Balloon Mortgage Loan Calculator Loan Amount: Interest Rate: Years to Maturity: Balloon Payment: Total Payment: function calcballoon(){ var loanamt = document.getElementById('loanamt').value; var intrate = document.getElementById('intrate').value; var maturity = document.getElementById('maturity').value; var balloonpayment = document.getElementById('balloonpayment').value; loanamt = parseFloat(loanamt); intrate = parseFloat(intrate); maturity = parseFloat(maturity); balloonpayment = parseFloat(balloonpayment); var intrateDecimal = intrate/100/12; var monthlyPayment = (loanamt*intrateDecimal)/(1-(Math.pow(1/(1+intrateDecimal),(maturity*12)))); var totalPayment = monthlyPayment*maturity*12 - balloonpayment; document.getElementById('totalpayment').value = totalPayment; } An Overview of Balloon Mortgage Loan Calculators Balloon mortgage loan calculators are tools that can help you better understand the terms of your loan. They can help you calculate your monthly payments, when your balloon will come due, and the total payoff cost for your balloon loan. When financing your home, it's important to have a tool that can help you compare all of your loan options and make an informed decision. Here's what you need to know about balloon mortgage loan calculators. How do Balloon Mortgage Calculators Work? Balloon mortgage loan calculators work by entering in the basics of your loan from the lender. This will typically include the loan amount, term, and rate of interest. From this information, the calculator will determine your monthly payments and overall interest cost. It will also tell you when you can expect the balloon payment to come due at the end of the term. Advantages of Using a Balloon Mortgage Calculator Using a balloon mortgage calculator helps borrowers compare different loan offers and figure out the best option for their needs. It allows borrowers to determine exactly how much they can afford on a monthly basis and how much the loan will ultimately cost them. It also helps them avoid surprises when the balloon comes due by allowing them to incorporate this payment into their financial planning. How to Choose the Right Balloon Mortgage Calculator When selecting a balloon mortgage calculator, you need to make sure it's from a trusted source. It's important to find one that's updated with accurate loan terms from lenders. Additionally, look for calculators that offer features such as the ability to input your loan amount, interest rate, and term. This will make it easier to compare different loan offers and ensure you get the best deal. Conclusion A balloon mortgage loan calculator can be an invaluable tool when you are financing your home. It can help you get an accurate estimate of your monthly payments and overall loan cost. With these calculators, you can easily compare different loan offers and make sure you get the best deal. With the help of a balloon mortgage calculator, you can make an informed decision and be prepared for the future.