Commercial Finance Calculator

Formatting only. This does not change the calculation.
The nominal annual rate (APR before fees), not the monthly rate.
Added to the term in years, for terms such as 5 years and 6 months. To state a tenure purely in months, set the years to 0 and enter the whole tenure here.
Additional principal paid on top of the scheduled payment.
Commercial, land and construction loans are commonly written on a long amortisation but fall due earlier, with the remaining balance repaid in one balloon payment. Leave at 0 for a fully amortising loan.
A percentage of the loan withheld at closing. Enter the figure your lender quotes - fee schedules differ by lender and by programme.
Guaranty, packaging, survey or documentation fees withheld from the advance rather than paid separately.
Payment
3,727.87
Loan Payment Calculator
Total interest
151,617.50
Total of payments
651,617.50
Number of payments
60
Payoff time
5 years
Rate per period
0.541667 %
Interest per unit borrowed
0.3032
Interest saved by extra payments
0
Payments saved
0
Loan amount
500,000.00
Annual interest rate
6.5 %
Months to repay
60
Balloon payment due
427,945.30
Fees deducted at closing
0.00
Net amount advanced
500,000.00
APR
6.5 %
Worked out from Standard annuity-immediate payment formula, PMT = P i / (1 - (1+i)^-n) and 4 other sources.
The payment amortises the loan over 20 years, but the loan is called after 5: 427945.3 falls due as a balloon payment with payment 60.

How this is worked out

3 steps
  1. Rate per period = 6.5% / 12 = 0.541667%
  2. Payment = P i / (1 - (1+i)^-n) = 3727.87
  3. Over 60 payments the total paid is 651617.5, of which 151617.5 is interest.
Amortisation scheduletable
periodpaymentinterestprincipalbalance
13,727.872,708.331,019.54498,980.46
23,727.872,702.811,025.06497,955.4
33,727.872,697.261,030.61496,924.79
43,727.872,691.681,036.19495,888.6
53,727.872,686.061,041.81494,846.79
63,727.872,680.421,047.45493,799.34
73,727.872,674.751,053.12492,746.22
83,727.872,669.041,058.83491,687.39
93,727.872,663.311,064.56490,622.83
103,727.872,657.541,070.33489,552.5
113,727.872,651.741,076.13488,476.37
123,727.872,645.911,081.96487,394.41
133,727.872,640.051,087.82486,306.59
143,727.872,634.161,093.71485,212.88
153,727.872,628.241,099.63484,113.25
163,727.872,622.281,105.59483,007.66
173,727.872,616.291,111.58481,896.08
183,727.872,610.271,117.6480,778.48
193,727.872,604.221,123.65479,654.83
203,727.872,598.131,129.74478,525.09
213,727.872,592.011,135.86477,389.23
223,727.872,585.861,142.01476,247.22
233,727.872,579.671,148.2475,099.02
243,727.872,573.451,154.42473,944.6
253,727.872,567.21,160.67472,783.93
263,727.872,560.911,166.96471,616.97
273,727.872,554.591,173.28470,443.69
283,727.872,548.241,179.63469,264.06
293,727.872,541.851,186.02468,078.04
303,727.872,535.421,192.45466,885.59
313,727.872,528.961,198.91465,686.68
323,727.872,522.471,205.4464,481.28
333,727.872,515.941,211.93463,269.35
343,727.872,509.381,218.49462,050.86
353,727.872,502.781,225.09460,825.77
363,727.872,496.141,231.73459,594.04
373,727.872,489.471,238.4458,355.64
383,727.872,482.761,245.11457,110.53
393,727.872,476.021,251.85455,858.68
403,727.872,469.231,258.64454,600.04
413,727.872,462.421,265.45453,334.59
423,727.872,455.561,272.31452,062.28
433,727.872,448.671,279.2450,783.08
443,727.872,441.741,286.13449,496.95
453,727.872,434.781,293.09448,203.86
463,727.872,427.771,300.1446,903.76
473,727.872,420.731,307.14445,596.62
483,727.872,413.651,314.22444,282.4
493,727.872,406.531,321.34442,961.06
503,727.872,399.371,328.5441,632.56
513,727.872,392.181,335.69440,296.87
523,727.872,384.941,342.93438,953.94
533,727.872,377.671,350.2437,603.74
543,727.872,370.351,357.52436,246.22
553,727.872,3631,364.87434,881.35
563,727.872,355.611,372.26433,509.09
573,727.872,348.171,379.7432,129.39
583,727.872,340.71,387.17430,742.22
593,727.872,333.191,394.68429,347.54
603,727.872,325.631,402.24427,945.3
Yearly summarytable
yearinterestprincipalendingBalance
132,128.8512,605.59487,394.41
231,284.6313,449.81473,944.6
330,383.8814,350.56459,594.04
429,422.815,311.64444,282.4
528,397.3416,337.1427,945.3

Results are general information, not financial, tax, legal, medical or engineering advice.