Balloon Loan Calculator
Estimate your monthly payment and balloon payment for a balloon loan based on the loan amount, interest rate, and loan term.
Calculate Your Balloon Loan Payment
What is a Balloon Loan?
A balloon loan typically involves smaller payments during the loan term, but a large lump-sum payment (the balloon payment) is due at the end of the loan term.
How to Calculate Balloon Loan Payments?
The balloon loan payment is calculated by first determining the monthly payment, and then calculating the remaining balance (balloon payment) at the end of the loan term.
Why Choose a Balloon Loan?
- Lower Monthly Payments: The monthly payments are typically lower compared to a traditional loan.
- Large Final Payment: At the end of the loan term, you will need to make a large payment to pay off the remaining balance.
- Flexible Terms: Balloon loans may have shorter terms, which could be beneficial for certain financial situations.