Amortization Schedule With Balloon Payment

Amortization Schedule With Balloon Payment is a balloon payment calculator to calculate monthly payment for balloon mortgages. The balloon loan calculator comes with an amortization schedule that shows each of your monthly payment and the final balloon payment.

Balloon Mortgage Calculator
Mortgage Amount		Mortgage Terms	years
Interest Rate		Balloon Payment Due	years
First Payment Date	Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039

Balloon Payment Calculator
Monthly Payment:	$1,411.64
Balloon Payment:	$232,409.51
Total Principal Paid:	$250,000.00
Total Interest Paid:	$65,696.25
Total Payment:	$315,696.25

Balloon Loan Payment Amortization Schedule
Payment Date	Payment #	Interest Paid	Principal Paid	Total Payment	Remaining Balance
Apr, 2025	1	$1,135.42	$276.22	$1,411.64	$249,723.78
May, 2025	2	$1,134.16	$277.48	$1,411.64	$249,446.30
Jun, 2025	3	$1,132.90	$278.74	$1,411.64	$249,167.56
Jul, 2025	4	$1,131.64	$280.00	$1,411.64	$248,887.56
Aug, 2025	5	$1,130.36	$281.28	$1,411.64	$248,606.28
Sep, 2025	6	$1,129.09	$282.55	$1,411.64	$248,323.73
Oct, 2025	7	$1,127.80	$283.84	$1,411.64	$248,039.89
Nov, 2025	8	$1,126.51	$285.13	$1,411.64	$247,754.77
Dec, 2025	9	$1,125.22	$286.42	$1,411.64	$247,468.35
Jan, 2026	10	$1,123.92	$287.72	$1,411.64	$247,180.63
Feb, 2026	11	$1,122.61	$289.03	$1,411.64	$246,891.60
Mar, 2026	12	$1,121.30	$290.34	$1,411.64	$246,601.26
Apr, 2026	13	$1,119.98	$291.66	$1,411.64	$246,309.60
May, 2026	14	$1,118.66	$292.98	$1,411.64	$246,016.62
Jun, 2026	15	$1,117.33	$294.31	$1,411.64	$245,722.30
Jul, 2026	16	$1,115.99	$295.65	$1,411.64	$245,426.65
Aug, 2026	17	$1,114.65	$296.99	$1,411.64	$245,129.66
Sep, 2026	18	$1,113.30	$298.34	$1,411.64	$244,831.31
Oct, 2026	19	$1,111.94	$299.70	$1,411.64	$244,531.62
Nov, 2026	20	$1,110.58	$301.06	$1,411.64	$244,230.56
Dec, 2026	21	$1,109.21	$302.43	$1,411.64	$243,928.13
Jan, 2027	22	$1,107.84	$303.80	$1,411.64	$243,624.33
Feb, 2027	23	$1,106.46	$305.18	$1,411.64	$243,319.15
Mar, 2027	24	$1,105.07	$306.57	$1,411.64	$243,012.59
Apr, 2027	25	$1,103.68	$307.96	$1,411.64	$242,704.63
May, 2027	26	$1,102.28	$309.36	$1,411.64	$242,395.27
Jun, 2027	27	$1,100.88	$310.76	$1,411.64	$242,084.51
Jul, 2027	28	$1,099.47	$312.17	$1,411.64	$241,772.34
Aug, 2027	29	$1,098.05	$313.59	$1,411.64	$241,458.75
Sep, 2027	30	$1,096.63	$315.01	$1,411.64	$241,143.74
Oct, 2027	31	$1,095.19	$316.45	$1,411.64	$240,827.29
Nov, 2027	32	$1,093.76	$317.88	$1,411.64	$240,509.41
Dec, 2027	33	$1,092.31	$319.33	$1,411.64	$240,190.08
Jan, 2028	34	$1,090.86	$320.78	$1,411.64	$239,869.30
Feb, 2028	35	$1,089.41	$322.23	$1,411.64	$239,547.07
Mar, 2028	36	$1,087.94	$323.70	$1,411.64	$239,223.37
Apr, 2028	37	$1,086.47	$325.17	$1,411.64	$238,898.21
May, 2028	38	$1,085.00	$326.64	$1,411.64	$238,571.56
Jun, 2028	39	$1,083.51	$328.13	$1,411.64	$238,243.44
Jul, 2028	40	$1,082.02	$329.62	$1,411.64	$237,913.82
Aug, 2028	41	$1,080.53	$331.11	$1,411.64	$237,582.70
Sep, 2028	42	$1,079.02	$332.62	$1,411.64	$237,250.09
Oct, 2028	43	$1,077.51	$334.13	$1,411.64	$236,915.96
Nov, 2028	44	$1,075.99	$335.65	$1,411.64	$236,580.31
Dec, 2028	45	$1,074.47	$337.17	$1,411.64	$236,243.14
Jan, 2029	46	$1,072.94	$338.70	$1,411.64	$235,904.44
Feb, 2029	47	$1,071.40	$340.24	$1,411.64	$235,564.20
Mar, 2029	48	$1,069.85	$341.79	$1,411.64	$235,222.41
Apr, 2029	49	$1,068.30	$343.34	$1,411.64	$234,879.07
May, 2029	50	$1,066.74	$344.90	$1,411.64	$234,534.18
Jun, 2029	51	$1,065.18	$346.46	$1,411.64	$234,187.71
Jul, 2029	52	$1,063.60	$348.04	$1,411.64	$233,839.68
Aug, 2029	53	$1,062.02	$349.62	$1,411.64	$233,490.06
Sep, 2029	54	$1,060.43	$351.21	$1,411.64	$233,138.85
Oct, 2029	55	$1,058.84	$352.80	$1,411.64	$232,786.05
Nov, 2029	56	$1,057.24	$354.40	$1,411.64	$232,431.65
Dec, 2029	57	$1,055.63	$356.01	$1,411.64	$232,075.64
Jan, 2030	58	$1,054.01	$357.63	$1,411.64	$231,718.01
Feb, 2030	59	$1,052.39	$359.25	$1,411.64	$231,358.75
Mar, 2030	60	$1,050.75	$231,358.75	$232,409.51	$0.00

Balloon Loan Calculator

Balloon loan calculator is useful for borrowers who need to calculate short term ballon loans. The balloon loan amortization schedule excel is downloadable.

What is a balloon mortgage?

A balloon mortgage is a mortgage where the borrower is allowed to make low or interest-only payments initially and at the end, he is required to pay off the full balance in a lump sum. Balloon mortgages are usually for short-term borrowers who are expected to pay the lump sum in 5 to 7 years. The interest rate is usually lower in the initial period compared to a fixed 30-year mortgage making them useful for homeowners who are only planning to stay in their homes for a short period of time. The homeowners are not looking to stay in the same house for 30 years. However, a balloon mortgage could be risky as the lump sum payment due at the end of the term is a huge amount compared to the regular monthly payments.

Balloon mortgage pros and cons?

There are benefits and disadvantages of getting a balloon mortgage, following are the balloon mortgage pros and cons.

Pros of a balloon mortgage

Lower Monthly Payment - The monthly payment is lower for balloon mortgages because their interest rate is usually lower during the initial period than a fixed-interest mortgage or variable-interest mortgage. Lower Overall Costs - The costs for financing a balloon mortgage are much lower than a traditional mortgage with a 30-year term because the mortgage is much shorter and borrowers will pay less in interest payments. Planning to Move - A balloon mortgage is useful for homeowners that are planning to move or relocate in a few years. There is no reason to pay higher fees and higher monthly payments for a traditional mortgage when these borrowers are looking to sell their house in a few years. Rising Income - Borrowers who expect their income to rise sharply in the coming years may consider a balloon mortgage. They can take advantage of the lower monthly payment initially and then refinance before the balloon payment is due. With their rising income, they will be able to afford a higher monthly payment after refinancing their mortgage. A balloon mortgage allows these buyers to buy a house that they cannot otherwise afford. As with anything else in life, when something sounds too good to be true, there are drawbacks to a balloon mortgage.

Cons of a balloon mortgage

Large Lump Sum Payment - After the initial low monthly payment is over, borrowers are faced with large lump sum payments to pay off the mortgage at once. High Risk - If a borrower is counting on a rising income or a bonus from work to afford the large lump sum payment when it comes due, he could lose his home if his salary doesn't rise enough to afford the payment. Even worse, if he loses his job, not only he won't be able to afford the large payment, he won't be able to refinance it either. The house could be foreclosure. Building Equity Slowly - With a low monthly payment, homeowners are building equity slowly. Harder to Refinance - Lenders may not be willing to refinance a balloon mortgage when the balloon payment is due unless the homeowner has good equity in their house. Since homeowners are building equity slowly by making minimum payments on their balloon mortgage, lenders may decline their application for refinancing. Even if the borrower finds a lender who is willing to refinance his mortgage, the interest rate may be high. Declining House Price - In an environment where house price is declining, the borrower may owe more on their mortgage than the value of his home. This is especially troublesome when the borrower is planning to refinance his mortgage when the balloon payment is due.

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