• 			    The PERFECT HOME is waiting for you -- let us find you the perfect loan to go with it.

    The PERFECT HOME is waiting for you -- let us find you the perfect loan to go with it.

  • 			    Conforming and FHA loans. 

    Conforming and FHA loans.

     

  • 			    Super Conforming and Jumbo Loans

    Super Conforming and Jumbo Loans

  • 			    Reverse Mortgages for seniors 62 and over.

    Reverse Mortgages for seniors 62 and over.

  • 			    VA Loans for Veterans

    VA Loans for Veterans

Balloon Mortgages

A balloon mortgage has an interest rate that is fixed for an initial amount of time. At the end of the term, the remaining principal balance is due. At this time, the borrower has a choice to either refinance or pay off the remaining balance.

There are no penalties to paying off a balloon mortgage loan before it is due. Borrowers may refinance at any time during the life of the loan.

Balloon loans typically have either 5 or 7-year terms. For example, a 7-year balloon mortgage with an interest rate of 7.5% would feature this interest rate for the entire term. After 7 years, the remaining loan balance would become due.

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