Balloon Payment Calculator
Calculate monthly payments and the final balloon payment for balloon loans. See total interest and plan for the large final payment.
Balloon Payment
Important: Understand Balloon Payments
A balloon payment loan requires a large lump sum payment at the end of the term. While monthly payments are lower, you must have a plan to pay or refinance the balloon amount.
Final Balloon Payment
Due at month 60 (5.0 years) • 30.0% of loan
Calculate payments as if loan were this long
How This Works
Your payment is calculated as if the loan were 72 months, but you only pay for 60 months. The remaining balance becomes your balloon payment.
Balloon vs Standard Loan
Balloon Loan
Standard Loan
Payment Structure
Payment Schedule
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $519 | $331 | $187 | $29,669 |
| 6 | $519 | $342 | $177 | $27,981 |
| 12 | $519 | $355 | $164 | $25,886 |
| 18 | $519 | $368 | $150 | $23,711 |
| 24 | $519 | $382 | $136 | $21,453 |
| 30 | $519 | $397 | $122 | $19,109 |
| 36 | $519 | $412 | $107 | $16,675 |
| 42 | $519 | $428 | $91 | $14,149 |
| 48 | $519 | $444 | $75 | $11,527 |
| 54 | $519 | $461 | $58 | $8,805 |
| 60🎈 | $9,519 | $6,457 | $40 | $0 |
Balloon Payment Strategy
- Have a plan: Know how you'll pay the balloon before taking the loan
- Save monthly: Set aside money each month to cover the balloon
- Plan to refinance: Ensure you'll qualify for refinancing before balloon is due
- Consider alternatives: Standard loans may be better if you can't handle the balloon
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