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Balloon Loan Payment Calculator with Amortization Schedule

Calculator Preferences
Balloon Loan Payment Calculator Sign
Balloon Loan Payment Calculator

This calculator will calculate the monthly payment, interest cost, and balance due on any combination of balloon loan terms -- plus give you the option of including a printable amortization schedule with the results. The Learn tab includes:

  • What balloon payments are.
  • Advantages and disadvantages of balloon loans.
Learn More

Selected Data Record:

A Data Record is a set of calculator entries that are stored in your web browser's Local Storage. If a Data Record is currently selected in the "Data" tab, this line will list the name you gave to that data record. If no data record is selected, or you have no entries stored for this calculator, the line will display "None".

DataData recordData recordSelected data record: None
Loan amt:Loan amount:Loan amount:Loan amount:

Loan amount:

Enter the amount of the balloon loan (without dollar sign and commas), otherwise referred to as the Principal.

Rate:Interest rate:Annual interest rate:Annual interest rate:

Annual interest rate:

Enter the annual interest rate you will be charged during the pre-balloon payment period. Enter as a percentage but without the percent sign (for .06 or 6%, enter 6).

Pmt freq:Pmt interval:Payment interval:Payment interval:

Payment interval:

Select the frequency of the payment you want to calculate an amount for. Note that if you select a non-monthly payment interval, you then must enter the Term of balloon period in years (number of months option will be unavailable).

Pmt years:Payment years:Years payment is based on:Number of years payment is based on:

Number of years payment is based on:

Enter the number of years the payment will be based on (typically 30 years).

Term of balloon period:

Term of balloon period:

Enter the number of years or months between now and when the balloon payment will come due (normally from 1 to 10 years). If the select box is grayed out, you must enter the term in number of years (months option is not available).

Extra pmt:Extra payment:Optional prepayment:Optional prepayment:

Optional prepayment:

If you would like to apply an additional amount to each payment for paying down the principal during the pre-balloon payment period, enter the amount here. If not, leave the field blank.

Month & year to start payments:

Month and year to start payments:

Select the month and year you plan to make your first payment. The calculator will use the month and year to create an amortization schedule should you choose to have one included in the results.

Schedule?Incl schedule?Include amortization schedule?Include amortization schedule?

Include amortization schedule?

If you would like the results to include an amortization schedule, slide the button to the "Yes" position.

Pmt amt:Payment amount:Payment amount:Payment amount:

Payment amount:

Based on your entries, this is how much your minimum payment will be for the years prior to the balloon payment coming due.

With prepmt:With prepayment:Payment with prepayment:Payment with prepayment:

Payment with prepayment:

This is the total of your minimum payment, plus the prepayment amount (if you chose to enter one). If no prepayment amount was entered, this field will be the same as the payment amount field.

Total pmts:Total payments:Total payments:Total payments:

Total payments:

This is the total of all payments between now and when your balloon payment comes due.

Interest pd:Interest paid:Interest paid:Interest paid:

Interest paid:

This is how much interest you will pay between now and when your balloon payment comes due.

Principal pd:Principal paid:Principal paid:Principal paid:

Principal paid:

This is how much of the principal you will have paid down by the time your balloon payment comes due.

Balloon pmt:Balloon payment:Balloon payment amount:Balloon payment amount:

Balloon payment amount:

This will be the principal balance of your loan when your balloon payment comes due.

If you would like to save the current entries to the secure database, tap or click on the Data tab, select "New Data Record", give the data record a name, then tap or click the Save button. To save changes to previously saved entries, simply tap the Save button. Please select and "Clear" any data records you no longer need.

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Tip

About

About the Balloon Loan Payment Calculator

This calculator will calculate the monthly payments, interest cost, and balloon payment for any combination of balloon loan terms.

Plus, the calculator also includes an option for including a monthly prepayment amount, as well as an option for displaying an amortization schedule with the results.

Finally, the calculator includes a feature for opening the amortization schedule in a printer friendly window so you can print out the schedule for comparative analysis.

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Instructions

How to use the Balloon Loan Payment Calculator

Step #1:

Enter the loan amount.

Step #2:

Enter the annual interest rate of the loan.

Step #3:

Select the payment interval.

Step #4:

Enter the number of years to base the periodic payment amount on.

Step #5:

Enter the term of the pre-balloon period in months or years.

Step #6:

Enter an optional extra amount to add to each payment.

Step #7:

Select the month and year of the first payment.

Step #8:

If you would like the amortization schedule to be included in the results, move the slider to the "Yes" position.

Step #9:

Click the "Calculate Balloon Pmts" button and scroll down to view the results.

Step #10:

If you chose to include the amortization schedule in the results and would like to open a printer friendly report for printing, scroll to the bottom of the schedule and click the "Printer Friendly Schedule" button. This will open the report in its own window for printing.

Saving Entries:

If your web browser supports Local Storage, you can save your entries to your web browser so won't have to start over on your next visit. Please note that your saved entries can only be retrieved from the same device and web browser you were using when you stored them. If you would like to access your saved entries from any device I invite you to subscribe to the Ad-Free Member Version.

To save your entries to your web browser, click or tap the Data tab in the Help and Tools section (mobile: top right of the main screen), select "New Data Record" from the drop-down menu, enter a name for the data record, and then tap or click the Save button.

To load previously saved entries, click or tap the Data tab and select the saved data record from the drop-down menu. You can then save any changes to your entries by simply clicking the Save button while the data record is selected.

To clear a named set of saved entries, click or tap the Data tab, select the saved data record from the drop-down menu, and then tap or click the Clear button.

Numbers and Decimals:

Only numeric characters (0-9 and decimal points) may be entered in numeric fields. Non-numeric characters (dollar signs, percent signs, commas, etc.) may cause calculation errors. If the field includes a grid icon, tapping the icon will open a popup keypad which will include only the characters allowed in the field. If your device keypad does not include a decimal point, use this popup keypad to enter decimal numbers where applicable.

Popup Tool Tips:

Tap the info (i) icons for a further explanation of each entry field (you can click [X] or outside of the pop-up tool tips to close them). A summary of these explanations, along with any additional term explanations, can also be found under the Terms tab.

Disclaimer:

Since I can't test for every possible combination of numbers, please be sure to double-check the results of this calculator yourself before considering them to be valid. If you do discover an issue with the calculated results, please report the issue using the feedback form located below the calculator.

Scrolling & Shrinking:

In order to scroll the calculator vertically you will need to swipe just outside of the calculator's dark-blue border, or use the window's far right-hand scroll bar, whichever is applicable to your device.

If the top section of the calculator becomes to tall for your viewport, tapping in the "Enter a problem..." field should reset the top section to its original height.

Disclaimer:

The Algebra Calculator is the only calculator on the site that I did not create myself. And since I did not create it, I don't have access to the code for fixing any issues you may be experiencing. So if you are having issues with the calculator, please visit the support page at Mathway.com for assistance.

Glossary

Fields, Terms, and Definitions.

Reset button:

Clicking the "Reset" button will restore the calculator to its default settings.

Pocket Calculator

Calculate any amounts needed to enter into calculator.

 

Data Management

Save and retrieve entries and notes (requires HTML5 compliant web browser).

Calculator Data

Calculator Data:

If you are using the latest version of your web browser software, this feature will allow you to save your calculator entries to your web browser's local storage in between visits. This means the calculator entries can only be recalled with the same device and web browser you were using when you saved them. If you'd like to save data between devices you will need to subscribe to the Ad-Free Member Version.

Save: To save a new set of calculator entries, select "New Data Record" from the dropdown list, enter a nickname for the data record, then click the "Save" button.

Load: To load a previously saved set of calculator entries, simply select the name of the data record from the dropdown list.

Save Changes: To save changes to a set of previously saved calculator entries, be sure the name of the data record is selected, and then click the "Save" button.

Clear: To clear a saved set of entries, be sure the name of the data record is selected, and then click the "Clear" button.

Backup Data
My Notes:
Subscribe to the Cloud level of the Ad-Free Member Version to save your entries and notes to a secure online database, allowing you to access your saved entries from any device or web browser.

Sorry! The Save functions are bonus features reserved for those who allow ads to display on the page.

If you would like to use the Save features, please disable ad blocking for this website and refresh the page. Or you can choose to subscribe to the Ad-Free Member Version of the site.

Help and Tools

Help and Tools:

This section, which you can Unstick or Hide in the Calculator Preferences (just above the top of the calculator), contains the following tabs (content too long to fit within bordered frame can be scrolled up and down):

About: Click this tab for an introduction to the calculator.

Instructions: Click this tab for step-by-step instructions for using the calculator.

Terms: Click this tab for a list of the descriptions that are located within each popup help button (info icons).

PCalc: Click this tab for a handy "pocket" calculator you can use when you need to calculate an entry needed for the calculator.

Data: Click this tab to save a set of entries or a note in between visits. Entries and notes will be stored to your web browser's local storage (if supported by your browser of choice), meaning they can only be recalled with the same device and web browser you were using when you saved them. If you'd like to save entries and notes between devices you can do so by subscribing to the Ad-Free Member Version.

 

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