This calculator is for illustrative purposes only. We do not guarantee that calculations are accurate. Always consult your accountant or a professional advisor before making personal financial decisions. 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 to the rate after the initial fixed period when you must convert your loan. This calculator will help you look at the scenerios. |