FIN 3433: Example Rental Proforma

Input Data Gross Monthly Rent $ 1,150.00 Mortgage LTV 80%

Purchase Price 115,000 Growth Rate in Rent 3.0% Term (Years) 30
Acquisition Costs 1000 Vacancy Rate 10.0% Rate 4.692%
Land Value (BCAD) 23870 Property Taxes $ 3,444.00 Points 1.5%
Going Out Cap Rate 5.50% Other Operating Exp 1380 Prepay Penalty (%) 0.0%
Selling Expense 6% Growth Rate in Exp 3.0% Equity Hurdle Rate 8.0%
Depreciation Period 27.5 Marginal Tax Bracket 28.0% Mortgage Amount 92,000
Initial Depr Basis 92130 Depn Recovery Rate 25% Monthly Pmt (476.70)
Annual Depreciation 3350 Capital Gain Rate 15% Balance 60 Mo 84,106.55
Prepay Penalty ($) 0
Before Tax Cash Flows by Year
0 1 2 3 4 5 6
Operations 1,876 2,103 2,338 2,580 2,829 3,085
Capital -24,000 66,393
Total CF -24,000 1,876 2,103 2,338 2,580 2,829 69,479
Before Tax IRR =
Before Tax NPV =
Debt Coverage Ratio
Cash on Cash Return

After Tax Cash Flows by Year

0 1 2 3 4 5 6
Operations 2,599 2,792 2,957 3,165 3,689 3,085
Capital -24,000 62,056
Total CF -24,000 2,599 2,792 2,957 3,165 3,689 65,141
After Tax IRR =
After Tax NPV = Going In Cap Rate 6.61%
Going Out Cap Rate 5.50%
Cash Flow From Operations 0 1 2 3 4 5 6
Gross Rent $ 13,800 $ 14,214 $ 14,640 $ 15,080 $ 15,532 $ 15,998
- Vacancy $ (1,380) $ (1,421) $ (1,464) $ (1,508) $ (1,553) $ (1,600)
+ Other Income $0 $0 $0 $0 $0 $0
= Effective Gross Income $ 12,420 $ 12,793 $ 13,176 $ 13,572 $ 13,979 $ 14,398
- Operating Expense $ (4,824) $ (4,969) $ (5,118) $ (5,271) $ (5,429) $ (5,592)
= Net Operating Income 7,596 7,824 8,059 8,300 8,549 8,806
- Mortgage Payment -5,720 -5,720 -5,720 -5,720 -5,720 -5,720
= Before Tax Cash Flow 1,876 2,103 2,338 2,580 2,829 3,085
- Taxes 723 689 619 585 860 0
= After Tax Cash Flow 2,599 2,792 2,957 3,165 3,689 3,085

Income Taxes From Operations 0 1 2 3 4 5 6

End of Year Loan Balance 92,000
NOI 7,596 7,824 8,059 8,300 8,549 8,806
- Interest Paid -4,286 -3,926 -3,567 -3,208 -2,850 -2,492
- Amortized Finance Costs -41 -41 -41 -41 -41 -1176
- Depreciation -3,350 -3,350 -3,350 -3,350 -3,350 -3,350
= Taxable Income -81 506 1,100 1,701 2,308 1,788
Taxes Due

Cash flow From Resale EOY 5 Gain on Sale

Estimated Sales Price 160,106 Net Sales Price 150,500
- Sales Expense 9,606 - Adjusted Basis 132,751
= Net Sales Price 150,500 = Gain on Sale 17,749
- Mortgage Payoff 84,107
= Before Tax Equity Reversion 66,393 Depn Recovery 16,751
- Taxes on Sale 4,337 Capital Gain 998
= After Tax Equity Reversion 62,056
DepRecTax 4,188
Cap Gain Tax 150
Total Tax on Sale 4,337
Mortgage Amortization
Inputs Key Figures
Loan principal amount $150,000.00 Annual loan payments $10,791.96
Annual interest rate 6.000% Monthly payments $899.33
Loan period in years 30 Interest in first calendar year $4,488.72
Base year of loan 2008 Interest over term of loan $173,758.80
Base month of loan July Sum of all payments $323,758.80

Payments in First 12 Months

Beginning Cumulative Cumulative
Year Month Payment Principal Interest Ending Balance
Balance Principal Interest
Jul $150,000.00 $899.33 $149.33 $750.00 $149.33 $750.00 $149,850.67
Aug $149,850.67 $899.33 $150.08 $749.25 $299.41 $1,499.25 $149,700.59
Sep $149,700.59 $899.33 $150.83 $748.50 $450.24 $2,247.75 $149,549.76
Oct $149,549.76 $899.33 $151.58 $747.75 $601.82 $2,995.50 $149,398.18
Nov $149,398.18 $899.33 $152.34 $746.99 $754.16 $3,742.49 $149,245.84
Dec $149,245.84 $899.33 $153.10 $746.23 $907.26 $4,488.72 $149,092.74
2009 Jan $149,092.74 $899.33 $153.87 $745.46 $1,061.13 $5,234.18 $148,938.87
Feb $148,938.87 $899.33 $154.64 $744.69 $1,215.77 $5,978.87 $148,784.23
Mar $148,784.23 $899.33 $155.41 $743.92 $1,371.18 $6,722.79 $148,628.82
Apr $148,628.82 $899.33 $156.19 $743.14 $1,527.37 $7,465.93 $148,472.63
May $148,472.63 $899.33 $156.97 $742.36 $1,684.34 $8,208.29 $148,315.66
Jun $148,315.66 $899.33 $157.75 $741.58 $1,842.09 $8,949.87 $148,157.91

Yearly Schedule of Balances and Payments

Beginning Cumulative Cumulative Ending
Year Payment Principal Interest
Balance Principal Interest Balance
2009 $149,092.74 $10,791.96 $1,897.25 $8,894.71 $2,804.51 $13,383.43 $147,195.49
2010 $147,195.49 $10,791.96 $2,015.05 $8,776.91 $4,819.56 $22,160.34 $145,180.44
2011 $145,180.44 $10,791.96 $2,139.33 $8,652.63 $6,958.89 $30,812.97 $143,041.11
2012 $143,041.11 $10,791.96 $2,271.28 $8,520.68 $9,230.17 $39,333.65 $140,769.83
2013 $140,769.83 $10,791.96 $2,411.37 $8,380.59 $11,641.53 $47,714.25 $138,358.47
2014 $138,358.47 $10,791.96 $2,560.09 $8,231.87 $14,201.63 $55,946.11 $135,798.37
2015 $135,798.37 $10,791.96 $2,717.99 $8,073.97 $16,919.62 $64,020.08 $133,080.38
2016 $133,080.38 $10,791.96 $2,885.63 $7,906.33 $19,805.26 $71,926.40 $130,194.74
2017 $130,194.74 $10,791.96 $3,063.61 $7,728.35 $22,868.87 $79,654.75 $127,131.13
2018 $127,131.13 $10,791.96 $3,252.57 $7,539.39 $26,121.44 $87,194.14 $123,878.56
2019 $123,878.56 $10,791.96 $3,453.18 $7,338.78 $29,574.62 $94,532.92 $120,425.38
2020 $120,425.38 $10,791.96 $3,666.17 $7,125.79 $33,240.79 $101,658.71 $116,759.21
2021 $116,759.21 $10,791.96 $3,892.29 $6,899.67 $37,133.08 $108,558.38 $112,866.92
2022 $112,866.92 $10,791.96 $4,132.36 $6,659.60 $41,265.44 $115,217.98 $108,734.56
2023 $108,734.56 $10,791.96 $4,387.23 $6,404.73 $45,652.67 $121,622.71 $104,347.33
2024 $104,347.33 $10,791.96 $4,657.83 $6,134.13 $50,310.50 $127,756.84 $99,689.50
2025 $99,689.50 $10,791.96 $4,945.11 $5,846.85 $55,255.61 $133,603.69 $94,744.39
2026 $94,744.39 $10,791.96 $5,250.11 $5,541.85 $60,505.72 $139,145.54 $89,494.28
2027 $89,494.28 $10,791.96 $5,573.93 $5,218.03 $66,079.65 $144,363.57 $83,920.35
2028 $83,920.35 $10,791.96 $5,917.72 $4,874.24 $71,997.37 $149,237.81 $78,002.63
2029 $78,002.63 $10,791.96 $6,282.71 $4,509.25 $78,280.08 $153,747.06 $71,719.92
2030 $71,719.92 $10,791.96 $6,670.21 $4,121.75 $84,950.29 $157,868.81 $65,049.71
2031 $65,049.71 $10,791.96 $7,081.62 $3,710.34 $92,031.91 $161,579.15 $57,968.09
2032 $57,968.09 $10,791.96 $7,518.40 $3,273.56 $99,550.31 $164,852.71 $50,449.69
2033 $50,449.69 $10,791.96 $7,982.11 $2,809.85 $107,532.42 $167,662.56 $42,467.58
2034 $42,467.58 $10,791.96 $8,474.43 $2,317.53 $116,006.85 $169,980.09 $33,993.15
2035 $33,993.15 $10,791.96 $8,997.12 $1,794.84 $125,003.97 $171,774.93 $24,996.03
2036 $24,996.03 $10,791.96 $9,552.04 $1,239.92 $134,556.01 $173,014.85 $15,443.99
2037 $15,443.99 $10,791.96 $10,141.19 $650.77 $144,697.20 $173,665.62 $5,302.80
2038 $5,302.80 $5,395.98 $5,302.80 $93.18 $150,000.00 $173,758.80 $0.00
Loan Amortization Schedule

Enter values Loan summary

Loan amount $ 150,000.00 Scheduled payment $ 899.33
Annual interest rate 6.00 % Scheduled number of payments 360
Loan period in years 30 Actual number of payments 360
Number of payments per year 12 Total early payments $ -
Start date of loan 12/1/2009 Total interest $ 173,757.28
Optional extra payments $ -

Lender name:

Pmt. Payment Date Beginning Balance Scheduled Extra Payment Total Payment Principal Interest Ending Balance Cumulative Interest
No. Payment

1 1/1/2010 $ 150,000.00 $ 899.33 $ - $ 899.33 $ 149.33 $ 750.00 $ 149,850.67 $ 750.00

2 2/1/2010 $ 149,850.67 $ 899.33 $ - $ 899.33 $ 150.07 $ 749.25 $ 149,700.60 $ 1,499.25
3 3/1/2010 $ 149,700.60 $ 899.33 $ - $ 899.33 $ 150.82 $ 748.50 $ 149,549.78 $ 2,247.76
4 4/1/2010 $ 149,549.78 $ 899.33 $ - $ 899.33 $ 151.58 $ 747.75 $ 149,398.20 $ 2,995.51
5 5/1/2010 $ 149,398.20 $ 899.33 $ - $ 899.33 $ 152.33 $ 746.99 $ 149,245.87 $ 3,742.50
6 6/1/2010 $ 149,245.87 $ 899.33 $ - $ 899.33 $ 153.10 $ 746.23 $ 149,092.77 $ 4,488.73
7 7/1/2010 $ 149,092.77 $ 899.33 $ - $ 899.33 $ 153.86 $ 745.46 $ 148,938.91 $ 5,234.19
8 8/1/2010 $ 148,938.91 $ 899.33 $ - $ 899.33 $ 154.63 $ 744.69 $ 148,784.28 $ 5,978.88
9 9/1/2010 $ 148,784.28 $ 899.33 $ - $ 899.33 $ 155.40 $ 743.92 $ 148,628.87 $ 6,722.81
10 10/1/2010 $ 148,628.87 $ 899.33 $ - $ 899.33 $ 156.18 $ 743.14 $ 148,472.69 $ 7,465.95
11 11/1/2010 $ 148,472.69 $ 899.33 $ - $ 899.33 $ 156.96 $ 742.36 $ 148,315.73 $ 8,208.31
12 12/1/2010 $ 148,315.73 $ 899.33 $ - $ 899.33 $ 157.75 $ 741.58 $ 148,157.98 $ 8,949.89
13 1/1/2011 $ 148,157.98 $ 899.33 $ - $ 899.33 $ 158.54 $ 740.79 $ 147,999.45 $ 9,690.68
14 2/1/2011 $ 147,999.45 $ 899.33 $ - $ 899.33 $ 159.33 $ 740.00 $ 147,840.12 $ 10,430.68
15 3/1/2011 $ 147,840.12 $ 899.33 $ - $ 899.33 $ 160.13 $ 739.20 $ 147,679.99 $ 11,169.88
16 4/1/2011 $ 147,679.99 $ 899.33 $ - $ 899.33 $ 160.93 $ 738.40 $ 147,519.07 $ 11,908.28
17 5/1/2011 $ 147,519.07 $ 899.33 $ - $ 899.33 $ 161.73 $ 737.60 $ 147,357.34 $ 12,645.87
18 6/1/2011 $ 147,357.34 $ 899.33 $ - $ 899.33 $ 162.54 $ 736.79 $ 147,194.80 $ 13,382.66
19 7/1/2011 $ 147,194.80 $ 899.33 $ - $ 899.33 $ 163.35 $ 735.97 $ 147,031.45 $ 14,118.64
20 8/1/2011 $ 147,031.45 $ 899.33 $ - $ 899.33 $ 164.17 $ 735.16 $ 146,867.28 $ 14,853.79
21 9/1/2011 $ 146,867.28 $ 899.33 $ - $ 899.33 $ 164.99 $ 734.34 $ 146,702.29 $ 15,588.13
22 10/1/2011 $ 146,702.29 $ 899.33 $ - $ 899.33 $ 165.81 $ 733.51 $ 146,536.47 $ 16,321.64
23 11/1/2011 $ 146,536.47 $ 899.33 $ - $ 899.33 $ 166.64 $ 732.68 $ 146,369.83 $ 17,054.32
24 12/1/2011 $ 146,369.83 $ 899.33 $ - $ 899.33 $ 167.48 $ 731.85 $ 146,202.35 $ 17,786.17
25 1/1/2012 $ 146,202.35 $ 899.33 $ - $ 899.33 $ 168.31 $ 731.01 $ 146,034.04 $ 18,517.18
26 2/1/2012 $ 146,034.04 $ 899.33 $ - $ 899.33 $ 169.16 $ 730.17 $ 145,864.88 $ 19,247.35
27 3/1/2012 $ 145,864.88 $ 899.33 $ - $ 899.33 $ 170.00 $ 729.32 $ 145,694.88 $ 19,976.68
28 4/1/2012 $ 145,694.88 $ 899.33 $ - $ 899.33 $ 170.85 $ 728.47 $ 145,524.03 $ 20,705.15
29 5/1/2012 $ 145,524.03 $ 899.33 $ - $ 899.33 $ 171.71 $ 727.62 $ 145,352.33 $ 21,432.77
30 6/1/2012 $ 145,352.33 $ 899.33 $ - $ 899.33 $ 172.56 $ 726.76 $ 145,179.76 $ 22,159.53
31 7/1/2012 $ 145,179.76 $ 899.33 $ - $ 899.33 $ 173.43 $ 725.90 $ 145,006.33 $ 22,885.43
32 8/1/2012 $ 145,006.33 $ 899.33 $ - $ 899.33 $ 174.29 $ 725.03 $ 144,832.04 $ 23,610.47
33 9/1/2012 $ 144,832.04 $ 899.33 $ - $ 899.33 $ 175.17 $ 724.16 $ 144,656.87 $ 24,334.63
34 10/1/2012 $ 144,656.87 $ 899.33 $ - $ 899.33 $ 176.04 $ 723.28 $ 144,480.83 $ 25,057.91
35 11/1/2012 $ 144,480.83 $ 899.33 $ - $ 899.33 $ 176.92 $ 722.40 $ 144,303.91 $ 25,780.31
 Pmt. Payment Date Beginning Balance Scheduled Extra Payment Total Payment Principal Interest Ending Balance Cumulative Interest
No. Payment

36 12/1/2012 $ 144,303.91 $ 899.33 $ - $ 899.33 $ 177.81 $ 721.52 $ 144,126.11 $ 26,501.83

37 1/1/2013 $ 144,126.11 $ 899.33 $ - $ 899.33 $ 178.70 $ 720.63 $ 143,947.41 $ 27,222.46
38 2/1/2013 $ 143,947.41 $ 899.33 $ - $ 899.33 $ 179.59 $ 719.74 $ 143,767.82 $ 27,942.20
39 3/1/2013 $ 143,767.82 $ 899.33 $ - $ 899.33 $ 180.49 $ 718.84 $ 143,587.33 $ 28,661.04
40 4/1/2013 $ 143,587.33 $ 899.33 $ - $ 899.33 $ 181.39 $ 717.94 $ 143,405.95 $ 29,378.98
41 5/1/2013 $ 143,405.95 $ 899.33 $ - $ 899.33 $ 182.30 $ 717.03 $ 143,223.65 $ 30,096.01
42 6/1/2013 $ 143,223.65 $ 899.33 $ - $ 899.33 $ 183.21 $ 716.12 $ 143,040.44 $ 30,812.12
43 7/1/2013 $ 143,040.44 $ 899.33 $ - $ 899.33 $ 184.12 $ 715.20 $ 142,856.32 $ 31,527.33
44 8/1/2013 $ 142,856.32 $ 899.33 $ - $ 899.33 $ 185.04 $ 714.28 $ 142,671.27 $ 32,241.61
45 9/1/2013 $ 142,671.27 $ 899.33 $ - $ 899.33 $ 185.97 $ 713.36 $ 142,485.30 $ 32,954.96
46 10/1/2013 $ 142,485.30 $ 899.33 $ - $ 899.33 $ 186.90 $ 712.43 $ 142,298.41 $ 33,667.39
47 11/1/2013 $ 142,298.41 $ 899.33 $ - $ 899.33 $ 187.83 $ 711.49 $ 142,110.57 $ 34,378.88
48 12/1/2013 $ 142,110.57 $ 899.33 $ - $ 899.33 $ 188.77 $ 710.55 $ 141,921.80 $ 35,089.44
49 1/1/2014 $ 141,921.80 $ 899.33 $ - $ 899.33 $ 189.72 $ 709.61 $ 141,732.08 $ 35,799.05
50 2/1/2014 $ 141,732.08 $ 899.33 $ - $ 899.33 $ 190.67 $ 708.66 $ 141,541.42 $ 36,507.71
51 3/1/2014 $ 141,541.42 $ 899.33 $ - $ 899.33 $ 191.62 $ 707.71 $ 141,349.80 $ 37,215.41
52 4/1/2014 $ 141,349.80 $ 899.33 $ - $ 899.33 $ 192.58 $ 706.75 $ 141,157.22 $ 37,922.16
53 5/1/2014 $ 141,157.22 $ 899.33 $ - $ 899.33 $ 193.54 $ 705.79 $ 140,963.68 $ 38,627.95
54 6/1/2014 $ 140,963.68 $ 899.33 $ - $ 899.33 $ 194.51 $ 704.82 $ 140,769.17 $ 39,332.77
55 7/1/2014 $ 140,769.17 $ 899.33 $ - $ 899.33 $ 195.48 $ 703.85 $ 140,573.69 $ 40,036.61
56 8/1/2014 $ 140,573.69 $ 899.33 $ - $ 899.33 $ 196.46 $ 702.87 $ 140,377.24 $ 40,739.48
57 9/1/2014 $ 140,377.24 $ 899.33 $ - $ 899.33 $ 197.44 $ 701.89 $ 140,179.80 $ 41,441.37
58 10/1/2014 $ 140,179.80 $ 899.33 $ - $ 899.33 $ 198.43 $ 700.90 $ 139,981.37 $ 42,142.27
59 11/1/2014 $ 139,981.37 $ 899.33 $ - $ 899.33 $ 199.42 $ 699.91 $ 139,781.95 $ 42,842.17
60 12/1/2014 $ 139,781.95 $ 899.33 $ - $ 899.33 $ 200.42 $ 698.91 $ 139,581.54 $ 43,541.08
61 1/1/2015 $ 139,581.54 $ 899.33 $ - $ 899.33 $ 201.42 $ 697.91 $ 139,380.12 $ 44,238.99
62 2/1/2015 $ 139,380.12 $ 899.33 $ - $ 899.33 $ 202.43 $ 696.90 $ 139,177.69 $ 44,935.89
63 3/1/2015 $ 139,177.69 $ 899.33 $ - $ 899.33 $ 203.44 $ 695.89 $ 138,974.25 $ 45,631.78
64 4/1/2015 $ 138,974.25 $ 899.33 $ - $ 899.33 $ 204.45 $ 694.87 $ 138,769.80 $ 46,326.65
65 5/1/2015 $ 138,769.80 $ 899.33 $ - $ 899.33 $ 205.48 $ 693.85 $ 138,564.32 $ 47,020.50
66 6/1/2015 $ 138,564.32 $ 899.33 $ - $ 899.33 $ 206.50 $ 692.82 $ 138,357.82 $ 47,713.32
67 7/1/2015 $ 138,357.82 $ 899.33 $ - $ 899.33 $ 207.54 $ 691.79 $ 138,150.28 $ 48,405.11
68 8/1/2015 $ 138,150.28 $ 899.33 $ - $ 899.33 $ 208.57 $ 690.75 $ 137,941.71 $ 49,095.86
69 9/1/2015 $ 137,941.71 $ 899.33 $ - $ 899.33 $ 209.62 $ 689.71 $ 137,732.09 $ 49,785.57
70 10/1/2015 $ 137,732.09 $ 899.33 $ - $ 899.33 $ 210.67 $ 688.66 $ 137,521.43 $ 50,474.23
71 11/1/2015 $ 137,521.43 $ 899.33 $ - $ 899.33 $ 211.72 $ 687.61 $ 137,309.71 $ 51,161.84
72 12/1/2015 $ 137,309.71 $ 899.33 $ - $ 899.33 $ 212.78 $ 686.55 $ 137,096.93 $ 51,848.39
73 1/1/2016 $ 137,096.93 $ 899.33 $ - $ 899.33 $ 213.84 $ 685.48 $ 136,883.09 $ 52,533.87
74 2/1/2016 $ 136,883.09 $ 899.33 $ - $ 899.33 $ 214.91 $ 684.42 $ 136,668.18 $ 53,218.29
75 3/1/2016 $ 136,668.18 $ 899.33 $ - $ 899.33 $ 215.98 $ 683.34 $ 136,452.19 $ 53,901.63
76 4/1/2016 $ 136,452.19 $ 899.33 $ - $ 899.33 $ 217.06 $ 682.26 $ 136,235.13 $ 54,583.89
77 5/1/2016 $ 136,235.13 $ 899.33 $ - $ 899.33 $ 218.15 $ 681.18 $ 136,016.98 $ 55,265.06
78 6/1/2016 $ 136,016.98 $ 899.33 $ - $ 899.33 $ 219.24 $ 680.08 $ 135,797.74 $ 55,945.15
79 7/1/2016 $ 135,797.74 $ 899.33 $ - $ 899.33 $ 220.34 $ 678.99 $ 135,577.40 $ 56,624.14
80 8/1/2016 $ 135,577.40 $ 899.33 $ - $ 899.33 $ 221.44 $ 677.89 $ 135,355.96 $ 57,302.02
81 9/1/2016 $ 135,355.96 $ 899.33 $ - $ 899.33 $ 222.55 $ 676.78 $ 135,133.42 $ 57,978.80
82 10/1/2016 $ 135,133.42 $ 899.33 $ - $ 899.33 $ 223.66 $ 675.67 $ 134,909.76 $ 58,654.47
83 11/1/2016 $ 134,909.76 $ 899.33 $ - $ 899.33 $ 224.78 $ 674.55 $ 134,684.98 $ 59,329.02
84 12/1/2016 $ 134,684.98 $ 899.33 $ - $ 899.33 $ 225.90 $ 673.42 $ 134,459.08 $ 60,002.45
 Pmt. Payment Date Beginning Balance Scheduled Extra Payment Total Payment Principal Interest Ending Balance Cumulative Interest
No. Payment

85 1/1/2017 $ 134,459.08 $ 899.33 $ - $ 899.33 $ 227.03 $ 672.30 $ 134,232.05 $ 60,674.74

86 2/1/2017 $ 134,232.05 $ 899.33 $ - $ 899.33 $ 228.17 $ 671.16 $ 134,003.88 $ 61,345.90
87 3/1/2017 $ 134,003.88 $ 899.33 $ - $ 899.33 $ 229.31 $ 670.02 $ 133,774.58 $ 62,015.92
88 4/1/2017 $ 133,774.58 $ 899.33 $ - $ 899.33 $ 230.45 $ 668.87 $ 133,544.12 $ 62,684.79
89 5/1/2017 $ 133,544.12 $ 899.33 $ - $ 899.33 $ 231.61 $ 667.72 $ 133,312.52 $ 63,352.51
90 6/1/2017 $ 133,312.52 $ 899.33 $ - $ 899.33 $ 232.76 $ 666.56 $ 133,079.76 $ 64,019.08
91 7/1/2017 $ 133,079.76 $ 899.33 $ - $ 899.33 $ 233.93 $ 665.40 $ 132,845.83 $ 64,684.47
92 8/1/2017 $ 132,845.83 $ 899.33 $ - $ 899.33 $ 235.10 $ 664.23 $ 132,610.73 $ 65,348.70
93 9/1/2017 $ 132,610.73 $ 899.33 $ - $ 899.33 $ 236.27 $ 663.05 $ 132,374.46 $ 66,011.76
94 10/1/2017 $ 132,374.46 $ 899.33 $ - $ 899.33 $ 237.45 $ 661.87 $ 132,137.01 $ 66,673.63
95 11/1/2017 $ 132,137.01 $ 899.33 $ - $ 899.33 $ 238.64 $ 660.69 $ 131,898.37 $ 67,334.32
96 12/1/2017 $ 131,898.37 $ 899.33 $ - $ 899.33 $ 239.83 $ 659.49 $ 131,658.53 $ 67,993.81
97 1/1/2018 $ 131,658.53 $ 899.33 $ - $ 899.33 $ 241.03 $ 658.29 $ 131,417.50 $ 68,652.10
98 2/1/2018 $ 131,417.50 $ 899.33 $ - $ 899.33 $ 242.24 $ 657.09 $ 131,175.26 $ 69,309.19
99 3/1/2018 $ 131,175.26 $ 899.33 $ - $ 899.33 $ 243.45 $ 655.88 $ 130,931.81 $ 69,965.06
100 4/1/2018 $ 130,931.81 $ 899.33 $ - $ 899.33 $ 244.67 $ 654.66 $ 130,687.14 $ 70,619.72
101 5/1/2018 $ 130,687.14 $ 899.33 $ - $ 899.33 $ 245.89 $ 653.44 $ 130,441.25 $ 71,273.16
102 6/1/2018 $ 130,441.25 $ 899.33 $ - $ 899.33 $ 247.12 $ 652.21 $ 130,194.13 $ 71,925.36
103 7/1/2018 $ 130,194.13 $ 899.33 $ - $ 899.33 $ 248.36 $ 650.97 $ 129,945.78 $ 72,576.34
104 8/1/2018 $ 129,945.78 $ 899.33 $ - $ 899.33 $ 249.60 $ 649.73 $ 129,696.18 $ 73,226.06
105 9/1/2018 $ 129,696.18 $ 899.33 $ - $ 899.33 $ 250.84 $ 648.48 $ 129,445.34 $ 73,874.54
106 10/1/2018 $ 129,445.34 $ 899.33 $ - $ 899.33 $ 252.10 $ 647.23 $ 129,193.24 $ 74,521.77
107 11/1/2018 $ 129,193.24 $ 899.33 $ - $ 899.33 $ 253.36 $ 645.97 $ 128,939.88 $ 75,167.74
108 12/1/2018 $ 128,939.88 $ 899.33 $ - $ 899.33 $ 254.63 $ 644.70 $ 128,685.25 $ 75,812.44
109 1/1/2019 $ 128,685.25 $ 899.33 $ - $ 899.33 $ 255.90 $ 643.43 $ 128,429.35 $ 76,455.86
110 2/1/2019 $ 128,429.35 $ 899.33 $ - $ 899.33 $ 257.18 $ 642.15 $ 128,172.17 $ 77,098.01
111 3/1/2019 $ 128,172.17 $ 899.33 $ - $ 899.33 $ 258.46 $ 640.86 $ 127,913.71 $ 77,738.87
112 4/1/2019 $ 127,913.71 $ 899.33 $ - $ 899.33 $ 259.76 $ 639.57 $ 127,653.95 $ 78,378.44
113 5/1/2019 $ 127,653.95 $ 899.33 $ - $ 899.33 $ 261.06 $ 638.27 $ 127,392.90 $ 79,016.71
114 6/1/2019 $ 127,392.90 $ 899.33 $ - $ 899.33 $ 262.36 $ 636.96 $ 127,130.53 $ 79,653.67
115 7/1/2019 $ 127,130.53 $ 899.33 $ - $ 899.33 $ 263.67 $ 635.65 $ 126,866.86 $ 80,289.33
116 8/1/2019 $ 126,866.86 $ 899.33 $ - $ 899.33 $ 264.99 $ 634.33 $ 126,601.87 $ 80,923.66
117 9/1/2019 $ 126,601.87 $ 899.33 $ - $ 899.33 $ 266.32 $ 633.01 $ 126,335.55 $ 81,556.67
118 10/1/2019 $ 126,335.55 $ 899.33 $ - $ 899.33 $ 267.65 $ 631.68 $ 126,067.90 $ 82,188.35
119 11/1/2019 $ 126,067.90 $ 899.33 $ - $ 899.33 $ 268.99 $ 630.34 $ 125,798.92 $ 82,818.69
120 12/1/2019 $ 125,798.92 $ 899.33 $ - $ 899.33 $ 270.33 $ 628.99 $ 125,528.59 $ 83,447.68
121 1/1/2020 $ 125,528.59 $ 899.33 $ - $ 899.33 $ 271.68 $ 627.64 $ 125,256.90 $ 84,075.32
122 2/1/2020 $ 125,256.90 $ 899.33 $ - $ 899.33 $ 273.04 $ 626.28 $ 124,983.86 $ 84,701.61
123 3/1/2020 $ 124,983.86 $ 899.33 $ - $ 899.33 $ 274.41 $ 624.92 $ 124,709.46 $ 85,326.53
124 4/1/2020 $ 124,709.46 $ 899.33 $ - $ 899.33 $ 275.78 $ 623.55 $ 124,433.68 $ 85,950.08
125 5/1/2020 $ 124,433.68 $ 899.33 $ - $ 899.33 $ 277.16 $ 622.17 $ 124,156.52 $ 86,572.24
126 6/1/2020 $ 124,156.52 $ 899.33 $ - $ 899.33 $ 278.54 $ 620.78 $ 123,877.98 $ 87,193.03
127 7/1/2020 $ 123,877.98 $ 899.33 $ - $ 899.33 $ 279.94 $ 619.39 $ 123,598.04 $ 87,812.42
128 8/1/2020 $ 123,598.04 $ 899.33 $ - $ 899.33 $ 281.34 $ 617.99 $ 123,316.71 $ 88,430.41
129 9/1/2020 $ 123,316.71 $ 899.33 $ - $ 899.33 $ 282.74 $ 616.58 $ 123,033.96 $ 89,046.99
130 10/1/2020 $ 123,033.96 $ 899.33 $ - $ 899.33 $ 284.16 $ 615.17 $ 122,749.81 $ 89,662.16
131 11/1/2020 $ 122,749.81 $ 899.33 $ - $ 899.33 $ 285.58 $ 613.75 $ 122,464.23 $ 90,275.91
132 12/1/2020 $ 122,464.23 $ 899.33 $ - $ 899.33 $ 287.00 $ 612.32 $ 122,177.23 $ 90,888.23
133 1/1/2021 $ 122,177.23 $ 899.33 $ - $ 899.33 $ 288.44 $ 610.89 $ 121,888.79 $ 91,499.12
 Pmt. Payment Date Beginning Balance Scheduled Extra Payment Total Payment Principal Interest Ending Balance Cumulative Interest
No. Payment

134 2/1/2021 $ 121,888.79 $ 899.33 $ - $ 899.33 $ 289.88 $ 609.44 $ 121,598.91 $ 92,108.56

135 3/1/2021 $ 121,598.91 $ 899.33 $ - $ 899.33 $ 291.33 $ 607.99 $ 121,307.57 $ 92,716.56
136 4/1/2021 $ 121,307.57 $ 899.33 $ - $ 899.33 $ 292.79 $ 606.54 $ 121,014.79 $ 93,323.09
137 5/1/2021 $ 121,014.79 $ 899.33 $ - $ 899.33 $ 294.25 $ 605.07 $ 120,720.53 $ 93,928.17
138 6/1/2021 $ 120,720.53 $ 899.33 $ - $ 899.33 $ 295.72 $ 603.60 $ 120,424.81 $ 94,531.77
139 7/1/2021 $ 120,424.81 $ 899.33 $ - $ 899.33 $ 297.20 $ 602.12 $ 120,127.61 $ 95,133.89
140 8/1/2021 $ 120,127.61 $ 899.33 $ - $ 899.33 $ 298.69 $ 600.64 $ 119,828.92 $ 95,734.53
141 9/1/2021 $ 119,828.92 $ 899.33 $ - $ 899.33 $ 300.18 $ 599.14 $ 119,528.74 $ 96,333.68
142 10/1/2021 $ 119,528.74 $ 899.33 $ - $ 899.33 $ 301.68 $ 597.64 $ 119,227.06 $ 96,931.32
143 11/1/2021 $ 119,227.06 $ 899.33 $ - $ 899.33 $ 303.19 $ 596.14 $ 118,923.87 $ 97,527.46
144 12/1/2021 $ 118,923.87 $ 899.33 $ - $ 899.33 $ 304.71 $ 594.62 $ 118,619.16 $ 98,122.07
145 1/1/2022 $ 118,619.16 $ 899.33 $ - $ 899.33 $ 306.23 $ 593.10 $ 118,312.93 $ 98,715.17
146 2/1/2022 $ 118,312.93 $ 899.33 $ - $ 899.33 $ 307.76 $ 591.56 $ 118,005.17 $ 99,306.74
147 3/1/2022 $ 118,005.17 $ 899.33 $ - $ 899.33 $ 309.30 $ 590.03 $ 117,695.87 $ 99,896.76
148 4/1/2022 $ 117,695.87 $ 899.33 $ - $ 899.33 $ 310.85 $ 588.48 $ 117,385.02 $ 100,485.24
149 5/1/2022 $ 117,385.02 $ 899.33 $ - $ 899.33 $ 312.40 $ 586.93 $ 117,072.62 $ 101,072.17
150 6/1/2022 $ 117,072.62 $ 899.33 $ - $ 899.33 $ 313.96 $ 585.36 $ 116,758.66 $ 101,657.53
151 7/1/2022 $ 116,758.66 $ 899.33 $ - $ 899.33 $ 315.53 $ 583.79 $ 116,443.13 $ 102,241.32
152 8/1/2022 $ 116,443.13 $ 899.33 $ - $ 899.33 $ 317.11 $ 582.22 $ 116,126.02 $ 102,823.54
153 9/1/2022 $ 116,126.02 $ 899.33 $ - $ 899.33 $ 318.70 $ 580.63 $ 115,807.32 $ 103,404.17
154 10/1/2022 $ 115,807.32 $ 899.33 $ - $ 899.33 $ 320.29 $ 579.04 $ 115,487.03 $ 103,983.20
155 11/1/2022 $ 115,487.03 $ 899.33 $ - $ 899.33 $ 321.89 $ 577.44 $ 115,165.14 $ 104,560.64
156 12/1/2022 $ 115,165.14 $ 899.33 $ - $ 899.33 $ 323.50 $ 575.83 $ 114,841.64 $ 105,136.47
157 1/1/2023 $ 114,841.64 $ 899.33 $ - $ 899.33 $ 325.12 $ 574.21 $ 114,516.52 $ 105,710.67
158 2/1/2023 $ 114,516.52 $ 899.33 $ - $ 899.33 $ 326.74 $ 572.58 $ 114,189.78 $ 106,283.26
159 3/1/2023 $ 114,189.78 $ 899.33 $ - $ 899.33 $ 328.38 $ 570.95 $ 113,861.40 $ 106,854.20
160 4/1/2023 $ 113,861.40 $ 899.33 $ - $ 899.33 $ 330.02 $ 569.31 $ 113,531.39 $ 107,423.51
161 5/1/2023 $ 113,531.39 $ 899.33 $ - $ 899.33 $ 331.67 $ 567.66 $ 113,199.72 $ 107,991.17
162 6/1/2023 $ 113,199.72 $ 899.33 $ - $ 899.33 $ 333.33 $ 566.00 $ 112,866.39 $ 108,557.17
163 7/1/2023 $ 112,866.39 $ 899.33 $ - $ 899.33 $ 334.99 $ 564.33 $ 112,531.40 $ 109,121.50
164 8/1/2023 $ 112,531.40 $ 899.33 $ - $ 899.33 $ 336.67 $ 562.66 $ 112,194.73 $ 109,684.16
165 9/1/2023 $ 112,194.73 $ 899.33 $ - $ 899.33 $ 338.35 $ 560.97 $ 111,856.38 $ 110,245.13
166 10/1/2023 $ 111,856.38 $ 899.33 $ - $ 899.33 $ 340.04 $ 559.28 $ 111,516.33 $ 110,804.41
167 11/1/2023 $ 111,516.33 $ 899.33 $ - $ 899.33 $ 341.74 $ 557.58 $ 111,174.59 $ 111,361.99
168 12/1/2023 $ 111,174.59 $ 899.33 $ - $ 899.33 $ 343.45 $ 555.87 $ 110,831.13 $ 111,917.87
169 1/1/2024 $ 110,831.13 $ 899.33 $ - $ 899.33 $ 345.17 $ 554.16 $ 110,485.96 $ 112,472.02
170 2/1/2024 $ 110,485.96 $ 899.33 $ - $ 899.33 $ 346.90 $ 552.43 $ 110,139.07 $ 113,024.45
171 3/1/2024 $ 110,139.07 $ 899.33 $ - $ 899.33 $ 348.63 $ 550.70 $ 109,790.44 $ 113,575.15
172 4/1/2024 $ 109,790.44 $ 899.33 $ - $ 899.33 $ 350.37 $ 548.95 $ 109,440.06 $ 114,124.10
173 5/1/2024 $ 109,440.06 $ 899.33 $ - $ 899.33 $ 352.13 $ 547.20 $ 109,087.94 $ 114,671.30
174 6/1/2024 $ 109,087.94 $ 899.33 $ - $ 899.33 $ 353.89 $ 545.44 $ 108,734.05 $ 115,216.74
175 7/1/2024 $ 108,734.05 $ 899.33 $ - $ 899.33 $ 355.66 $ 543.67 $ 108,378.40 $ 115,760.41
176 8/1/2024 $ 108,378.40 $ 899.33 $ - $ 899.33 $ 357.43 $ 541.89 $ 108,020.96 $ 116,302.30
177 9/1/2024 $ 108,020.96 $ 899.33 $ - $ 899.33 $ 359.22 $ 540.10 $ 107,661.74 $ 116,842.41
178 10/1/2024 $ 107,661.74 $ 899.33 $ - $ 899.33 $ 361.02 $ 538.31 $ 107,300.73 $ 117,380.72
179 11/1/2024 $ 107,300.73 $ 899.33 $ - $ 899.33 $ 362.82 $ 536.50 $ 106,937.90 $ 117,917.22
180 12/1/2024 $ 106,937.90 $ 899.33 $ - $ 899.33 $ 364.64 $ 534.69 $ 106,573.27 $ 118,451.91
181 1/1/2025 $ 106,573.27 $ 899.33 $ - $ 899.33 $ 366.46 $ 532.87 $ 106,206.81 $ 118,984.77
182 2/1/2025 $ 106,206.81 $ 899.33 $ - $ 899.33 $ 368.29 $ 531.03 $ 105,838.52 $ 119,515.81
 Pmt. Payment Date Beginning Balance Scheduled Extra Payment Total Payment Principal Interest Ending Balance Cumulative Interest
No. Payment

183 3/1/2025 $ 105,838.52 $ 899.33 $ - $ 899.33 $ 370.13 $ 529.19 $ 105,468.38 $ 120,045.00

184 4/1/2025 $ 105,468.38 $ 899.33 $ - $ 899.33 $ 371.98 $ 527.34 $ 105,096.40 $ 120,572.34
185 5/1/2025 $ 105,096.40 $ 899.33 $ - $ 899.33 $ 373.84 $ 525.48 $ 104,722.55 $ 121,097.83
186 6/1/2025 $ 104,722.55 $ 899.33 $ - $ 899.33 $ 375.71 $ 523.61 $ 104,346.84 $ 121,621.44
187 7/1/2025 $ 104,346.84 $ 899.33 $ - $ 899.33 $ 377.59 $ 521.73 $ 103,969.25 $ 122,143.17
188 8/1/2025 $ 103,969.25 $ 899.33 $ - $ 899.33 $ 379.48 $ 519.85 $ 103,589.77 $ 122,663.02
189 9/1/2025 $ 103,589.77 $ 899.33 $ - $ 899.33 $ 381.38 $ 517.95 $ 103,208.39 $ 123,180.97
190 10/1/2025 $ 103,208.39 $ 899.33 $ - $ 899.33 $ 383.28 $ 516.04 $ 102,825.11 $ 123,697.01
191 11/1/2025 $ 102,825.11 $ 899.33 $ - $ 899.33 $ 385.20 $ 514.13 $ 102,439.91 $ 124,211.13
192 12/1/2025 $ 102,439.91 $ 899.33 $ - $ 899.33 $ 387.13 $ 512.20 $ 102,052.78 $ 124,723.33
193 1/1/2026 $ 102,052.78 $ 899.33 $ - $ 899.33 $ 389.06 $ 510.26 $ 101,663.72 $ 125,233.60
194 2/1/2026 $ 101,663.72 $ 899.33 $ - $ 899.33 $ 391.01 $ 508.32 $ 101,272.71 $ 125,741.92
195 3/1/2026 $ 101,272.71 $ 899.33 $ - $ 899.33 $ 392.96 $ 506.36 $ 100,879.75 $ 126,248.28
196 4/1/2026 $ 100,879.75 $ 899.33 $ - $ 899.33 $ 394.93 $ 504.40 $ 100,484.82 $ 126,752.68
197 5/1/2026 $ 100,484.82 $ 899.33 $ - $ 899.33 $ 396.90 $ 502.42 $ 100,087.92 $ 127,255.10
198 6/1/2026 $ 100,087.92 $ 899.33 $ - $ 899.33 $ 398.89 $ 500.44 $ 99,689.04 $ 127,755.54
199 7/1/2026 $ 99,689.04 $ 899.33 $ - $ 899.33 $ 400.88 $ 498.45 $ 99,288.16 $ 128,253.99
200 8/1/2026 $ 99,288.16 $ 899.33 $ - $ 899.33 $ 402.89 $ 496.44 $ 98,885.27 $ 128,750.43
201 9/1/2026 $ 98,885.27 $ 899.33 $ - $ 899.33 $ 404.90 $ 494.43 $ 98,480.37 $ 129,244.86
202 10/1/2026 $ 98,480.37 $ 899.33 $ - $ 899.33 $ 406.92 $ 492.40 $ 98,073.45 $ 129,737.26
203 11/1/2026 $ 98,073.45 $ 899.33 $ - $ 899.33 $ 408.96 $ 490.37 $ 97,664.49 $ 130,227.62
204 12/1/2026 $ 97,664.49 $ 899.33 $ - $ 899.33 $ 411.00 $ 488.32 $ 97,253.49 $ 130,715.95
205 1/1/2027 $ 97,253.49 $ 899.33 $ - $ 899.33 $ 413.06 $ 486.27 $ 96,840.43 $ 131,202.21
206 2/1/2027 $ 96,840.43 $ 899.33 $ - $ 899.33 $ 415.12 $ 484.20 $ 96,425.30 $ 131,686.42
207 3/1/2027 $ 96,425.30 $ 899.33 $ - $ 899.33 $ 417.20 $ 482.13 $ 96,008.10 $ 132,168.54
208 4/1/2027 $ 96,008.10 $ 899.33 $ - $ 899.33 $ 419.29 $ 480.04 $ 95,588.82 $ 132,648.58
209 5/1/2027 $ 95,588.82 $ 899.33 $ - $ 899.33 $ 421.38 $ 477.94 $ 95,167.44 $ 133,126.53
210 6/1/2027 $ 95,167.44 $ 899.33 $ - $ 899.33 $ 423.49 $ 475.84 $ 94,743.95 $ 133,602.36
211 7/1/2027 $ 94,743.95 $ 899.33 $ - $ 899.33 $ 425.61 $ 473.72 $ 94,318.34 $ 134,076.08
212 8/1/2027 $ 94,318.34 $ 899.33 $ - $ 899.33 $ 427.73 $ 471.59 $ 93,890.61 $ 134,547.68
213 9/1/2027 $ 93,890.61 $ 899.33 $ - $ 899.33 $ 429.87 $ 469.45 $ 93,460.74 $ 135,017.13
214 10/1/2027 $ 93,460.74 $ 899.33 $ - $ 899.33 $ 432.02 $ 467.30 $ 93,028.71 $ 135,484.43
215 11/1/2027 $ 93,028.71 $ 899.33 $ - $ 899.33 $ 434.18 $ 465.14 $ 92,594.53 $ 135,949.58
216 12/1/2027 $ 92,594.53 $ 899.33 $ - $ 899.33 $ 436.35 $ 462.97 $ 92,158.18 $ 136,412.55
217 1/1/2028 $ 92,158.18 $ 899.33 $ - $ 899.33 $ 438.53 $ 460.79 $ 91,719.64 $ 136,873.34
218 2/1/2028 $ 91,719.64 $ 899.33 $ - $ 899.33 $ 440.73 $ 458.60 $ 91,278.92 $ 137,331.94
219 3/1/2028 $ 91,278.92 $ 899.33 $ - $ 899.33 $ 442.93 $ 456.39 $ 90,835.99 $ 137,788.33
220 4/1/2028 $ 90,835.99 $ 899.33 $ - $ 899.33 $ 445.15 $ 454.18 $ 90,390.84 $ 138,242.51
221 5/1/2028 $ 90,390.84 $ 899.33 $ - $ 899.33 $ 447.37 $ 451.95 $ 89,943.47 $ 138,694.47
222 6/1/2028 $ 89,943.47 $ 899.33 $ - $ 899.33 $ 449.61 $ 449.72 $ 89,493.86 $ 139,144.18
223 7/1/2028 $ 89,493.86 $ 899.33 $ - $ 899.33 $ 451.86 $ 447.47 $ 89,042.00 $ 139,591.65
224 8/1/2028 $ 89,042.00 $ 899.33 $ - $ 899.33 $ 454.12 $ 445.21 $ 88,587.89 $ 140,036.86
225 9/1/2028 $ 88,587.89 $ 899.33 $ - $ 899.33 $ 456.39 $ 442.94 $ 88,131.50 $ 140,479.80
226 10/1/2028 $ 88,131.50 $ 899.33 $ - $ 899.33 $ 458.67 $ 440.66 $ 87,672.83 $ 140,920.46
227 11/1/2028 $ 87,672.83 $ 899.33 $ - $ 899.33 $ 460.96 $ 438.36 $ 87,211.87 $ 141,358.82
228 12/1/2028 $ 87,211.87 $ 899.33 $ - $ 899.33 $ 463.27 $ 436.06 $ 86,748.60 $ 141,794.88
229 1/1/2029 $ 86,748.60 $ 899.33 $ - $ 899.33 $ 465.58 $ 433.74 $ 86,283.02 $ 142,228.63
230 2/1/2029 $ 86,283.02 $ 899.33 $ - $ 899.33 $ 467.91 $ 431.42 $ 85,815.11 $ 142,660.04
231 3/1/2029 $ 85,815.11 $ 899.33 $ - $ 899.33 $ 470.25 $ 429.08 $ 85,344.86 $ 143,089.12
 Pmt. Payment Date Beginning Balance Scheduled Extra Payment Total Payment Principal Interest Ending Balance Cumulative Interest
No. Payment

232 4/1/2029 $ 85,344.86 $ 899.33 $ - $ 899.33 $ 472.60 $ 426.72 $ 84,872.26 $ 143,515.84

233 5/1/2029 $ 84,872.26 $ 899.33 $ - $ 899.33 $ 474.96 $ 424.36 $ 84,397.29 $ 143,940.20
234 6/1/2029 $ 84,397.29 $ 899.33 $ - $ 899.33 $ 477.34 $ 421.99 $ 83,919.96 $ 144,362.19
235 7/1/2029 $ 83,919.96 $ 899.33 $ - $ 899.33 $ 479.73 $ 419.60 $ 83,440.23 $ 144,781.79
236 8/1/2029 $ 83,440.23 $ 899.33 $ - $ 899.33 $ 482.12 $ 417.20 $ 82,958.10 $ 145,198.99
237 9/1/2029 $ 82,958.10 $ 899.33 $ - $ 899.33 $ 484.54 $ 414.79 $ 82,473.57 $ 145,613.78
238 10/1/2029 $ 82,473.57 $ 899.33 $ - $ 899.33 $ 486.96 $ 412.37 $ 81,986.61 $ 146,026.15
239 11/1/2029 $ 81,986.61 $ 899.33 $ - $ 899.33 $ 489.39 $ 409.93 $ 81,497.22 $ 146,436.08
240 12/1/2029 $ 81,497.22 $ 899.33 $ - $ 899.33 $ 491.84 $ 407.49 $ 81,005.38 $ 146,843.57
241 1/1/2030 $ 81,005.38 $ 899.33 $ - $ 899.33 $ 494.30 $ 405.03 $ 80,511.08 $ 147,248.60
242 2/1/2030 $ 80,511.08 $ 899.33 $ - $ 899.33 $ 496.77 $ 402.56 $ 80,014.31 $ 147,651.15
243 3/1/2030 $ 80,014.31 $ 899.33 $ - $ 899.33 $ 499.25 $ 400.07 $ 79,515.06 $ 148,051.22
244 4/1/2030 $ 79,515.06 $ 899.33 $ - $ 899.33 $ 501.75 $ 397.58 $ 79,013.31 $ 148,448.80
245 5/1/2030 $ 79,013.31 $ 899.33 $ - $ 899.33 $ 504.26 $ 395.07 $ 78,509.05 $ 148,843.86
246 6/1/2030 $ 78,509.05 $ 899.33 $ - $ 899.33 $ 506.78 $ 392.55 $ 78,002.27 $ 149,236.41
247 7/1/2030 $ 78,002.27 $ 899.33 $ - $ 899.33 $ 509.31 $ 390.01 $ 77,492.95 $ 149,626.42
248 8/1/2030 $ 77,492.95 $ 899.33 $ - $ 899.33 $ 511.86 $ 387.46 $ 76,981.09 $ 150,013.89
249 9/1/2030 $ 76,981.09 $ 899.33 $ - $ 899.33 $ 514.42 $ 384.91 $ 76,466.67 $ 150,398.79
250 10/1/2030 $ 76,466.67 $ 899.33 $ - $ 899.33 $ 516.99 $ 382.33 $ 75,949.68 $ 150,781.12
251 11/1/2030 $ 75,949.68 $ 899.33 $ - $ 899.33 $ 519.58 $ 379.75 $ 75,430.10 $ 151,160.87
252 12/1/2030 $ 75,430.10 $ 899.33 $ - $ 899.33 $ 522.18 $ 377.15 $ 74,907.92 $ 151,538.02
253 1/1/2031 $ 74,907.92 $ 899.33 $ - $ 899.33 $ 524.79 $ 374.54 $ 74,383.14 $ 151,912.56
254 2/1/2031 $ 74,383.14 $ 899.33 $ - $ 899.33 $ 527.41 $ 371.92 $ 73,855.73 $ 152,284.48
255 3/1/2031 $ 73,855.73 $ 899.33 $ - $ 899.33 $ 530.05 $ 369.28 $ 73,325.68 $ 152,653.76
256 4/1/2031 $ 73,325.68 $ 899.33 $ - $ 899.33 $ 532.70 $ 366.63 $ 72,792.98 $ 153,020.39
257 5/1/2031 $ 72,792.98 $ 899.33 $ - $ 899.33 $ 535.36 $ 363.96 $ 72,257.62 $ 153,384.35
258 6/1/2031 $ 72,257.62 $ 899.33 $ - $ 899.33 $ 538.04 $ 361.29 $ 71,719.59 $ 153,745.64
259 7/1/2031 $ 71,719.59 $ 899.33 $ - $ 899.33 $ 540.73 $ 358.60 $ 71,178.86 $ 154,104.24
260 8/1/2031 $ 71,178.86 $ 899.33 $ - $ 899.33 $ 543.43 $ 355.89 $ 70,635.43 $ 154,460.13
261 9/1/2031 $ 70,635.43 $ 899.33 $ - $ 899.33 $ 546.15 $ 353.18 $ 70,089.28 $ 154,813.31
262 10/1/2031 $ 70,089.28 $ 899.33 $ - $ 899.33 $ 548.88 $ 350.45 $ 69,540.40 $ 155,163.75
263 11/1/2031 $ 69,540.40 $ 899.33 $ - $ 899.33 $ 551.62 $ 347.70 $ 68,988.77 $ 155,511.46
264 12/1/2031 $ 68,988.77 $ 899.33 $ - $ 899.33 $ 554.38 $ 344.94 $ 68,434.39 $ 155,856.40
265 1/1/2032 $ 68,434.39 $ 899.33 $ - $ 899.33 $ 557.15 $ 342.17 $ 67,877.24 $ 156,198.57
266 2/1/2032 $ 67,877.24 $ 899.33 $ - $ 899.33 $ 559.94 $ 339.39 $ 67,317.30 $ 156,537.96
267 3/1/2032 $ 67,317.30 $ 899.33 $ - $ 899.33 $ 562.74 $ 336.59 $ 66,754.56 $ 156,874.54
268 4/1/2032 $ 66,754.56 $ 899.33 $ - $ 899.33 $ 565.55 $ 333.77 $ 66,189.01 $ 157,208.32
269 5/1/2032 $ 66,189.01 $ 899.33 $ - $ 899.33 $ 568.38 $ 330.95 $ 65,620.63 $ 157,539.26
270 6/1/2032 $ 65,620.63 $ 899.33 $ - $ 899.33 $ 571.22 $ 328.10 $ 65,049.40 $ 157,867.37
271 7/1/2032 $ 65,049.40 $ 899.33 $ - $ 899.33 $ 574.08 $ 325.25 $ 64,475.32 $ 158,192.61
272 8/1/2032 $ 64,475.32 $ 899.33 $ - $ 899.33 $ 576.95 $ 322.38 $ 63,898.38 $ 158,514.99
273 9/1/2032 $ 63,898.38 $ 899.33 $ - $ 899.33 $ 579.83 $ 319.49 $ 63,318.54 $ 158,834.48
274 10/1/2032 $ 63,318.54 $ 899.33 $ - $ 899.33 $ 582.73 $ 316.59 $ 62,735.81 $ 159,151.07
275 11/1/2032 $ 62,735.81 $ 899.33 $ - $ 899.33 $ 585.65 $ 313.68 $ 62,150.16 $ 159,464.75
276 12/1/2032 $ 62,150.16 $ 899.33 $ - $ 899.33 $ 588.57 $ 310.75 $ 61,561.59 $ 159,775.50
277 1/1/2033 $ 61,561.59 $ 899.33 $ - $ 899.33 $ 591.52 $ 307.81 $ 60,970.07 $ 160,083.31
278 2/1/2033 $ 60,970.07 $ 899.33 $ - $ 899.33 $ 594.48 $ 304.85 $ 60,375.59 $ 160,388.16
279 3/1/2033 $ 60,375.59 $ 899.33 $ - $ 899.33 $ 597.45 $ 301.88 $ 59,778.15 $ 160,690.04
280 4/1/2033 $ 59,778.15 $ 899.33 $ - $ 899.33 $ 600.44 $ 298.89 $ 59,177.71 $ 160,988.93
 Pmt. Payment Date Beginning Balance Scheduled Extra Payment Total Payment Principal Interest Ending Balance Cumulative Interest
No. Payment

281 5/1/2033 $ 59,177.71 $ 899.33 $ - $ 899.33 $ 603.44 $ 295.89 $ 58,574.27 $ 161,284.82

282 6/1/2033 $ 58,574.27 $ 899.33 $ - $ 899.33 $ 606.45 $ 292.87 $ 57,967.82 $ 161,577.69
283 7/1/2033 $ 57,967.82 $ 899.33 $ - $ 899.33 $ 609.49 $ 289.84 $ 57,358.33 $ 161,867.53
284 8/1/2033 $ 57,358.33 $ 899.33 $ - $ 899.33 $ 612.53 $ 286.79 $ 56,745.80 $ 162,154.32
285 9/1/2033 $ 56,745.80 $ 899.33 $ - $ 899.33 $ 615.60 $ 283.73 $ 56,130.20 $ 162,438.05
286 10/1/2033 $ 56,130.20 $ 899.33 $ - $ 899.33 $ 618.67 $ 280.65 $ 55,511.53 $ 162,718.70
287 11/1/2033 $ 55,511.53 $ 899.33 $ - $ 899.33 $ 621.77 $ 277.56 $ 54,889.76 $ 162,996.26
288 12/1/2033 $ 54,889.76 $ 899.33 $ - $ 899.33 $ 624.88 $ 274.45 $ 54,264.88 $ 163,270.71
289 1/1/2034 $ 54,264.88 $ 899.33 $ - $ 899.33 $ 628.00 $ 271.32 $ 53,636.88 $ 163,542.03
290 2/1/2034 $ 53,636.88 $ 899.33 $ - $ 899.33 $ 631.14 $ 268.18 $ 53,005.74 $ 163,810.22
291 3/1/2034 $ 53,005.74 $ 899.33 $ - $ 899.33 $ 634.30 $ 265.03 $ 52,371.44 $ 164,075.25
292 4/1/2034 $ 52,371.44 $ 899.33 $ - $ 899.33 $ 637.47 $ 261.86 $ 51,733.97 $ 164,337.10
293 5/1/2034 $ 51,733.97 $ 899.33 $ - $ 899.33 $ 640.66 $ 258.67 $ 51,093.32 $ 164,595.77
294 6/1/2034 $ 51,093.32 $ 899.33 $ - $ 899.33 $ 643.86 $ 255.47 $ 50,449.46 $ 164,851.24
295 7/1/2034 $ 50,449.46 $ 899.33 $ - $ 899.33 $ 647.08 $ 252.25 $ 49,802.38 $ 165,103.49
296 8/1/2034 $ 49,802.38 $ 899.33 $ - $ 899.33 $ 650.31 $ 249.01 $ 49,152.06 $ 165,352.50
297 9/1/2034 $ 49,152.06 $ 899.33 $ - $ 899.33 $ 653.57 $ 245.76 $ 48,498.50 $ 165,598.26
298 10/1/2034 $ 48,498.50 $ 899.33 $ - $ 899.33 $ 656.83 $ 242.49 $ 47,841.67 $ 165,840.75
299 11/1/2034 $ 47,841.67 $ 899.33 $ - $ 899.33 $ 660.12 $ 239.21 $ 47,181.55 $ 166,079.96
300 12/1/2034 $ 47,181.55 $ 899.33 $ - $ 899.33 $ 663.42 $ 235.91 $ 46,518.13 $ 166,315.87
301 1/1/2035 $ 46,518.13 $ 899.33 $ - $ 899.33 $ 666.74 $ 232.59 $ 45,851.40 $ 166,548.46
302 2/1/2035 $ 45,851.40 $ 899.33 $ - $ 899.33 $ 670.07 $ 229.26 $ 45,181.33 $ 166,777.71
303 3/1/2035 $ 45,181.33 $ 899.33 $ - $ 899.33 $ 673.42 $ 225.91 $ 44,507.91 $ 167,003.62
304 4/1/2035 $ 44,507.91 $ 899.33 $ - $ 899.33 $ 676.79 $ 222.54 $ 43,831.12 $ 167,226.16
305 5/1/2035 $ 43,831.12 $ 899.33 $ - $ 899.33 $ 680.17 $ 219.16 $ 43,150.95 $ 167,445.32
306 6/1/2035 $ 43,150.95 $ 899.33 $ - $ 899.33 $ 683.57 $ 215.75 $ 42,467.38 $ 167,661.07
307 7/1/2035 $ 42,467.38 $ 899.33 $ - $ 899.33 $ 686.99 $ 212.34 $ 41,780.39 $ 167,873.41
308 8/1/2035 $ 41,780.39 $ 899.33 $ - $ 899.33 $ 690.42 $ 208.90 $ 41,089.97 $ 168,082.31
309 9/1/2035 $ 41,089.97 $ 899.33 $ - $ 899.33 $ 693.88 $ 205.45 $ 40,396.09 $ 168,287.76
310 10/1/2035 $ 40,396.09 $ 899.33 $ - $ 899.33 $ 697.35 $ 201.98 $ 39,698.75 $ 168,489.74
311 11/1/2035 $ 39,698.75 $ 899.33 $ - $ 899.33 $ 700.83 $ 198.49 $ 38,997.91 $ 168,688.23
312 12/1/2035 $ 38,997.91 $ 899.33 $ - $ 899.33 $ 704.34 $ 194.99 $ 38,293.58 $ 168,883.22
313 1/1/2036 $ 38,293.58 $ 899.33 $ - $ 899.33 $ 707.86 $ 191.47 $ 37,585.72 $ 169,074.69
314 2/1/2036 $ 37,585.72 $ 899.33 $ - $ 899.33 $ 711.40 $ 187.93 $ 36,874.32 $ 169,262.62
315 3/1/2036 $ 36,874.32 $ 899.33 $ - $ 899.33 $ 714.95 $ 184.37 $ 36,159.37 $ 169,446.99
316 4/1/2036 $ 36,159.37 $ 899.33 $ - $ 899.33 $ 718.53 $ 180.80 $ 35,440.84 $ 169,627.79
317 5/1/2036 $ 35,440.84 $ 899.33 $ - $ 899.33 $ 722.12 $ 177.20 $ 34,718.72 $ 169,804.99
318 6/1/2036 $ 34,718.72 $ 899.33 $ - $ 899.33 $ 725.73 $ 173.59 $ 33,992.99 $ 169,978.59
319 7/1/2036 $ 33,992.99 $ 899.33 $ - $ 899.33 $ 729.36 $ 169.96 $ 33,263.62 $ 170,148.55
320 8/1/2036 $ 33,263.62 $ 899.33 $ - $ 899.33 $ 733.01 $ 166.32 $ 32,530.62 $ 170,314.87
321 9/1/2036 $ 32,530.62 $ 899.33 $ - $ 899.33 $ 736.67 $ 162.65 $ 31,793.94 $ 170,477.52
322 10/1/2036 $ 31,793.94 $ 899.33 $ - $ 899.33 $ 740.36 $ 158.97 $ 31,053.59 $ 170,636.49
323 11/1/2036 $ 31,053.59 $ 899.33 $ - $ 899.33 $ 744.06 $ 155.27 $ 30,309.53 $ 170,791.76
324 12/1/2036 $ 30,309.53 $ 899.33 $ - $ 899.33 $ 747.78 $ 151.55 $ 29,561.75 $ 170,943.31
325 1/1/2037 $ 29,561.75 $ 899.33 $ - $ 899.33 $ 751.52 $ 147.81 $ 28,810.24 $ 171,091.12
326 2/1/2037 $ 28,810.24 $ 899.33 $ - $ 899.33 $ 755.27 $ 144.05 $ 28,054.96 $ 171,235.17
327 3/1/2037 $ 28,054.96 $ 899.33 $ - $ 899.33 $ 759.05 $ 140.27 $ 27,295.91 $ 171,375.44
328 4/1/2037 $ 27,295.91 $ 899.33 $ - $ 899.33 $ 762.85 $ 136.48 $ 26,533.06 $ 171,511.92
329 5/1/2037 $ 26,533.06 $ 899.33 $ - $ 899.33 $ 766.66 $ 132.67 $ 25,766.40 $ 171,644.59
 Pmt. Payment Date Beginning Balance Scheduled Extra Payment Total Payment Principal Interest Ending Balance Cumulative Interest
No. Payment

330 6/1/2037 $ 25,766.40 $ 899.33 $ - $ 899.33 $ 770.49 $ 128.83 $ 24,995.91 $ 171,773.42

331 7/1/2037 $ 24,995.91 $ 899.33 $ - $ 899.33 $ 774.35 $ 124.98 $ 24,221.56 $ 171,898.40
332 8/1/2037 $ 24,221.56 $ 899.33 $ - $ 899.33 $ 778.22 $ 121.11 $ 23,443.35 $ 172,019.51
333 9/1/2037 $ 23,443.35 $ 899.33 $ - $ 899.33 $ 782.11 $ 117.22 $ 22,661.24 $ 172,136.72
334 10/1/2037 $ 22,661.24 $ 899.33 $ - $ 899.33 $ 786.02 $ 113.31 $ 21,875.22 $ 172,250.03
335 11/1/2037 $ 21,875.22 $ 899.33 $ - $ 899.33 $ 789.95 $ 109.38 $ 21,085.27 $ 172,359.41
336 12/1/2037 $ 21,085.27 $ 899.33 $ - $ 899.33 $ 793.90 $ 105.43 $ 20,291.37 $ 172,464.83
337 1/1/2038 $ 20,291.37 $ 899.33 $ - $ 899.33 $ 797.87 $ 101.46 $ 19,493.50 $ 172,566.29
338 2/1/2038 $ 19,493.50 $ 899.33 $ - $ 899.33 $ 801.86 $ 97.47 $ 18,691.64 $ 172,663.76
339 3/1/2038 $ 18,691.64 $ 899.33 $ - $ 899.33 $ 805.87 $ 93.46 $ 17,885.77 $ 172,757.21
340 4/1/2038 $ 17,885.77 $ 899.33 $ - $ 899.33 $ 809.90 $ 89.43 $ 17,075.88 $ 172,846.64
341 5/1/2038 $ 17,075.88 $ 899.33 $ - $ 899.33 $ 813.95 $ 85.38 $ 16,261.93 $ 172,932.02
342 6/1/2038 $ 16,261.93 $ 899.33 $ - $ 899.33 $ 818.02 $ 81.31 $ 15,443.91 $ 173,013.33
343 7/1/2038 $ 15,443.91 $ 899.33 $ - $ 899.33 $ 822.11 $ 77.22 $ 14,621.81 $ 173,090.55
344 8/1/2038 $ 14,621.81 $ 899.33 $ - $ 899.33 $ 826.22 $ 73.11 $ 13,795.59 $ 173,163.66
345 9/1/2038 $ 13,795.59 $ 899.33 $ - $ 899.33 $ 830.35 $ 68.98 $ 12,965.24 $ 173,232.64
346 10/1/2038 $ 12,965.24 $ 899.33 $ - $ 899.33 $ 834.50 $ 64.83 $ 12,130.74 $ 173,297.47
347 11/1/2038 $ 12,130.74 $ 899.33 $ - $ 899.33 $ 838.67 $ 60.65 $ 11,292.07 $ 173,358.12
348 12/1/2038 $ 11,292.07 $ 899.33 $ - $ 899.33 $ 842.87 $ 56.46 $ 10,449.21 $ 173,414.58
349 1/1/2039 $ 10,449.21 $ 899.33 $ - $ 899.33 $ 847.08 $ 52.25 $ 9,602.13 $ 173,466.83
350 2/1/2039 $ 9,602.13 $ 899.33 $ - $ 899.33 $ 851.32 $ 48.01 $ 8,750.81 $ 173,514.84
351 3/1/2039 $ 8,750.81 $ 899.33 $ - $ 899.33 $ 855.57 $ 43.75 $ 7,895.24 $ 173,558.59
352 4/1/2039 $ 7,895.24 $ 899.33 $ - $ 899.33 $ 859.85 $ 39.48 $ 7,035.39 $ 173,598.07
353 5/1/2039 $ 7,035.39 $ 899.33 $ - $ 899.33 $ 864.15 $ 35.18 $ 6,171.24 $ 173,633.24
354 6/1/2039 $ 6,171.24 $ 899.33 $ - $ 899.33 $ 868.47 $ 30.86 $ 5,302.77 $ 173,664.10
355 7/1/2039 $ 5,302.77 $ 899.33 $ - $ 899.33 $ 872.81 $ 26.51 $ 4,429.96 $ 173,690.61
356 8/1/2039 $ 4,429.96 $ 899.33 $ - $ 899.33 $ 877.18 $ 22.15 $ 3,552.78 $ 173,712.76
357 9/1/2039 $ 3,552.78 $ 899.33 $ - $ 899.33 $ 881.56 $ 17.76 $ 2,671.22 $ 173,730.53
358 10/1/2039 $ 2,671.22 $ 899.33 $ - $ 899.33 $ 885.97 $ 13.36 $ 1,785.25 $ 173,743.88
359 11/1/2039 $ 1,785.25 $ 899.33 $ - $ 899.33 $ 890.40 $ 8.93 $ 894.85 $ 173,752.81
360 12/1/2039 $ 894.85 $ 899.33 $ - $ 894.85 $ 890.38 $ 4.47 $ - $ 173,757.28
361 1/1/2040 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
362 2/1/2040 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
363 3/1/2040 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
364 4/1/2040 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
365 5/1/2040 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
366 6/1/2040 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
367 7/1/2040 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
368 8/1/2040 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
369 9/1/2040 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
370 10/1/2040 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
371 11/1/2040 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
372 12/1/2040 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
373 1/1/2041 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
374 2/1/2041 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
375 3/1/2041 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
376 4/1/2041 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
377 5/1/2041 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
378 6/1/2041 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
 Pmt. Payment Date Beginning Balance Scheduled Extra Payment Total Payment Principal Interest Ending Balance Cumulative Interest
No. Payment

379 7/1/2041 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28

380 8/1/2041 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
381 9/1/2041 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
382 10/1/2041 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
383 11/1/2041 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
384 12/1/2041 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
385 1/1/2042 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
386 2/1/2042 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
387 3/1/2042 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
388 4/1/2042 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
389 5/1/2042 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
390 6/1/2042 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
391 7/1/2042 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
392 8/1/2042 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
393 9/1/2042 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
394 10/1/2042 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
395 11/1/2042 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
396 12/1/2042 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
397 1/1/2043 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
398 2/1/2043 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
399 3/1/2043 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
400 4/1/2043 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
401 5/1/2043 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
402 6/1/2043 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
403 7/1/2043 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
404 8/1/2043 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
405 9/1/2043 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
406 10/1/2043 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
407 11/1/2043 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
408 12/1/2043 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
409 1/1/2044 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
410 2/1/2044 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
411 3/1/2044 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
412 4/1/2044 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
413 5/1/2044 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
414 6/1/2044 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
415 7/1/2044 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
416 8/1/2044 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
417 9/1/2044 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
418 10/1/2044 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
419 11/1/2044 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
420 12/1/2044 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
421 1/1/2045 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
422 2/1/2045 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
423 3/1/2045 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
424 4/1/2045 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
425 5/1/2045 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
426 6/1/2045 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
427 7/1/2045 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
 Pmt. Payment Date Beginning Balance Scheduled Extra Payment Total Payment Principal Interest Ending Balance Cumulative Interest
No. Payment

428 8/1/2045 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28

429 9/1/2045 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
430 10/1/2045 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
431 11/1/2045 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
432 12/1/2045 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
433 1/1/2046 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
434 2/1/2046 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
435 3/1/2046 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
436 4/1/2046 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
437 5/1/2046 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
438 6/1/2046 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
439 7/1/2046 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
440 8/1/2046 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
441 9/1/2046 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
442 10/1/2046 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
443 11/1/2046 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
444 12/1/2046 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
445 1/1/2047 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
446 2/1/2047 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
447 3/1/2047 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
448 4/1/2047 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
449 5/1/2047 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
450 6/1/2047 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
451 7/1/2047 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
452 8/1/2047 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
453 9/1/2047 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
454 10/1/2047 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
455 11/1/2047 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
456 12/1/2047 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
457 1/1/2048 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
458 2/1/2048 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
459 3/1/2048 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
460 4/1/2048 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
461 5/1/2048 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
462 6/1/2048 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
463 7/1/2048 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
464 8/1/2048 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
465 9/1/2048 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
466 10/1/2048 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
467 11/1/2048 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
468 12/1/2048 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
469 1/1/2049 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
470 2/1/2049 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
471 3/1/2049 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
472 4/1/2049 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
473 5/1/2049 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
474 6/1/2049 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
475 7/1/2049 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
476 8/1/2049 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
 Pmt. Payment Date Beginning Balance Scheduled Extra Payment Total Payment Principal Interest Ending Balance Cumulative Interest
No. Payment

477 9/1/2049 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28

478 10/1/2049 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
479 11/1/2049 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
480 12/1/2049 $ - $ 899.33 $ - $ - $ - $ - $ - $ 173,757.28
CAP RATE AND GIM
SALES 1,200,000.00 Cap Rate 0.00%
CAP RATE Value #DIV/0!
NOI GIM 8.333333
EGI 144000
 Reconstructed Operating Statement

PGI Potential Gross Income 180000

- VC Vacancy and Collection Losses 18000
+ MI Miscellaneous Income (or reimbursements) 0
= EGI Effective Gross Income 162000
- OE Operating Expenses 64800
- CAPX Capital Expenditures 8100
= NOI Net Operating Income 89100
Bexar County 2009
City of San Antonio 2009

APPRAIASED VALUE $100,000

Entity Description Tax Rate Appraised Value

6 BEXAR CO RD & FLOOD 0.037467 $100,000
8 SA RIVER AUTH 0.015951 $100,000
9 ALAMO COM COLLEGE 0.135855 $100,000
10 UNIV HEALTH SYSTEM 0.261022 $100,000
11 BEXAR COUNTY 0.289399 $100,000
21 CITY OF SAN ANTONIO 0.567140 $100,000
55 NORTH EAST ISD 1.402900 $100,000
CAD BEXAR APPRAISAL DISTRICT 0.000000 $100,000
Total Tax Rate: 2.709734 $100,000

In order to receive the homestead exemption from the school district, the property must be designated as your homestead fo
If the investment property will not be designated as your homestead, then use the "Taxes w/o Exemptions amount".

Note, that this model has only taken into account a decreased in assessed value for the homestead exemption allowed for sch
 Taxable Value Estimated Tax
$100,000.00 $37.47
$100,000.00 $15.95
$100,000.00 $135.86
$100,000.00 $261.02
$100,000.00 $289.40
$100,000.00 $567.14
$85,000.00 $1,192.47
$100,000.00 $0.00
$100,000.00 $2,709.73
Taxes w/Current Exemptions: $2,499.30
Taxes w/o Exemptions: $2,709.73

ct, the property must be designated as your homestead for tax purposes (this is different from the constitutional and statutory homestead
d, then use the "Taxes w/o Exemptions amount".

essed value for the homestead exemption allowed for school taxes.
onal and statutory homestead protection)
This assumes an investment over $100,000. For any sales price less than $100,000, see the Texas Title M
For Policies Between 100,001 - 1,000,000
Sales Price $120,000
Title Premium $949.80 BE SURE TO ROUND UP OR DOWN!!!
Present Value $10,000.00 This is also called the deposit
Interest 5.00%
Year Amount Interest Ending Amount CALCULATOR FUNCTIONS
0 -$10,000.00 $0.00 -$10,000.00 N
1 $10,000.00 $500.00 $10,500.00 I
2 $10,500.00 $525.00 $11,025.00 PV
3 $11,025.00 $551.25 $11,576.25 PMT
4 $11,576.25 $578.81 $12,155.06 FV
5 $12,155.06 $607.75 $12,762.82
6 $12,762.82 $638.14 $13,400.96
7 $13,400.96 $670.05 $14,071.00 Amount
8 $14,071.00 $703.55 $14,774.55 Interest
9 $14,774.55 $738.73 $15,513.28
10 $15,513.28 $775.66 $16,288.95

Future Value $16,288.95 This is also called the ending amount

When determining how much I needed to begin investment on the day my daughter was born
to cover her future tuition payments, the financial advisor (that I used at the time) ran a model
stating I would need to invest $250 per month for 216 months to obtain my expected future value.

Note: The text suggests rounding the numbers to the nearest whole number. I have left the decimals
in my examples and have chosen to round up to the nearest whole number. This is something that can
be easily changed in Excel by formatting the cells to display whole numbers only.
CALCULATOR FUNCTIONS

100
10.00%
161.051
RATE I 0.05
NPER N 5
PMT PMT 100
PV PV 0
FV FV ($504.18)
ANNUAL ANNUITY
Present Value $100.00 This is also called the deposit
Payments $0.00 Annually
Interest 10.00%
Year Beginning Amount Deposit Interest Ending Amount
0 -$100.00 $0.00 $0.00 $100.00
1 $100.00 $0.00 $0.00 $100.00
2 $100.00 $0.00 $10.00 $110.00
3 $110.00 $0.00 $11.00 $121.00
4 $121.00 $0.00 $12.10 $133.10
5 $133.10 $0.00 $13.31 $146.41
6 $146.41 $0.00 $14.64 $161.05
7 $161.05 $0.00 $16.11 $177.16
8 $177.16 $0.00 $17.72 $194.87
9 $194.87 $0.00 $19.49 $214.36
10 $214.36 $10.00 $21.44 $245.79

Future Value $245.79 This is also called the ending amount

MONTHLY ANNUITY
Present Value $0.00 This is also called the deposit
Payments $166.67 Monthly
Interest 5.00% 0.42%
Month Beginning Amount Deposit Interest Ending Amount
0 $0.00 $0.00 $0.00 $0.00
1 $0.00 $166.67 $0.00 $166.67
2 $166.67 $166.67 $0.69 $334.03
3 $334.03 $166.67 $1.39 $502.10
4 $502.10 $166.67 $2.09 $670.86
5 $670.86 $166.67 $2.80 $840.32
6 $840.32 $166.67 $3.50 $1,010.49
7 $1,010.49 $166.67 $4.21 $1,181.38
8 $1,181.38 $166.67 $4.92 $1,352.97
9 $1,352.97 $166.67 $5.64 $1,525.28
10 $1,525.28 $166.67 $6.36 $1,698.30
11 $1,698.30 $166.67 $7.08 $1,872.05
12 $1,872.05 $166.67 $7.80 $2,046.52
13 $2,046.52 $166.67 $8.53 $2,221.71
14 $2,221.71 $166.67 $9.26 $2,397.64
15 $2,397.64 $166.67 $9.99 $2,574.30
16 $2,574.30 $166.67 $10.73 $2,751.70
17 $2,751.70 $166.67 $11.47 $2,929.83
18 $2,929.83 $166.67 $12.21 $3,108.71
19 $3,108.71 $166.67 $12.95 $3,288.33
20 $3,288.33 $166.67 $13.70 $3,468.70
21 $3,468.70 $166.67 $14.45 $3,649.83
22 $3,649.83 $166.67 $15.21 $3,831.71
23 $3,831.71 $166.67 $15.97 $4,014.34
24 $4,014.34 $166.67 $16.73 $4,197.74
25 $4,197.74 $166.67 $17.49 $4,381.90
26 $4,381.90 $166.67 $18.26 $4,566.83
27 $4,566.83 $166.67 $19.03 $4,752.52
28 $4,752.52 $166.67 $19.80 $4,939.00
29 $4,939.00 $166.67 $20.58 $5,126.25
30 $5,126.25 $166.67 $21.36 $5,314.27
31 $5,314.27 $166.67 $22.14 $5,503.09
32 $5,503.09 $166.67 $22.93 $5,692.69
33 $5,692.69 $166.67 $23.72 $5,883.08
34 $5,883.08 $166.67 $24.51 $6,074.26
35 $6,074.26 $166.67 $25.31 $6,266.24
36 $6,266.24 $166.67 $26.11 $6,459.02
37 $6,459.02 $166.67 $26.91 $6,652.60
38 $6,652.60 $166.67 $27.72 $6,846.99
39 $6,846.99 $166.67 $28.53 $7,042.19
 40 $7,042.19 $166.67 $29.34 $7,238.20
41 $7,238.20 $166.67 $30.16 $7,435.03
42 $7,435.03 $166.67 $30.98 $7,632.68
43 $7,632.68 $166.67 $31.80 $7,831.15
44 $7,831.15 $166.67 $32.63 $8,030.45
45 $8,030.45 $166.67 $33.46 $8,230.58
46 $8,230.58 $166.67 $34.29 $8,431.55
47 $8,431.55 $166.67 $35.13 $8,633.35
48 $8,633.35 $166.67 $35.97 $8,835.99
49 $8,835.99 $166.67 $36.82 $9,039.48
50 $9,039.48 $166.67 $37.66 $9,243.81
51 $9,243.81 $166.67 $38.52 $9,449.00
52 $9,449.00 $166.67 $39.37 $9,655.04
53 $9,655.04 $166.67 $40.23 $9,861.94
54 $9,861.94 $166.67 $41.09 $10,069.70
55 $10,069.70 $166.67 $41.96 $10,278.33
56 $10,278.33 $166.67 $42.83 $10,487.82
57 $10,487.82 $166.67 $43.70 $10,698.19
58 $10,698.19 $166.67 $44.58 $10,909.44
59 $10,909.44 $166.67 $45.46 $11,121.56
60 $11,121.56 $166.67 $46.34 $11,334.57

Future Value $11,334.57 This is also called the ending amount

DISCOUNT CASH FLOW ANALYSIS (DCF)

Time 10 Time CF DR DCF

CF $0.00 10 500,000 2.5937425 192,772
Opportunity Cost 10.00%
DR
PMT 0
FV $500,000.00
PV 192,772
DISCOUNT CASH FLOW ANALYSIS (DCF)
Time CF DR DCF
0 0 1 0
1 12,000 1.1 10,909
2 12,000 1.21 9,917
3 12,000 1.331 9,016
4 12,000 1.4641 8,196
5 12,000 1.61051 7,451
6 12,000 1.771561 6,774
7 12,000 1.9487171 6,158
8 12,000 2.1435888 5,598
9 12,000 2.3579477 5,089
10 512,000 2.5937425 197,398
266,506