Balloon Home Loans

Balloon Mortgages

Balloon Mortgages

Balloon mortgages have a payment schedule similar to a 30-yr fixed rate home loan. The term of the balloon mortgage is shorter, typically 5 to 15 years. At the end of the loan term (5-15 years)  the outstanding balance must be paid in one lump sum, either out of pocket or by refinancing the home. There are pros and cons when comparing them to Fixed and Adjustable loans.

 

Explore Home Loan Financing Options:

Fixed Rate Mortgage, Reverse Mortgage, Jumbo Mortgage, Hybrid Mortgages and Adjustable Rate Mortgage.