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Free land contract amortization calculator for finance & housing planning— estimate monthly P&I, preview early amortization, and see an illustrative balloon when your contract ends before the amortization term. Educational only.
Last updated: April 18, 2026
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Used to calculate the monthly payment
Balloon if shorter than amortization
Monthly payment (P&I)
$1,136
Amount financed
$166,500
Balloon (est.)
$152,341
Through contract end
Interest paid ~$81,250 · Principal paid ~$14,159
Payment is amortized over 30 years, but the contract ends in 7 year(s)—remaining balance is modeled as a balloon (refinance or payoff).
| Mo | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $130 | $1,006 | $166,370 |
| 2 | $131 | $1,005 | $166,239 |
| 3 | $131 | $1,004 | $166,108 |
| 4 | $132 | $1,004 | $165,976 |
| 5 | $133 | $1,003 | $165,843 |
| 6 | $134 | $1,002 | $165,709 |
| 7 | $135 | $1,001 | $165,574 |
| 8 | $135 | $1,000 | $165,439 |
| 9 | $136 | $1,000 | $165,302 |
| 10 | $137 | $999 | $165,165 |
| 11 | $138 | $998 | $165,027 |
| 12 | $139 | $997 | $164,889 |
First 12 months of schedule (illustrative).
Land contract / contract for deed
Financed amount
Contract balance
Computes the amount financed from purchase price and down payment percentage.
10–30 years
Level P&I
Longer amortization typically lowers the monthly payment (all else equal).
Refinance point
Remaining balance
If the contract ends before the loan would amortize to zero, we show an estimated balloon.
Principal vs interest
Table
See how each payment splits early in the loan.
Cumulative
P&I components
Approximate interest and principal paid up to the contract month count.
Disclaimer
Illustrative
Title, recording, and default remedies depend on your jurisdiction and written contract.
Default: $185,000 price, 10% down, 7.25% APR, 30-year amortization, 7-year contract:
Monthly P&I (est.)
~$1,136
Balloon (est.)
$152,341
We calculate the amount financed as the contract price minus your down payment. The monthly principal and interest payment comes from a standard fixed-rate amortization over the amortization term you select (for example, 30 years). If the contract length is shorter than that amortization window, we treat the remaining balance at the end of the contract as an illustrative balloon—the amount often refinanced or paid off to complete the purchase under seller financing structures.
Loan = Price − Down paymentPayment = amortized P&I over amortization yearsBalloon ≈ balance remaining when contract ends earlyIf the loan would pay off sooner than the contract end (unusual with a long amortization), the balloon may be zero.
See also balloon mortgage calculator
Planning a refinance payoff? Try our prepayment penalty calculator if your note includes a penalty clause.
Get a Custom CalculatorUse the amortization term to match the payment your budget needs, and the contract length to match when you expect to qualify for traditional financing or complete the payoff.
Verify deed transfer timing, default remedies, and recording requirements with a local attorney.
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