With Payment Schedule

Original Size

You can calculate one of any five possible unknowns with this calculator. Just enter a zero for one of the following: "amount of loan", "annual rate", "balloon due at payment number", "periodic payment" or "final balloon payment".

Therefore, it is easy to solve for a periodic payment amount that will result in a particular balloon payment. Or you can solve for the balloon payment amount given a regular payment amount that you enter.

If you are solving for the final balloon payment amount and the result is negative, that indicates the final payment will not need to be a balloon payment. That is, the periodic payment amount is large enough that a balloon is not needed. Or, conversely, you can reduce the periodic payment amount if you are willing to have a final payment that is a balloon.

NOTE: A balloon payment is NOT the remaining balance of a loan. See "Remaining Balance Calculator" if you need a loan balance after a payment is paid.

1. Can you please make the schedule an Excel file?

2. Can you please add a field where I can specify the date of the first payment?

3. Thank you.

Please modify so you can specify specific loan dates.

For that feature, please use the Time Value of Money Calculator. This calculator will support balloon loans and you’ll be able to set origination date, payment dates and balloon date to any date desired.

If you click on above link, scroll down the page and please see tutorial nos. 7 and 8:

Balloon Payment Calculation

Calculate the balloon amount

Balloon Loan Calculation

Calculate the periodic payment required to result in a specified balloon

If you try this calculator, I would be very interested to know how you make out.

#2 – there is already a calculator on this site that will allow you to have a balloon payment and set the 1st payment date (or any payment date for that matter). Please see:

Time Value of MoneyThis calculator is our most flexible calculator. However, it may take some getting use to. To that end, there are 25 tutorials listed at the bottom of the page. Please see #7 and #8. (Note, the tutorials still have not been updated to reflect the new look, but the basic functionality between the old calculator and new one is the same. Ask question on that page if something isn’t clear.)

#1. This is where I get a chance to sell you something. The

C-Value!program will create a schedule and export to Excel. If you are using Windows you may want to consider using it. It costs $19.95. (Works in a very similar way to the above calculator.)Thanks for the comment.

How can I change the dates on this calculator to reflect a loan schedule that shows a loan to be made 1/1/17 whose repayment starts 2/1/17?

Not with this particular calculator. However, the Time Value of Money calculator will let you set dates (even setting the date individually for all payments should that ever be needed).

Depending on whether the regular payment is unknown or the balloon payment about is unknown, scroll down the page and see the tutorial #7 or #8 for examples.

If you have any question about its use, you can ask them on that page.

(Some calculators on this site do not offer date options so that they are smaller and work better on smaller devices. Additionally, for some requirements, setting dates is an unnecessary hindrance.)

I need to run several payment schedules with fixed payment amounts but I also need to choose the loan date (05/01/16). It seems all your calculators assume a loan date of the first of next month (04/01/16). Can you recommend another calculator?

Thanks for asking. I see you found it, but for the benefit of others, the

amortization scheduleallows the user to select a loan date and first payment date.I’ll also point out that since you were looking at the balloon payment calculator, the the amortization schedule won’t support balloon loans. However this calculator,

Time Value of Moneywill allow you to set the loan date and have a final balloon payment. (Note, the tutorial listed at the bottom of the page, still need to be updated. Hopefully they will be completed within the next two weeks.)How can I change the first payment date. The autocalc started in 6/1/2016 with first pymt due 7/1/2016. I need it to start with 1st pymt 6/1/2016.

Thank you for any info and assist.

Gary Spray

This calculator is designed for rapid entry and therefore it is not possible to specify dates.

But, I do have a calculator that will handle balloons and give you full control over the dates. Please use the Time Value of Money calculator.

And see these tutorials:

7. calculate the balloon amount

8. calculate the regular payment amount that results in specific balloon.

Please let me know how you make out. If the TVM calculator doesn’t meet your needs, tell me why, because I have one more idea as well.

Can you please add smart phone support? Tried on both a window phone and android but was able to edit any numerical fields. Only the drop down fields.

I’ve got to try to get a hold of an Android device to try this. As far as I know, the site should work well with any modern device – handheld, tablet or desktop. I’ve personally tested with iPhone, iPad and all popular desktop browsers.

With Android, does it have next/previous buttons? Or tab/shift tab? If so, please try this. Rather than touch the screen and try to edit, use the keys to go to the next input and then try to type. My hunch, that will work.

In general, for edit to work, the number has to be selected OR type the backspace key to clear first.

Please let me know of any of these things help.

Using the balloon payment calculator, I am unable to come up with the amount allocated to interest on the first payment made. Would you be able to tell me the exact calculation the program uses to figure the interest amount? (maybe I am not using the correct number of days, etc?)

I have to limit the support to questions dealing with either how to use a calculator or what calculator to use to solve an explicit problem. But, unless you are using daily, exact or continuous compounding, the number of days has no part in the formula.