How to Calculate Interest Only Owner Finance Payments

Calculating the payment needed to cover just the interest on an owner-financed contract or promissory note is simple. Just follow three easy steps and avoid two common pitfalls. Follow 3 Easy Steps Step 1: Obtain the current principal balance and interest rate from the land contract or promissory note Step 2: Times the balance by the interest rate Step 3: Divide by 12 In fact it is so simple you don’t need the best financial calculator, any standard calculator will … [Read more...]