For buyers
Can I afford to take over?
Play with the down payment, the seller's share and the grace period. The monthly cost shows up right away.
Down payment$25,0006.3%
Vendor balance$160,000$3,019 /mo
Bank loan$215,000$3,298 /mo
Total monthly payments once both loans run$6,317
| End of year | Vendor balance | Bank balance |
|---|---|---|
| 1 | $145,736 | $190,729 |
| 2 | $116,117 | $164,574 |
| 3 | $84,983 | $136,389 |
| 4 | $52,256 | $106,015 |
| 5 | $17,855 | $73,284 |
| 6 | $0 | $38,011 |
| 7 | $0 | $0 |
Estimate for discussion only, before taxes and fees. Not financial advice: confirm with your accountant and your lender.
An estimate to get your bearings, not a loan offer. Your bank and your accountant will confirm the real terms.