2049 305 $845.96 $1,795.78 $2,641.75 $120,512.39
Dec, 2049 306 $833.54 $1,808.20 $2,641.75 $118,704.18
Jan, 2050 307 $821.04 $1,820.71 $2,641.75 $116,883.47
Feb, 2050 308 $808.44 $1,833.30 $2,641.75 $115,050.17
Mar, 2050 309 $795.76 $1,845.98 $2,641.75 $113,204.19
Apr, 2050 310 $783.00 $1,858.75 $2,641.75 $111,345.44
May, 2050 311 $770.14 $1,871.61 $2,641.75 $109,473.83
Jun, 2050 312 $757.19 $1,884.55 $2,641.75 $107,589.28
Jul, 2050 313 $744.16 $1,897.59 $2,641.75 $105,691.69
Aug, 2050 314 $731.03 $1,910.71 $2,641.75 $103,780.98
Sep, 2050 315 $717.82 $1,923.93 $2,641.75 $101,857.06
Oct, 2050 316 $704.51 $1,937.23 $2,641.75 $99,919.82
Nov, 2050 317 $691.11 $1,950.63 $2,641.75 $97,969.19
Dec, 2050 318 $677.62 $1,964.13 $2,641.75 $96,005.06
Jan, 2051 319 $664.04 $1,977.71 $2,641.75 $94,027.35
Feb, 2051 320 $650.36 $1,991.39 $2,641.75 $92,035.96
Mar, 2051 321 $636.58 $2,005.16 $2,641.75 $90,030.80
Apr, 2051 322 $622.71 $2,019.03 $2,641.75 $88,011.76
May, 2051 323 $608.75 $2,033.00 $2,641.75 $85,978.77
Jun, 2051 324 $594.69 $2,047.06 $2,641.75 $83,931.71
Jul, 2051 325 $580.53 $2,061.22 $2,641.75 $81,870.49
Aug, 2051 326 $566.27 $2,075.48 $2,641.75 $79,795.01
Sep, 2051 327 $551.92 $2,089.83 $2,641.75 $77,705.18
Oct, 2051 328 $537.46 $2,104.29 $2,641.75 $75,600.90
Nov, 2051 329 $522.91 $2,118.84 $2,641.75 $73,482.06
Dec, 2051 330 $508.25 $2,133.50 $2,641.75 $71,348.56
Jan, 2052 331 $493.49 $2,148.25 $2,641.75 $69,200.31
Feb, 2052 332 $478.64 $2,163.11 $2,641.75 $67,037.20
Mar, 2052 333 $463.67 $2,178.07 $2,641.75 $64,859.13
Apr, 2052 334 $448.61 $2,193.14 $2,641.75 $62,665.99
May, 2052 335 $433.44 $2,208.31 $2,641.75 $60,457.69
Jun, 2052 336 $418.17 $2,223.58 $2,641.75 $58,234.11
Jul, 2052 337 $402.79 $2,238.96 $2,641.75 $55,995.15
Aug, 2052 338 $387.30 $2,254.45 $2,641.75 $53,740.70
Sep, 2052 339 $371.71 $2,270.04 $2,641.75 $51,470.66
Oct, 2052 340 $356.01 $2,285.74 $2,641.75 $49,184.92
Nov, 2052 341 $340.20 $2,301.55 $2,641.75 $46,883.37
Dec, 2052 342 $324.28 $2,317.47 $2,641.75 $44,565.90
Jan, 2053 343 $308.25 $2,333.50 $2,641.75 $42,232.40
Feb, 2053 344 $292.11 $2,349.64 $2,641.75 $39,882.76
Mar, 2053 345 $275.86 $2,365.89 $2,641.75 $37,516.87
Apr, 2053 346 $259.49 $2,382.25 $2,641.75 $35,134.62
May, 2053 347 $243.01 $2,398.73 $2,641.75 $32,735.89
Jun, 2053 348 $226.42 $2,415.32 $2,641.75 $30,320.56
Jul, 2053 349 $209.72 $2,432.03 $2,641.75 $27,888.54
Aug, 2053 350 $192.90 $2,448.85 $2,641.75 $25,439.69
Sep, 2053 351 $175.96 $2,465.79 $2,641.75 $22,973.90
Oct, 2053 352 $158.90 $2,482.84 $2,641.75 $20,491.05
Nov, 2053 353 $141.73 $2,500.02 $2,641.75 $17,991.04
Dec, 2053 354 $124.44 $2,517.31 $2,641.75 $15,473.73
Jan, 2054 355 $107.03 $2,534.72 $2,641.75 $12,939.01
Feb, 2054 356 $89.49 $2,552.25 $2,641.75 $10,386.76
Mar, 2054 357 $71.84 $2,569.90 $2,641.75 $7,816.86
Apr, 2054 358 $54.07 $2,587.68 $2,641.75 $5,229.18
May, 2054 359 $36.17 $2,605.58 $2,641.75 $2,623.60
Jun, 2054 360 $18.15 $2,623.60 $2,641.75 $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 or contract for deed 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


Advantages of contract for deed

There are pros and cons of a contract for deed for land buyers. Following are some of the advantages.

  • Lower Upfront Costs - buyers can save money on loan original fees, application fees, closing costs, and other costs when getting a traditional mortgage from the bank.
  • Flexible Terms - buyers can negotiate directly with the seller for favorite terms.
  • Faster Transaction - the real estate deal can proceed much faster as you no longer have to deal with a slower loan approval process from the bank.

Disadvantages of contract for deed

Here comes the downsides for the buyer with a contract for deed rather than getting a mortgage from the bank.

  • Seller Keeps Title - the buyer doesn't have the title to the house. The seller keeps the title until the loan is paid off.
  • Fewer Regulations - there are very few regulations that protect the buyer.
  • Higher Interest Rate - buyers may pay a higher interest rate and pay more in interest payments over time.
  • Additional Costs - buyers will need to maintain the house and pay taxes.
  • Balloon Payment - a contract for deed often has a balloon payment structure where the buyer is required to make a large payment to pay off the loan.
  • Lose the House - the buyer will lose the house if he cannot afford to make the balloon payment.

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.




Contract For Deed Calculator

If you have a contract for deed with the seller where you repay the seller instead of a traditional lender, the contract for deed calculator will calculate the monthly payments for your contract. If you have a contract for deed with a balloon payment, you can calculate the monthly payments with our balloon payment calculator.


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