| Loan | Early Payoff | Extra Payments | Biweekly Payment | Balloon Payment | Interest Only | Comparison |
Balloon Loan Calculator
Use the balloon loan calculator to calculate the monthly payments for any loan with balloon payments. The balloon payment calculator will show you the monthly payments and the final balloon payment.
Balloon Loan Summary |
|
Monthly Payment: |
$1,403.34 |
Balloon Payment: |
$118,850.89 |
Total Principal Paid: |
$150,000.00 |
Total Interest Paid: |
$51,647.67 |
Total Payment: |
$201,647.67 |
Balloon Loan Amortization Schedule |
||||||
| Payment Date | Payment # | Interest Paid | Principal Paid | Total Payment | Remaining Balance | |
|---|---|---|---|---|---|---|
| Apr, 2025 | 1 | $956.25 | $447.09 | $1,403.34 | $149,552.91 | |
| May, 2025 | 2 | $953.40 | $449.94 | $1,403.34 | $149,102.98 | |
| Jun, 2025 | 3 | $950.53 | $452.80 | $1,403.34 | $148,650.18 | |
| Jul, 2025 | 4 | $947.64 | $455.69 | $1,403.34 | $148,194.49 | |
| Aug, 2025 | 5 | $944.74 | $458.60 | $1,403.34 | $147,735.89 | |
| Sep, 2025 | 6 | $941.82 | $461.52 | $1,403.34 | $147,274.37 | |
| Oct, 2025 | 7 | $938.87 | $464.46 | $1,403.34 | $146,809.91 | |
| Nov, 2025 | 8 | $935.91 | $467.42 | $1,403.34 | $146,342.49 | |
| Dec, 2025 | 9 | $932.93 | $470.40 | $1,403.34 | $145,872.09 | |
| Jan, 2026 | 10 | $929.93 | $473.40 | $1,403.34 | $145,398.69 | |
| Feb, 2026 | 11 | $926.92 | $476.42 | $1,403.34 | $144,922.27 | |
| Mar, 2026 | 12 | $923.88 | $479.46 | $1,403.34 | $144,442.81 | |
| Apr, 2026 | 13 | $920.82 | $482.51 | $1,403.34 | $143,960.30 | |
| May, 2026 | 14 | $917.75 | $485.59 | $1,403.34 | $143,474.71 | |
| Jun, 2026 | 15 | $914.65 | $488.68 | $1,403.34 | $142,986.03 | |
| Jul, 2026 | 16 | $911.54 | $491.80 | $1,403.34 | $142,494.23 | |
| Aug, 2026 | 17 | $908.40 | $494.93 | $1,403.34 | $141,999.29 | |
| Sep, 2026 | 18 | $905.25 | $498.09 | $1,403.34 | $141,501.20 | |
| Oct, 2026 | 19 | $902.07 | $501.27 | $1,403.34 | $140,999.94 | |
| Nov, 2026 | 20 | $898.87 | $504.46 | $1,403.34 | $140,495.48 | |
| Dec, 2026 | 21 | $895.66 | $507.68 | $1,403.34 | $139,987.80 | |
| Jan, 2027 | 22 | $892.42 | $510.91 | $1,403.34 | $139,476.89 | |
| Feb, 2027 | 23 | $889.17 | $514.17 | $1,403.34 | $138,962.72 | |
| Mar, 2027 | 24 | $885.89 | $517.45 | $1,403.34 | $138,445.27 | |
| Apr, 2027 | 25 | $882.59 | $520.75 | $1,403.34 | $137,924.52 | |
| May, 2027 | 26 | $879.27 | $524.07 | $1,403.34 | $137,400.46 | |
| Jun, 2027 | 27 | $875.93 | $527.41 | $1,403.34 | $136,873.05 | |
| Jul, 2027 | 28 | $872.57 | $530.77 | $1,403.34 | $136,342.28 | |
| Aug, 2027 | 29 | $869.18 | $534.15 | $1,403.34 | $135,808.13 | |
| Sep, 2027 | 30 | $865.78 | $537.56 | $1,403.34 | $135,270.57 | |
| Oct, 2027 | 31 | $862.35 | $540.99 | $1,403.34 | $134,729.58 | |
| Nov, 2027 | 32 | $858.90 | $544.43 | $1,403.34 | $134,185.15 | |
| Dec, 2027 | 33 | $855.43 | $547.90 | $1,403.34 | $133,637.25 | |
| Jan, 2028 | 34 | $851.94 | $551.40 | $1,403.34 | $133,085.85 | |
| Feb, 2028 | 35 | $848.42 | $554.91 | $1,403.34 | $132,530.93 | |
| Mar, 2028 | 36 | $844.88 | $558.45 | $1,403.34 | $131,972.48 | |
| Apr, 2028 | 37 | $841.32 | $562.01 | $1,403.34 | $131,410.47 | |
| May, 2028 | 38 | $837.74 | $565.59 | $1,403.34 | $130,844.88 | |
| Jun, 2028 | 39 | $834.14 | $569.20 | $1,403.34 | $130,275.68 | |
| Jul, 2028 | 40 | $830.51 | $572.83 | $1,403.34 | $129,702.85 | |
| Aug, 2028 | 41 | $826.86 | $576.48 | $1,403.34 | $129,126.37 | |
| Sep, 2028 | 42 | $823.18 | $580.15 | $1,403.34 | $128,546.22 | |
| Oct, 2028 | 43 | $819.48 | $583.85 | $1,403.34 | $127,962.37 | |
| Nov, 2028 | 44 | $815.76 | $587.58 | $1,403.34 | $127,374.79 | |
| Dec, 2028 | 45 | $812.01 | $591.32 | $1,403.34 | $126,783.47 | |
| Jan, 2029 | 46 | $808.24 | $595.09 | $1,403.34 | $126,188.38 | |
| Feb, 2029 | 47 | $804.45 | $598.88 | $1,403.34 | $125,589.50 | |
| Mar, 2029 | 48 | $800.63 | $602.70 | $1,403.34 | $124,986.79 | |
| Apr, 2029 | 49 | $796.79 | $606.54 | $1,403.34 | $124,380.25 | |
| May, 2029 | 50 | $792.92 | $610.41 | $1,403.34 | $123,769.84 | |
| Jun, 2029 | 51 | $789.03 | $614.30 | $1,403.34 | $123,155.54 | |
| Jul, 2029 | 52 | $785.12 | $618.22 | $1,403.34 | $122,537.32 | |
| Aug, 2029 | 53 | $781.18 | $622.16 | $1,403.34 | $121,915.16 | |
| Sep, 2029 | 54 | $777.21 | $626.13 | $1,403.34 | $121,289.03 | |
| Oct, 2029 | 55 | $773.22 | $630.12 | $1,403.34 | $120,658.91 | |
| Nov, 2029 | 56 | $769.20 | $634.13 | $1,403.34 | $120,024.78 | |
| Dec, 2029 | 57 | $765.16 | $638.18 | $1,403.34 | $119,386.60 | |
| Jan, 2030 | 58 | $761.09 | $642.25 | $1,403.34 | $118,744.36 | |
| Feb, 2030 | 59 | $757.00 | $646.34 | $1,403.34 | $118,098.02 | |
| Mar, 2030 | 60 | $752.87 | $118,098.02 | $118,850.89 | $0.00 | |
What is a Balloon Loan?
A balloon loan is a type of loan that requires small monthly payments in the beginning of the term, but the majority of the loan balance is due as a lump sum payment at the end of the term. Balloon loans are often used in real estate, car loans, and other financing options where the borrower wants lower monthly payments initially but plans to pay off the remaining balance in a lump sum at the end of the loan.
How Does a Balloon Loan Work?
With a balloon loan, the borrower makes small regular payments initially, typically ranging from 5 to 7 years. At the end of the term, a large lump sum payment is required to pay off the loan.
Here's how a balloon loan works:
- Small Regular Payments - The borrower makes lower monthly payments for the majority of the loan term, which are based on an amortization schedule that assumes the loan will be paid off in full over a longer period.
- Balloon Payment - At the end of the term, the remaining loan must be paid off as a lump-sum payment. That large lump sum payment is known as the balloon payment.
- Refinancing - If the borrower cannot afford the balloon payment, they may have the option to refinance the loan at the end of the term.
Is a Balloon Loan Right For You?
There are many things to consider when getting a balloon loan. The first thing you need to know is whether you can afford the large balloon payment at the end of the term. Here are some suitations where a balloon payment make sense.
- Business Owners - If you need to finance short term projects or want to pay off a loan with proceeds from a future sale.
- Homebuyers - Homebuyers who plan to sell or refinance their house before the balloon payment is due. They can then use the proceeds to payoff the balloon payment.
- Investors - Investors who expect to receive a large sum of money at a future date, such as from the sale of an investment or real estate property which would allow them to afford the balloon payment.
Balloon loan is not for everyone, it is risky because if borrower cannot pay the large balloon payment when it is due, the borrower is facing default.
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