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Excel Loan Amortization Schedule With Balloon Payment In Suffolk
State:
Multi-State
County:
Suffolk
Control #:
US-0019LTR
Format:
Word;
Rich Text
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FAQ
In some cases, you may be able to negotiate with your finance provider to spread the balloon payment over monthly instalments – this is essentially what refinancing is. Doing this can help make the payment more manageable and reduce the financial strain of a large lump sum payment.
However, the larger balloon payment at the end represents a substantial financial obligation that needs to be carefully planned and managed. Accounting Treatment: The balloon payment is usually recorded as a liability in the financial statements until it becomes due.
You can ask your lender for an amortization schedule, but this might not be as helpful if you're looking to see how extra payments could impact that schedule.
This large amount is called a balloon payment, which pays down the remaining balance when the term ends. A balloon mortgage has a short term that does not fully amortize, but the payment is usually based on a 30-year amortization schedule. Balloon mortgages are usually associated with commercial real estate loans.
Fortunately, Excel can be used to create an amortization schedule. The amortization schedule template below can be used for a variable number of periods, as well as extra payments and variable interest rates.
More info
Download a Free Balloon Loan Payment Calculator for Excel. Calculate the balloon payment and amortization schedule for variaous loans.A stepbystep guide for making loan payment tables: How to create an amortization schedule in Excel? Examples and free templates. Select "Loan Amortization Schedule". Fill in your loan, and note that the "Normal" payment is 1060.66.
