Balloon payment calculator

A balloon loan can be an excellent option for many borrowers. A balloon loan is usually rather short, with a term of three to five years. At the end of your loan term, you will need to pay off your outstanding balance. This usually means you must refinance your loan or convert the balloon loan to a traditional loan at the current interest rates.

Formula

  • Your 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)))

Works best for

This loan calculator computes your monthly payment and the final balloon payment due on a balloon loan.

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