Convertible Balloon Mortgage Calculator

These days 5/25 and 7/23 convertible balloon mortgages are getting more popular since they provide lower rates than conventional 30-year mortgages while still giving a fixed payment schedule for 5 or more years. The risk, of course, is what happens after the initial fixed period is over and you have the possibility of converting your loan. Here is a calculator to try to answer those questions.

Principal Balance:

Type of Loan:

Initial Interest:

Monthly Prepayment During Initial Fixed Period:

The accuracy of this calculator and its applicability to your circumstances is not guaranteed. Results should be discussed with a qualified professional before any product purchases or loan commitments are made. Calculators are not a guarantee of credit.