![]() ![]() I'm hoping I can find a mortgage loan professional that is an Excel expert. I use a mortgage software program so I know the APR’s are correct but I don’t know how the software arrives at the APR. a 100,000k loan with a 1 point Fee ($1000) 30 yr loan at 6%, with a pmt of $599.55, - PMT(rate,nper,pv,(fv),type) - would have an APR of 6.094, but if you did the loan as a 30yr amortized loan with a 60 month balloon payment ($93,653.92) the APR with that 1 point would be 6.241 because of the shorter term of the loan. This APR has to do with points paid on a mortgage loan. I would like to use Excel to find the APR for a loan that is amortized for 30 years with a balloon payment in 5 years. I have tried to use the RATE function – Rate(nper,pmt,pv,) - but it only gives me the APR for a loan that is amortized over 30 yrs and paid in 30 years. Its good to be aware that you wont be paying much toward. The bank agrees to a 10-year maturity with a 30 year amortization schedule. For example, imagine you want a loan of 1,000,000 with a 10 interest. An additional lump sum, called a balloon payment, is paid to the bank at the end date of the loan. ![]() The more principal you pay down the greater the percentage of each payment dedicated to principal. In a partially amortized loan, only a part of the sum must be returned in monthly payments. I am trying to calculate APR (Annual Percentage Rate) for a mortgage loan that has a balloon feature. By creating an amortization schedule using our calculator, youll find that the interest portion of your payment initially exceeds the principal portion. ![]() I’m in the same boat as Scott and would love to see if the APR for a balloon payment loan or Interest term loan can be found. I saw this post from sc849nm from 2010 and I would like to bring it up again to see if it can be answered. ![]()
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