Comments on: what is Balloon Payment Loan Calculator?

By: Paul

Paul — Wed, 20 Aug 2008 23:58:39 +0000

A Balloon Payment is a one off payment made at the end of the period of a loan to pay it off without penalty or can be a series of payments made at specific periods during the life of the loan.

Take care

Paul

By: Canon A650

Canon A650 — Wed, 20 Aug 2008 19:34:48 +0000

The Balloon Payment Calculator is a very fast and flexible loan calculator which also handles balloon payments.
The balloon payment calculator will calculate one of any five possible unknowns.
With this balloon payment calculator you can get the monthly and balloon payment or just the balloon payment itself.

By: robert w

robert w — Tue, 19 Aug 2008 15:18:53 +0000

a way to lose ur shirts pants etc.

By: MTIG

MTIG — Sat, 16 Aug 2008 17:31:59 +0000

A balloon loan can be an option for many borrowers.

A balloon loan is usually rather short, with a term of three to five years, but the payment is based on a term of up to 15 years or interest only. Allows for a lower monthly payment
(smaller portion of principle than paying off entire loan during the term)

There is, however, a risk to consider. At the end of your loan term, you will need to pay off your outstanding balance. This usually means you must refinance your loan or convert the balloon loan to a traditional loan at the current interest rates.