The term of a balloon mortgage is usually short (e.g., 5 years), but the payment amount is amortized over a longer term (e.g., 30 years). An advantage of these loans is that they often have a lower interest rate, but the final balloon payment is substantial. This calculator computes the payment amount necessary for a mortgage with a balloon payment, using monthly interest compounding and monthly payments.
Home price
Down payment amount
%$
Amortized over
MonthsYears
Balloon payment after
Interest rate
Show payment schedule
Your monthly payment amount will be $1,524.56.
Your balloon payment amount will be $230,136.28.
$350,000.00
20.000 %
Total amount financed
$280,000.00
Payment amount
$1,524.56
Balloon payment
$230,136.28
Total payments
$181,422.64
5.125 %
Total interest
$131,558.92
Calculator disclaimer
The information provided by these calculators is intended for illustrative purposes only and is not intended to purport actual user-defined parameters. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results.
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