How much money should I received if selling a home for 100,000.00 and the buyer wants me to be the banker and his down payment is 30,000.00 without balloon, principles and Interests of 6% for the next 3yrs, for a monthly payment for the next 3 years and at the end of 3yrs. Balance of money paid…..question what would be the monthly payments for 3 years.

I hope I understand your question correctly, but if you’re financing $70,000 over a three-year period at an interest rate of 6.00%, the principal and interest payment on a fully amortized basis would be $2,129.54 per month. At the end of the three years both principal and interest would be paid in full. There would be no balance remaining, and I think this is what you mean when you say “without balloon”.

If I’m misreading your question, add a comment for clarification and I’ll answer.

Advertisements
This entry was posted in Finance. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s