Balloon Payment Calculator

5/25 and 7/23 convertible balloon mortgages are growing in popularity since they provide lower rates than conventional 30 year mortgages while still giving a fixed payment schedule for 5 or more years. The risk, of course, is what happens after the initial fixed period is over and you have the possibility of converting your loan. This calculator is designed to try to answer those questions.

Calculation Data:
Principal Balance
Type of Loan
Initial Interest %
Monthly Pre-payment during initial fixed period
 
 
The information provided by these calculators is for illustrative purposes only. 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. The calculated results are intended for illustrative purposes only and accuracy is not guaranteed.