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How much will my payments be for a balloon mortgage?

The term of a balloon mortgage is usually short (e.g., 5 years), but the payment amount is amortized over a longer term (e.g., 30 years). An advantage of these loans is that they often have a lower interest rate, but the final balloon payment is substantial. This calculator computes the payment amount necessary for a mortgage with a balloon payment, using monthly interest compounding and monthly payments.

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Home price

Down payment amount

down payment as a percent or in dollars % $

Amortized over

term in months or years Months Years

Balloon payment after

balloon payment after in months or years Months Years

Interest rate

Show payment schedule

Calculator Results

Your monthly payment amount will be $1,524.56.

Your balloon payment amount will be $230,136.28.

Financial Details

Home price	$350,000.00
Down payment amount	20.000 %
Total amount financed	$280,000.00
Payment amount	$1,524.56
Balloon payment	$230,136.28
Total payments	$181,422.64
Interest rate	5.125 %
Total interest	$131,558.92