Balloon payment calculator

Our Balloon loan calculator is an online widget built to estimate monthly payments of the balloon loan. It’s a handy tool, which helps the borrowers to evaluate their potential considering taking a balloon loan.

Balloon loan formula

Monthly Payment = ((Loan Amount - Initial Deposit) - Balloon Payment at the End /(1 + Interest Rate (%)/100/12)^ Months)*(Interest Rate (%)/100/12/(1-(1 + Interest Rate (%)/100/12)^(- Months)))

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Everything You Need to Know About Balloon loan

A balloon loan is a type of loan that doesn't wholly amortize over the period of the loan term. Loan terms for balloon loans typically varies between 5-7 years. Then it’s followed by the remainder of the balance (also known as the balloon payment).

The balloon loan is similar to a fixed 30 years home loan, where you have to pay monthly payments within a certain period of time, yet the loan term is much shorter. Though 30 years seems forever, you’re free to go after that. It’s a bit different story, when talking about balloon loans. As in this case- there’s no way out - you are obliged to pay the rest of the loan in one fell swoop, as soon as the loan term is over.

What is it for?

Our Balloon loan calculator is a time saver to companies specialized in the areas of business finance, real estate, construction or car sale. It provides the direct assistance to your potential clients. Because of its interactivity, Balloon loan calculator engages your audience on your website Moreover, it helps to make well measured decision.

Examples of Balloon payment calculator use

Sometimes, when we’re deeply into one topic for very long time, it seems that all is very clear with this thing. Well, loans and finances always should be exceptions in this matter of thinking. Most of the time, loans are the real pain in the neck. They require people to take very serious commitments, evaluate their capabilities and count, count, count for hours. There are numerous of situations where Balloon loan calculator would save the day, but here are some of the most common:

How does it work?

It’s an online widget. It means that in order to use it, you would have to embed it into your website. Once you’ve done that, you’re all set.

Balloon loan calculator is like a chameleon, which adapts to any conditions.  You can personalize the Balloon loan calculator, so it would completely meet the specifics of your business. This could be achieved by unlimited options of adding and/or removing input elements and modifying the calculation formula. Our basic version of the Balloon loan calculator lets you set loan amount, interest rate, term, size of initial deposit, balloon payment. If you find some of these options unnecessary or maybe you’re missing some of them-let’s say a change of repayment frequency orset of time until balloon payment etc., you can add or remove it just with a few clicks.

Also, you can fully adjust the appearance of the Balloon loan calculator. Customize design, color and text to make it look consistent with your website style. It is completely compatible with all modern browsers, and totally responsive - works smoothly on any device whether it’s a smartphone, a tablet or a desktop computer.

Benefits of having Balloon loan calculator on your website

Benefits to your business:

Benefits to your customers:

Balloon loan calculator is just a single pick from our infinite selection of calculators, acknowledged tools in improving the quality of your customer service. With CALCONIC you can create any interactive calculator you can think of! For instance, you can build a calculator that will allow your potential customer to figure the maximum he can borrow if his monthly payment capability is $300 and a loan term is 5 years. Or calculate, what size of customers balloon payment will be at the end, if he borrows $100,000 for 5 years and he can pay not much than $400 per month.

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