Posted by Ryan on October 26, 2005 at 10:33:36:

How about utilizing a balloon loan calculator.

Help me arrange my contract for deed deal? - Posted by LenNJ

Posted by LenNJ on October 26, 2005 at 10:18:40:

Ok here is my situation I have a new construction in Tampa/Land O Lakes. I will like to sell it as contract for deed. I need help in constructiing the deal.

House valued at 250k.(3/2.5) Based on information i have found appreciation rates for Tampa is 11.8%

I would like to sell it for 310-315k on a 2 year lease.

My monthly payments on this property are 1600 a month.

I would like to know what is a reasonable amount to ask down and to ask for monthly payment.

I was thinking of asking 10k down. payment of 1700-1800 a month. Interest rate of 7.5.

I am totally open to any suggestions.

My confusion is how do I determine how much the owe after 2 years given my scenario. I have a mortgage calculator but it just gives me payments based on a certain amount. For a mtg of 310k the payment is 2,064. But I do not now how to calculate if a person is making a payment of 1800 for 2 years and what they owe on a 310k mtg. Any help is appreciated.