WHAT IS A BALLOON MORTGAGE?
A balloon mortgage is that it has a level monthly payments of principal
and interest that do not fully amortize
the loans. The balance is due in a lump sum payment at a specified
date, usually at the end of the term.
A mortgage that has level monthly payments that will only authorize it
over a stated the term that provides
for the lump sum payment to be due at the end of an earlier specified
term.This is also a mortgage that sums up the payments in a preceding payment and pays the loan to it's
fullest. A balloon mortgage is also
a mortgage that is authorized for a loan repayment period but at the
end of a specific period. The balance
of the mortgage comes due. Plus a balloon payment needs to also be made
you cant just receive it like that.
Cash out mortgage
Home equity line of credit
Home equity mortgage
What is an FHA mortgage
Adjustable rate mortgage
Interest only mortgage
Fixed rate mortgage
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