Changing a Loan's Amortization Type

This guide will help guide you through changing the amortization type the loan was originally set up with. There are many who are curious about how to configure HELOC loans, so we'll walk through that. 

You'll want to go to an interest-only loan (when creating the loan you would have entered '0' for the Amortize row's entry field) that you've set up and go to that loan's summary.
From the loan summary, you'll want to click on the 'Modify Loan' drop-down menu button and click on 'Payment / Amortization'. 

In HELOC loans, the first three months are typically interest-only, so you'll want to click on the 4th pay period and click on the 'Edit' button for that. 

From there you'll want to make sure the Amortized option is selected (selected by default) and since this loan has a total of 12 terms (pay periods), 3 of which are interest-only, we subtract the interest-only periods to get 9, which is what we'll enter as the Amortization amount to get the loan to fully amortize. This is basically telling the system, there are 9 periods left, amortize the remaining principal balance over the remaining pay periods of the loan.
Then make sure to select 'Yes' for the 'Apply these settings to future pay periods?' option. 

Once that all looks good, click the 'Save' button to finalize the switch from Interest-Only for the first three pay periods to Fully Amortized for the remainder of the loan's life. 

The result is the following schedule, no balloon payment.