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Balloon Mortgage Calculator

Estimate the monthly payment on a balloon mortgage and the full remaining balance due in one lump sum when the balloon term ends.

Quick answer: A balloon mortgage calculates your payment as if the loan amortized over 30 years, but the full remaining balance comes due in one lump sum after a much shorter term — often 5 or 7 years. This calculator shows both the lower monthly payment and exactly how much you would still owe when the balloon date arrives.

SWReviewed by SwitchWize Research Desk · Last reviewed August 25, 2026
Monthly Payment
$2,263
Monthly Payment
$2,263
Monthly Rate
0
Total Paid Before Balloon
$190,102
Interest Paid Before Balloon
$157,704
Share of Original Loan Still Owed
90.74%
Diagnostic

A $350,000 balloon mortgage at 6.72% (amortized over 30 years) carries a $2,263/mo payment — but the full $317,602 balance comes due after 7 years.

That's 90.74% of what you borrowed, still owed as one lump sum. You'll need to refinance, sell, or pay it off in cash before the balloon date — plan for that well ahead of time.

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What to do next

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Your action plan
  1. 1

    Calculate the baseline result with your current numbers

    Estimate the payment on a balloon mortgage and the full remaining balance due in one lump sum when the balloon term ends.

  2. 2

    Compare the result against current market-rate options

    Assumptions change the answer, especially when rates, taxes, or timing matter.

  3. 3

    Save the result to Money Map or use the linked next action

    Turn the result into a prioritized action instead of treating it as a one-off number.

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This is an educational estimate, not tax, legal, investment, or lending advice. Tax rules, rates, and eligibility change and depend on your full situation. Confirm with a qualified professional or the provider before acting.

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About mortgage rates

Mortgage rates depend on loan type (30-yr fixed, 15-yr fixed, ARM, FHA, VA, jumbo), your credit score, down payment, points paid, loan amount, property state, and whether you're purchasing or refinancing. The calculator above uses a representative market rate for payment estimates — your actual rate will vary.

For a personalized rate comparison, use the tool below to see lenders ranked by APR, loan type, and your profile.

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Frequently Asked Questions

Everything you need to know.

What is a balloon mortgage?
A balloon mortgage sets your monthly payment using a long amortization schedule — often 30 years — but requires the entire remaining loan balance to be paid off in a single lump sum after a much shorter balloon term, commonly 5 or 7 years. The lower payment during the balloon term is the appeal; the lump sum at the end is the risk.
What happens if I can't pay the balloon payment?
Most borrowers plan to refinance into a new loan or sell the property before the balloon date rather than pay the lump sum in cash. If you can't refinance — because rates rose, your income changed, or your credit dropped — and can't sell, you risk default and foreclosure. Confirm your refinance eligibility and exit plan well before the balloon date.
Balloon mortgage vs ARM — what's the difference?
An ARM (adjustable-rate mortgage) keeps amortizing over its full term but the rate can reset periodically. A balloon mortgage typically keeps a fixed rate for the whole balloon term, but the loan itself is not fully amortized — a lump sum remains due at the end regardless of what rates do.
Who typically uses a balloon mortgage?
Balloon mortgages are more common in commercial real estate and some short-term residential situations — for example, a buyer who expects a near-term sale, a large bonus or liquidity event, or plans to refinance once credit or income improves. They are less common for a primary residence held long-term because of the payment-shock and refinance risk at the balloon date.
Is the Balloon Mortgage Calculator free to use?
Yes. SwitchWize calculators are free, and you do not need an account to run scenarios or view the result.
Does using the Balloon Mortgage Calculator affect my credit score?
No. Using a calculator does not trigger a credit check. A credit impact can occur only if you apply directly with a lender, card issuer, or provider.
Are the results personalized financial advice?
No. Calculator outputs are educational estimates based on the inputs you enter. Review assumptions and confirm terms directly with providers before making a financial decision.
What should I do after seeing the result?
Use the recommendation module on this page to compare mortgage rates ->, or run Money Map to compare this home & mortgage decision with your other opportunities.
How does SwitchWize choose related offers?
Related offers are matched by the calculator surface (mortgage) and ranked using SwitchWize data such as rate, fees, trust signals, product fit, and switching friction. Paid relationships do not change organic ranking order.
How fresh are the rates and offers shown?
Rate and offer data is reviewed on a recurring cadence and every offer module shows review context or links to the methodology and disclosure pages.
Where can I see the ranking methodology?
The SwitchWize methodology page explains how rate freshness, editorial review, affiliate disclosure, and category ranking factors work.
Can Money Map use this result?
Yes. Money Map is the broader diagnostic path: it compares savings, mortgage, cards, and debt so you can see whether this calculator result is your highest-impact next move.

Why This Matters

A balloon mortgage calculates your payment as if the loan paid off over 30 years, but the entire remaining balance comes due after a much shorter balloon term — often 5 or 7 years. Most borrowers never intend to pay that lump sum in cash; the plan is to refinance or sell before the balloon date. If rates rise or your finances change, that plan can fail.

How to Use It

  1. 1Enter the loan amount and interest rate
  2. 2Choose the amortization period used to calculate your payment (15, 20, or 30 years)
  3. 3Choose the balloon term — when the full balance becomes due
  4. 4See the monthly payment and exactly how much is still owed at the balloon date
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