Balloon Mortgage Calculator
A balloon mortgage has lower monthly payments but requires a large lump-sum payment at the end. Calculate your monthly payments, total interest, and the balloon payment amount. Compare the total cost against a standard mortgage to see if the trade-off is worth it.
Inputs
$
%
When the balloon payment is due
Payment schedule based on this longer term
Results
Monthly Payment
$1,896
Balloon Payment
$271,249
Due at end of year 7
Total Interest
$130,530
Total Cost
$430,530
Payment Breakdown
Remaining Balance
Payment Schedule
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 12 | $1,896.20 | $287.81 | $1,608.40 | $296,646.82 |
| 24 | $1,896.20 | $307.08 | $1,589.12 | $293,069.08 |
| 36 | $1,896.20 | $327.65 | $1,568.55 | $289,251.73 |
| 48 | $1,896.20 | $349.59 | $1,546.61 | $285,178.72 |
| 60 | $1,896.20 | $373.01 | $1,523.20 | $280,832.93 |
| 72 | $1,896.20 | $397.99 | $1,498.22 | $276,196.10 |
| 84 | $1,896.20 | $424.64 | $1,471.56 | $271,248.73 |
Frequently Asked Questions
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