Personal Loan Balloon Payment Calculator
This calculator estimates periodic payments for a loan that uses a standard amortization schedule for recurring payments and leaves a final balloon payment (remaining principal) due at a specified date. It supports bi‑weekly schedules (26 payments/year) and other custom payment frequencies.
Use the amortization period to indicate the schedule used to compute each installment (for example, a 5‑year amortization with a 2‑year balloon means payments are sized as if the loan amortizes over 5 years, but the remaining balance is due after 2 years). Results are numerical estimates for planning and disclosure; verify final numbers with your lender.
Inputs
Results
Periodic payment (per payment period)
$217.53
Number of payments until balloon
52
Balloon payment due (remaining principal at balloon date)
$15,742.12
Total amount paid until balloon (principal + interest paid by then)
$11,311.59
Total interest paid until balloon
$2,053.71
| Output | Value | Unit |
|---|---|---|
| Periodic payment (per payment period) | $217.53 | currency |
| Number of payments until balloon | 52 | — |
| Balloon payment due (remaining principal at balloon date) | $15,742.12 | currency |
| Total amount paid until balloon (principal + interest paid by then) | $11,311.59 | currency |
| Total interest paid until balloon | $2,053.71 | currency |
Visualization
Methodology
The calculator uses standard time‑value‑of‑money formulas: periodic interest rate = annual rate / payments per year. Periodic payment is the level payment that amortizes the principal over the amortization schedule. The balloon amount is the outstanding principal after the specified number of payments.
Quality and numerical behavior follow industry best practices for financial calculators. We document limits and rounding behavior below and reference general standards for accuracy control and risk management in computational tools (NIST, ISO, IEEE, OSHA) to support reproducibility and operational reliability.
Further resources
Expert Q&A
Does this calculator handle zero interest rates?
The formulas assume a positive periodic interest rate. For a 0% annual interest rate, the periodic payment equals principal divided by the number of amortization payments (principal / n). Enter a very small positive rate or perform manual division for exact zero‑interest cases.
Why is the balloon different from the original principal?
The balloon equals the outstanding principal after the number of payments you specify. If the balloon occurs before full amortization, principal remains and is due at balloon time.
How do I set bi‑weekly payments?
Set Payments per year = 26 for bi‑weekly. If your lender uses a different convention (e.g., semi‑monthly or accelerated bi‑weekly), confirm the lender's schedule and use the matching payments‑per‑year value.
Are results final legal figures I can rely on for closing?
No. Results are estimates for planning and comparison. Final payout and disclosure amounts from your lender or servicer take precedence. Use the outputs to prepare questions and verify lender calculations.
Sources & citations
- NIST — National Institute of Standards and Technology — https://www.nist.gov
- ISO — International Organization for Standardization — https://www.iso.org
- IEEE — Institute of Electrical and Electronics Engineers — https://www.ieee.org
- OSHA — Occupational Safety and Health Administration — https://www.osha.gov