![]() ![]() You can structure a loan, just the way you want it.īalloon Amortization Schedule with Extra Payments If that's what you wanted to know - what the balloon payment amount will be for a loan, then you're finished.īut with this calculator, it's possible to do more. Step 2: Now to calculate the balloon payment amount, with the balloon due after six years, set the calculator as follows: Amount of Loan?:Ĭlick "Calc," and this is the balloon that will be due in the final month of the sixth year if the debtor makes payments based on an assumed term of 30 years: Final/Balloon Payment (can be 0)?:Īmortization schedule showing final balloon payment. (The final payment gets rounded by less than $2.00 or less than $0.01 per each regular payment.) Periodic Payment?: $737 is the "regular" payment amount for a 30-year loan. That is the final payment will not be a balloon payment.Ĭlick "Calc" and here are the results. ![]() When you enter "0" for both "Periodic Payment" and "Final/Balloon Payment," you are setting up the calculator to calculate a level payment for the entire term of the loan. You want the monthly payment calculated based on a 30-year loan, but you'll pay the balance after 72 months. If you do not know the amount of the regular loan payment, then we must calculate it before we can calculate the final balloon amount.Įxample: Assume you are considering a mortgage for $146,500. ![]() See "Doing the Two-Step" belowĪs mentioned, a balloon loan is a loan that has its regular periodic payment calculated using one term (say 30 years) when the last payment is due sooner (say in 7 years).
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