Owner Finance Calculator with Balloon Payment

Owner Finance Calculator

Calculate your monthly payment and balloon payment for an owner-financed loan.

Loan Amount ($) Interest Rate (%) Loan Term (Years) Balloon Payment Year Monthly Payment ($) Final Balloon Payment ($)

This owner finance calculator helps you determine your monthly payments and balloon payment for an owner-financed loan. You can adjust the loan amount, interest rate, loan term, and balloon payment year to suit your needs.

Loan Formula

Monthly Payment = (Loan Amount × Interest Rate) / Term
Final Balloon Payment = Remaining Loan Amount After Balloon Year

Example Calculation

Loan Amount: $15,000, Interest Rate: 5%, Loan Term: 15 years, Balloon Year: 10 years → Monthly Payment: $118.47, Final Balloon Payment: $7,210.32.

Why It Matters

Owner financing can provide a flexible alternative to traditional loans. Make sure the balloon payment amount is something you can afford at the end of the term.

Smart Strategy

Consider the size of the balloon payment when planning your finances for the future. It’s important to save for the final lump sum.

FAQs

What is a balloon payment? A balloon payment is a large payment due at the end of the loan term, often after a period of smaller monthly payments.

Can I refinance my balloon payment? Yes, you can refinance the balloon payment with another loan if necessary, or pay it off in full.

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