How to Figure a Payment for a Land Contract
- 1). Create a list of items that will be financed within the land contract, such as the purchase price, recording fees, appraisal and inspection costs.
- 2). Subtract the buyer's deposit from the total amount that requires financing.
- 3). Use a mortgage calculator to figure the payment for a land contract. Enter the amount financed, rate of interest and the number of months to pay off the loan (see Resources). Compute the payment for your land contract.
