Mortgage Balloon Payment Comparison Calculator
Mortgage Balloon Payment Comparison
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Calculate and compare (formatted side by side) the monthly payments and final balloon payment amount for up to 4 balloon mortgage loans. Enter your sale price, any down payment you're making, the interest rate, the length of balloon payments, and the amortized length used to calculate the monthly payment. This calculator will then show you the monthly principal and interest payment, the final balloon payment amount, the total amount of interest you will pay and the total amount of money you will spend over the life of each loan. You can also enter the points and other closing costs and roll those into your loans. You can even enter an additional payment amount you intend to pay each month to work down your principal to reduce the final balloon payment amount.
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