Loan Repayment Calculator with Balloon Payment

Loan Amount ($) Interest Rate (%) Loan Term (Years) Balloon Payment ($) Estimated Monthly Payment ($) Total Payment Over Loan Term ($)

function calculateLoanRepayment(){ const loanAmount = parseFloat(document.getElementById(“loanAmount”).value); const interestRate = parseFloat(document.getElementById(“interestRate”).value) / 100; const loanTerm = parseInt(document.getElementById(“loanTerm”).value); const balloonPayment = parseFloat(document.getElementById(“balloonPayment”).value); if(isNaN(loanAmount) || isNaN(interestRate) || isNaN(loanTerm) || isNaN(balloonPayment) || loanAmount <= 0 || interestRate <= 0 || loanTerm <= 0 || balloonPayment el.value=””); }

This loan repayment calculator with balloon payment helps you calculate monthly repayments and total payments over the loan term, including the final balloon payment amount.

Loan Repayment Formula

Monthly Payment = (Loan Amount × Monthly Interest Rate) / (1 – (1 + Monthly Interest Rate) ^ -Number of Payments)
Total Payment = (Monthly Payment × Number of Payments) + Balloon Payment

Example Calculation

$50,000 loan, 5% interest rate, 5-year term, $10,000 balloon payment → Monthly Payment = $944.81, Total Payment = $64,732.91.

Why It Matters

Including a balloon payment can lower your monthly payments, but keep in mind you will need to pay a larger amount at the end of the loan term.

Smart Strategy

Ensure you can afford the balloon payment at the end of the loan term, or plan to refinance it.