How do you calculate balloon payment amount on a modification mortgage - Balloon Payment Calculator

by Gail
(Dart mass)

Loan balance: $256,663.53
First payment: 5/1/11 $1,195.43
Last payment: 8/1/2036
Interest rate: 4.750% fixed

Here is how you calculate: Balloon Payment Calculator

Using this calculator your balloon payment would be $153,687.77.

However, your loan documentation should actually include a payment schedule that spells out what your balloon payment is. But look at your documents and talk with the mortgage company.