Balloon Mortgage Calculator
The calculator gives you three calculation options: determine the amount of an annuity or determine the amount of the loan or determine the amount of the loan and the balloon amount.
- Enter monthly payment
Enter a monthly payment, an interest rate, an estimate of the years after which the balloon is due and a number of years to calculate the monthly payment (years in which the same monthly payments would pay off the loan). The calculator calculates the amount of the loan, the balloon amount and the amount of interest.
- Entering the loan amount
Enter the amount of the loan, the interest rate, the number of years after which the balloon falls. You get the calculation of the monthly annuity, the balloon amount and the amount of interest.
- Enter the amount of the loan and the balloon amount.
Enter the amount of the loan, the balloon amount, the interest rate and the period for the balloon. You get monthly annuities and the amount of interest.
When you press the “CALCULATE” button you get an Amortization schedule and two charts. The first one shows the distribution of the annuity on interest and the repayment to maturity of the balloon, the other the total of refunds, the return of the balloon and the total of the interest.
One thought on “Benefits and Risks of a Balloon Mortgage”
The right type of mortgage can save you a lot of money and trouble no doubt. Every type of loan has different advantages and that is why I always weigh the pros and cons of any mortgage before taking it just so you don’t have regrets later.