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Enter a "0" (zero) for one unknown value above.

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43 Comments on “Balloon Payment Calculator”

financial online calculator Join the conversation. Tell me what you think.
    • Not sure if you’re just telling me how you are using this calculator, or if you have a question how to calculate what you need? This calculator will handle that calculation. If you need to know how, please give me some example numbers and I’ll explain how it’s done.

      • Hi there!!

        The loan amount is $120,813.87 with interest of 7% starting 12/28. First payment 1/28 payable monthly until 10 years. Fully amortized over 20 years.

        • Okay, that’s helpful.

          Since the payment amount for a 20 year amortization is currently not known, you’ll have to do this calculation in 2 steps.

          Step 1:

          1. Set "amount of loan" to $120,813.87
          2. Set "annual rate" to 7%
          3. Set "balloon due at payment #" to 240 (since we need to know the payment amount for a 20 year monthly loan)
          4. Set "periodic payment" to "0", since this is an unknown value.
          5. And another step that is not obvious, set the "final balloon payment" to 0.01. (We want the balance to be 0 after 20 years, but 0 tells the calculator to calculate the amount, so we have to fudge with a 1 cent balance 🙂 )
          6. Leave the other settings as they are.
          7. Calculate. The 20 year payment will be $938.47.

          Step 2:

          1. Leave the first 2 inputs as they are after the above calculation.
          2. Change the "balloon due at payment #" to 120.
          3. Leave "periodic payment" set to the prior calculated result
          4. Set "final balloon payment" to "0".
          5. Now calculate again.
          6. You are ready to view your schedule with a balloon at 10 years.

          If you want a balloon schedule where you have control over the dates, you can use this amortization schedule, or this loan calculator or this financial calculator. For the 1st two calculator, enter the values as calculated and they will create a schedule with the dates you set. For the last calculator, scroll down the page to the tutorials.

          🙂

    • With this balloon calculator, you can’t. However, this amortization schedule will create a balloon payment schedule and you can set both the loan date and first payment date. To use for a balloon schedule, enter all 4 values (loan amount, number of payments [payment number balloon is due], interest rate and normal payment amount) and calculator will show final balloon payment.

      If you don’t know all 4 values, then solve for the one unknown, and then rerun setting the number of periods to when the balloon is due. If you have any questions, just ask.

Comments, suggestions & questions welcomed...