Financial Calculators

Please remember that email is not secure. Non-public personal and account information such as ACCOUNT and SOCIAL SECURITY NUMBERS should not be sent through email or our contact form.

How much will my payments be for a balloon mortgage?

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.

Your monthly payment amount will be $1,524.56.

Your balloon payment amount will be $230,136.28.

Financial Details

Home price	$350,000.00
Down payment amount	20.000 %
Total amount financed	$280,000.00
Payment amount	$1,524.56
Balloon payment	$230,136.28
Total payments	$181,422.64
Interest rate	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.

Back

	Home price
	Down payment amount	%$
	Amortized over	MonthsYears
	Balloon payment after	MonthsYears
	Interest rate