Moneylender 3 Professional - Loan Servicing Software

User's Guide and
Documentation


How to Set up a Loan with a Balloon Payment

If your loan uses an interest-only payment prior to the balloon, when you create the loan, you can just enter the term and then choose the interest only payment amount from the suggestions.

If your loan will be amortized over X years with a balloon in Y, it’s easy to set up in Moneylender by following these steps. If you already created the loan, look a little further down the page for how to adjust the payment settings to amortize and then balloon.

New Loans

Create your loan using the Amortized Loan Wizard. Clicking the New Loan button on the main window will start the Amortized Loan Wizard by default, or click Loan > New Loan > Loan.

On the Payment Schedule page, enter the schedule as it would be for the amortized payment. For example, 360 monthly payments for a 30-year amortization. Click Next.

Image of Moneylender in the Amortized Loan Wizard with the payment count set to 360

Choose the payment option that fits your loan – either Amortized Payment or Adjusted Amortized to set the regular payment amount on the loan.

Image of Moneylender in the Amortized Loan Wizard with the payment amount set to an amortized payment over 360 months.

Click Back and change the number of payments to the balloon term. This will have the loan end in the shorter period. Click Next a couple times to review the late fee and other settings before clicking Finish.

Image of Moneylender in the Amortized Loan Wizard with the payment count set to 60

Existing Loans

If you already created the loan, but the settings didn’t come out the way you wanted, you can still adjust the payment amount and timeline. Select the loan, go to the Settings tab’s Payment section. Select the payment setting and click Edit .

Set the occurrence count to the “amortized over” period, like 360 payments. Click the Click for Calculated Amounts button. Choose the payment amount you want. Change the occurrences to the balloon term, like 60, and click Save.

Image of Moneylender in the editing a payment setting to create an amortization with balloon.

Confirm the Amortization Matches Your Expectations

Once your balloon loan is set up, you can run an amortization report to confirm that the payments and balloon match your expectations.

Image of Moneylender showing an Amortization Schedule that includes a balloon at the final payment.
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