Balloon payment mortgage calculator
Estimate the monthly payment on a balloon loan and the lump sum still owed when the balloon comes due.
Balloon Payment
Updates as you type
plan the payoff early
How this is calculated. In plain words.
- 1
Amortizing: the payment is worked out as if the loan ran the full amortization period.
- 2
Interest only: the payment is the loan times the yearly rate, divided by 12, and the balance never falls.
- 3
The balloon is the balance still owed after the number of payments made before it is due.
- 4
Interest paid is the total of payments made minus the principal they repaid.
Plan how you will pay the balloon (sale, refinance or cash) well before it is due, because refinance terms can change. This calculator gives an estimate for planning only. It is not financial, tax or legal advice.
Planning for the last payment.
What is a balloon payment?
A large final payment that pays off whatever is left of a loan on a set date. The monthly payments before it are often based on a longer schedule, so they do not clear the balance in time.
How do people usually pay the balloon?
Most refinance, sell the property or pay from savings. Interest rates and lending rules can change before the balloon is due, so a backup plan matters.
Why would an interest-only balloon make sense?
It keeps payments low during a short hold, such as a rehab or a bridge loan. The tradeoff is that the full loan amount is still owed at the end.
Is the result advice?
No. It is an estimate for planning, using only the numbers you type. Nothing is saved or sent anywhere; the calculation runs in your browser.
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