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Balloon Loan Calculator

A balloon loan can be an excellent option for many borrowers. A balloon loan is usually rather short, with a term of three to five years, but the payment is based on a term of up to 15 years. There is, however, a risk to consider. At the end of your loan term, you will need to pay off your outstanding balance. This usually means you must refinance your loan or convert the balloon loan to a traditional loan at the current interest rates.

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For more information about these financial calculators please visit: Dinkytown.net Financial Calculators from KJE Computer Solutions, Inc.

By changing any value in the following form fields, calculated values are immediately provided for displayed output values. Click the view report button to see all of your results.

Financial Calculators from
Dinkytown.net

Balloon Loan Calculator

*indicates required.

Balloon loan inputs

Calculate:

Calculate

Payment

Loan Amount

Monthly payment:*This entry is required.Enter an amount between $10.00 and $100,000.00

Loan amount:*This entry is required.Enter an amount between $100 and $100,000,000

Interest rate:*This entry is required.Enter an amount between 0% and 25%

Loan term (balloon period):*This entry is required.

Amortization period:*This entry is required.

Total interest paid:

Total regular payments:

Balloon payment:

**FIG_GRAPHTITLE** Column Graph: Please use the calculator's report to see detailed calculation results in tabular form.

Balances for a KJE1 loan

Definitions

Loan amount

Original or expected balance for your loan.

Interest rate

Annual interest rate for this loan.

Loan term in years (balloon period)

The time period after which you must refinance or pay off your loan. The most common balloon loan terms are 3 years and 5 years. After the loan term is complete, you will then need to refinance or pay off the remaining balance.

Amortization period

The number of years over which your loan payment is calculated.

Monthly payment

Monthly principal and interest payment (PI). The monthly payment is calculated using the number of payments in the selected amortization period.

Total payments

Total of all monthly payments over the term of the balloon loan. This total payment amount assumes that there are no prepayments of principal.

Total interest

Total of all interest paid over the term of the balloon loan. This total interest amount assumes that there are no prepayments of principal.

Healthcare Employees Federal Credit Union
29 Emmons Drive Suite C-40
Princeton, NJ 08540

Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.