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 first several 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...

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Type of loan	3/27 5/25 6/24 7/23 8/22 9/21 10/20
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