Balloon Mortgage Calculator

A balloon mortgage sets its monthly payment on a thirty year schedule but calls the whole remaining balance due after five or seven years. Enter the loan amount, the rate, the amortisation term and the balloon date and you get the monthly principal and interest, the escrow alongside it, the balloon amount, and how much of the loan has actually been repaid by then. A second action prices that balloon as a new loan at a rate and term you choose, so the two phases can be added together. Nothing here promises the refinance will be available, which is the risk the product carries.

Calculator Type

The monthly payment on the long schedule, and the lump the short term leaves behind.

What you are borrowing, after the deposit.
The schedule the monthly payment is worked out over. Thirty years is usual even when the loan is due in seven.
When the whole remaining balance has to be paid, refinanced or the house sold. Five and seven years are the common ones.
Leave at zero for principal and interest alone.
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Prices the balloon as a new loan at a new rate, and adds the two phases together.

What you are borrowing, after the deposit.
The schedule the monthly payment is worked out over. Thirty years is usual even when the loan is due in seven.
When the whole remaining balance has to be paid, refinanced or the house sold. Five and seven years are the common ones.
The rate you would refinance the balloon at. Nobody knows what it will be, so try it a few points either side of today.
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