Balloon Mortgage Calculator

Estimate Your Monthly Payment, Ending Balloon Payment, Total Interest, and Total Amount Paid Over the Balloon Term.

Amortization Schedule

How This Balloon Mortgage Calculator Works

A balloon mortgage typically requires lower monthly payments for a set period, followed by a large lump-sum payment at the end of the balloon term. This calculator helps you estimate key loan figures based on home price, down payment, interest rate, balloon term, amortization period, monthly payment, or balloon payment amount.

You can use this calculator in three ways:

• I know loan's amortization period – calculate the monthly payment and remaining balloon balance.
• I know monthly payment – estimate the amortization length and ending balloon payment.
• I know loan's balloon payment – calculate the required monthly payment and approximate amortization period.

What Is a Balloon Mortgage?

A balloon mortgage is a home loan that is structured with regular monthly payments for a limited period, but it does not fully amortize by the end of that period. Instead, the borrower must make a final large payment, known as the balloon payment, to pay off the remaining loan balance.

For example, a borrower may have a 30-year amortization schedule with a balloon payment due after 5 or 7 years. This means the monthly payment is based on a longer repayment schedule, but the unpaid balance becomes due much sooner.

References

For official mortgage education and consumer guidance, please review the government resources above.

• Consumer Financial Protection Bureau (CFPB) – Mortgages: https://www.consumerfinance.gov/consumer-tools/mortgages/
• U.S. Department of Housing and Urban Development (HUD) – Homebuying Information: https://www.hud.gov/topics/buying_a_home
• Federal Trade Commission (FTC) – Mortgage and Home Loan Guidance: https://consumer.ftc.gov/