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Download Balloon Loan Calculator Template In Excel

A balloon loan calculator or balloon mortgage payment is a payment in which you plan to pay off your auto or mortgage loan in a big chunk after a number of small regular monthly payments. Moreover, To determine what that balloon payment will be. You can download Balloon loan calculator below which calculates the regular monthly payment and balloon payment for a loan period between 1 and 360 months (30 years). This spreadsheet can be used for other types of balloon loan calculations as well.

Balloon Payment

Calculate monthly payments, total interest, and amount of the balloon payment for a simple loan using the Excel spreadsheet template.

This spreadsheet includes an amortization and payment schedule suitable for car loans, business loans, and mortgage loans.

Balloon Mortgage

Why a Balloon Payment mortgage?

I originally created this spreadsheet to figure out payment schedule for a car loan or auto loan. Furthermore because I didn’t have the cash in hand to pay for the car in one lump sum, but I knew that I would after 6 months. So, to keep monthly payments low at first, we set up a 3-year loan with the plan to pay loan off completely after about 6 months.

Rounding

This version take into account the fact that the regular payment and the interest are round to the nearest cent. Thus, The “Balloon finance Payment with Rounding” value is taken directly from the amortization schedule, which ensures that the final balance is zero.

Using the Balloon Payment Loan

This spreadsheet is useful as a mortgage calculator, particularly for calculating balloon payment that is when you sell your house after a number of years. However, there are many other costs associate with home buying/selling that the calculator does not take into account. Such as property taxes, escrow payments, mortgage insurance, homeowner’s insurance, closing costs, etc.

Interest-Only Mortgage Loans

An option is add to the spreadsheet to choose between monthly payments that are amortize vs. payments that are interest-only. While interest-only loans may look appealing due to low monthly payment, you still have to pay off the loan eventually. Beware of the consumer debt spiral!

Download this Balloon Loan Calculator template in Excel Format

Our easy to use editable Excel templates and save your significant amount of time and effort. Here’s how to download and use one of our templates:

  1. Download this free Excel Template: Once you’ve browsed through our collection of templates and find the one that best fits your needs. Once you’ve found the template you want, click on the download button.

  2. Replace sample data with your actual data: Once the template is downloaded, open it in Excel. You’ll see that it is already set up with sample data. To start analyzing your own data, simply replace the sample data with your actual data.

  3. Customize the template: Our templates are completely editable, which means you can customize them to fit your specific needs. For example, you can change the formatting, add or remove columns, or create new charts and graphs.

  4. Use the Excel template: Once you’ve fed in your data and customized the template, you’re ready to start using it for data analysis. Use the various tools and features of Excel to analyze and visualize your data, and make informed business decisions.

  5. Save and share: Once you’ve finished working on the template, save it to your computer and share it with other members of your team or stakeholders as needed.

Click Download Button To Get Balloon Loan Calculator Excel Template

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Balloon Loan Calculator Template

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