Balloon Loan Payment Calculator with Amortization Schedule and Optional Prepayment

Balloon Loan Payment Calculator Sign

This calculator will calculate the monthly payments, the interest cost, and the 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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Balloon Loan Payment Calculator

Calculate balloon loan payment with amortization schedule and optional prepayment.

Special Instructions

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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 online 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.

Help and Tools


What a balloon payment is along with its main advantages and disadvantages.

What is a Balloon Payment?

A balloon payment is an amount due after a balloon loan's specified number of years have passed.

A balloon loan is usually stated in a "pre-balloon-years/payment-based-on-years" format.

For example, if a balloon loan's payment is based on a 30-year payback period, and the balance is due after 3 years, that would be considered a "3/30" balloon loan.

This would mean that the payment amount would be calculated as if the loan were going to be paid back over a 30-year period -- which essentially lowers the payment for the pre-balloon period.

Then, after the 3-year pre-balloon period is up, the balance of the loan must either be paid off or converted into another loan.

Why a Balloon Loan?

The primary reasons you might consider choosing a balloon loan over a conventional loan, are because:

  • Balloon loans tend to be easier to qualify for.
  • Balloon loans typically come with lower interest rates.

Why Not a Balloon Loan?

The downside is that you risk being forced into a higher interest rate loan if you can't pay the balance when it comes due.

If a further explanation is needed, please let me know in the feedback form located beneath the calculator.

Adjust Calculator Width:

Move the slider to left and right to adjust the calculator width. Note that the Help and Tools panel will be hidden when the calculator is too wide to fit both on the screen. Moving the slider to the left will bring the instructions and tools panel back into view.

Also note that some calculators will reformat to accommodate the screen size as you make the calculator wider or narrower. If the calculator is narrow, columns of entry rows will be converted to a vertical entry form, whereas a wider calculator will display columns of entry rows, and the entry fields will be smaller in size ... since they will not need to be "thumb friendly".

Show/Hide Popup Keypads:

Select Show or Hide to show or hide the popup keypad icons located next to numeric entry fields. These are generally only needed for mobile devices that don't have decimal points in their numeric keypads. So if you are on a desktop, you may find the calculator to be more user-friendly and less cluttered without them.

Stick/Unstick Tools:

Select Stick or Unstick to stick or unstick the help and tools panel. Selecting "Stick" will keep the panel in view while scrolling the calculator vertically. If you find that annoying, select "Unstick" to keep the panel in a stationary position.

If the tools panel becomes "Unstuck" on its own, try clicking "Unstick" and then "Stick" to re-stick the panel.