Personal Loan Balloon Payment Calculator with Bi-Weekly Payments
This calculator estimates the scheduled periodic payment and the outstanding balloon payment for loans that are amortized over a longer schedule but have a large lump-sum (balloon) due earlier. It supports any payment frequency by letting you set payments per year (for example, 26 for bi-weekly or 12 for monthly).
Use this tool to compare how changing the payment frequency, amortization length, or balloon timing affects the scheduled payment and the amount of the balloon due. Results assume level periodic payments and a constant interest rate for the term provided.
Computes the regular periodic payment based on an amortization schedule, then computes the outstanding balance at the balloon date.
Inputs
Results
Scheduled periodic payment
$222.81
Balloon amount due at balloon date
$15,888.40
Total paid before balloon
$11,586.34
Interest paid before balloon
$2,474.73
Number of payments until balloon
52
| Output | Value | Unit |
|---|---|---|
| Scheduled periodic payment | $222.81 | currency |
| Balloon amount due at balloon date | $15,888.40 | currency |
| Total paid before balloon | $11,586.34 | currency |
| Interest paid before balloon | $2,474.73 | currency |
| Number of payments until balloon | 52 | payments |
Visualization
Methodology
The tool converts the nominal annual interest rate to a periodic rate by dividing by the chosen payments per year. It computes the level periodic payment that would amortize the loan over the amortization period and then computes the remaining principal after the number of payments made up to the balloon date.
Formulas used follow standard time-value-of-money mathematics for fixed-rate installment loans. The calculator assumes interest compounds at the same frequency as payments.
Key takeaways
This calculator provides scheduled periodic payment and balloon balance at a chosen balloon date for fixed-rate loans. It supports bi-weekly and monthly payment frequencies through the payments-per-year input.
For contractual or legal purposes, always use lender-provided amortization schedules and disclosures. This tool is intended for planning and comparison only.
Further resources
External guidance
Expert Q&A
Can I use this for bi-weekly payments?
Yes. Set Payments per year to 26 to model bi-weekly schedules. For semi-monthly or other frequencies set the appropriate payments per year value.
What if the interest rate is zero?
At a 0% interest rate, periodic payment is Loan / N and the balloon balance equals the remaining principal. The general formula divides by the periodic rate; consult the accuracy caveats if your rate is zero or extremely small.
Is the balloon amount the same as the last scheduled payment?
Not necessarily. A balloon is typically a lump sum equal to the remaining principal after scheduled payments; it can be larger than a regular periodic payment.
Does this include fees, prepayment penalties, or interest capitalization?
No. This calculator models only principal and periodic interest at a fixed rate. Add fees to the loan amount or account for penalties separately.
How accurate are the results?
Results follow the standard mathematical model for fixed-rate amortizing loans and are accurate to typical numerical precision. For regulatory disclosures, taxation, or contract-level computations rely on servicer statements and lender-provided amortization schedules.
Sources & citations
- NIST - Guide to Software Verification and Validation — https://www.nist.gov
- ISO Standards Collection — https://www.iso.org
- IEEE Standards Association — https://standards.ieee.org
- Consumer Financial Protection Bureau - Loan Details — https://www.consumerfinance.gov