Installment Payment Schedule
Prepared by: [Your Name]
Introduction:
This Installment Payment Schedule outlines the repayment terms and schedule for the mortgage loan between John Doe (Borrower) and [Your Company Name] (Lender). It details the dates, amounts, and conditions for each installment payment, ensuring clarity and transparency throughout the loan term.
Borrower Information:
Lender Information:
Company Name: [Your Company Name]
Address: [Your Company Address]
Contact Number: [Your Company Number]
Email: [Your Company Email]
Website: [Your Company Website]
Due Date | Principal Amount | Interest | Total Payment |
|---|
January 1, 2051 | $1,500.00 | $250.00 | $1,750.00 |
February 1, 2051 | $1,500.00 | $245.00 | $1,745.00 |
March 1, 2051 | $1,500.00 | $240.00 | $1,740.00 |
April 1, 2051 | $1,500.00 | $235.00 | $1,735.00 |
May 1, 2051 | $1,500.00 | $230.00 | $1,730.00 |
June 1, 2051 | $1,500.00 | $225.00 | $1,725.00 |
Terms and Conditions:
Additional Sections:
1. Late Payment Policy: Late payments may incur additional fees as per the terms agreed upon in the loan agreement. It is essential to ensure timely payments to avoid penalties.
2. Escrow Account Details: An escrow account is set up to cover property taxes and insurance premiums. Details regarding contributions to this account are outlined in the loan agreement.
3. Loan Modification Options: In case of financial hardship or changes in circumstances, borrowers may explore loan modification options. Contact [Your Company Name] for further information and eligibility criteria.
Signatory Section:
By signing below, both parties acknowledge and agree to the terms of this Installment Payment Schedule.
Borrower:
Date: January 1, 2051
Lender:
Date: January 1, 2051
Schedule Templates @ Template.net
