Try our easy to use balloon payment calculator. For those expecting to remain in their home for a relatively short period of
time, 5/25 and 7/23 Convertible, Two-Step, and Balloon mortgages are getting
more popular since they often provide lower rates than conventional 30 year
mortgages while still giving a fixed payment schedule for 5 or more years.
The risk, in the case of balloon payments, is what happens after the initial fixed period is over and
you have the possibility of converting your loan. Here is a calculator to
determine your initial fixed payment and to try to answer those questions.
