Convertible 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 try to answer those questions...