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:

Principal Balance 3 yr balloon 5/256/247/238/229/2110/20 Type of Loan Initial Interest (%) Monthly Pre-payment during initial fixed period HTML ASCII Text Specify Output Format

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