   Sorry, this is kind of a goofy one! I'm not sure how I can explain it to make it understandable. Here goes... You can solve for either the Monthly Payment and Balloon Payment or the Balloon Payment Only.
When you solve for the Monthly & Balloon payments, fill in the first THREE fields ONLY and then press the Monthly & Balloon button. The payment is based on a 30 year loan.
When you solve for the Balloon Only payment, fill in the first FOUR fields and then press the Balloon Only button. You can make the payment be whatever you want. Therefore, it acts like a Loan PAYOFF Calculator.
Study the examples below. I think they will provide clarification.

EXAMPLES:  You are getting a $150,000 mortgage loan with a 3 year fixed interest rate of 4.5%. After that the rate can change. You want to know what your monthly payment will be for the first 3 years and how much you'll still owe.
Enter:
 150,000 for Loan Amount
 35 for Months
 4.5 for Interest Rate
 Press the Monthly & Balloon button and you will see that your payment would be $760.03 and that you'll still owe $143,161.83 on the loan.
 Using the example above, let's say you want to make an extra principal payment each month. Instead of paying $760.03 per month, you're going to pay $1000 per month. Now how much will you owe after 35 months of payments?
Enter:
 Leave everything the same, just change the Payment to 1000
 Press the Balloon Only button and you will see that you'll owe $134,171.07 on the loan, instead of $143,161.83.
 A friend gave you a $10,000 loan at 5% interest. It is expected to be paid back within 5 years. You have been making monthly payments of $200.00 (instead of the $188.71 calculated payment) for 17 months. Now you have a little extra money and would like to pay your friend back the entire amount owed.
Enter:
 10,000 for Loan Amount
 17 for Months
 5 for Interest Rate
 200 for Payment
 Press the Balloon Only button and you will see that you can pay your friend back with $7,246.79.

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