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Convertable 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 help you determine if this is the right mortgage for you.

Principle Balance  
Type of Loan  
Initial Interest (%)   %
Monthly Pre-payment during initial fixed period  

 

 
Featured Home

Approx. 2700 sq. ft. gorgeous townhouse end unit in Barrister Farms! Convenient to highways, yet tucked away and quiet! Read on for details..

Featured Home

Wonderful home --not the usual cape! Huge yard, high ceilings in bedrooms, large, open spaces.

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