5. each month if you wait 5 years begin your deposits? 15 years? You need a 30 year, fixed rate mortgage to buy a new home for $235,000. Your mortgage bank will lend you the money at an APR of 5.35 percent for this 360 month loan. However, you can afford monthly pay ments of only $925, so you offer to pay off any remaining loan balance at the end of the loan in the form of a single balloon payment. How large will this balloon payment have to be for you to keep your monthly payments at $925?