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Example Mortgage payments record form for 1 year. ( June payment. See next page. Link at bottom of page)

Borrower name Date of loan Amount of loan Property address City State, Zip Phone
John Doe  08 /01 /99  $45,000 123 1st Ave N Boontown FL 33811 123-123-1234
Social security # When late Interest rate Interest rate /12 Late charge Monthly payment Year
123-45-6789 ..10.days 12% 1% $.23.14 462.88 2000
1 2 3 4 5 6 7 8 9
Due date Due amount Received date Principal of loan Received amount Late charge deducted Interest To Principal New Principal
 1 / 1 462.88   1/6  44,947.70 462.88   449.48 13.40 44,934.30
 2 /1 462.88  2 /10 44,934.30 462.88   449.34 13.54 44,920.76
  3/1 462.88   3/5 44,920.76 500.00   449.21 50.79 44,869.97
  4/1 462.88   4/12 44,869.97 462.88 23.14 448.70 -8.96 44,878.93
   5/1 486.02    5 /8 44,878.93 469.00   448.79 20.21 44,858.72
   6/1 462.88     6/4 44,858.72 400.00   448.59 -48.59 44,907.31
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      TOTALS          

Notice the borrower only paid $400.00 which is less than the interest due. The difference is added to the principal of the loan.  One could probably add the late charge as the full payment was not received, but we did not do so here.

To allocate the rest of the payment you need to know the yearly interest rate divided by 12. (This is the monthly rate, example 10 % per year = 0.83% per month). 

Multiply the principal outstanding (column 4) by the monthly interest rate and you get the amount to apply to interest, write this in column 7. 

The rest of the payment is applied to principal. Write this in column 8. 

Subtract the amount applied to principal from the principal in column 4 to get the new principal and write it in column 9.

Write the amount from column 9 into column 4 of the next row down.

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[Bookkeeping and tax returns] [Blank form for one year.] [January example] [February example.] [March example] [April example.] [May example.] [June example.] [July example.] [August example.] [September example.] [November example. Borrower skipped October.] [December example.] [Manage mortgage payments Spreadsheet]

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