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...
Principle Balance:
Type of Loan:
Interest Rate:
Monthly Pre-Payment,
if any:
Output Type:
Results Shown Below
(This calculator is considered reliable, but not guaranteed.)