Balloon mortgages are loans
that are not fully amortized (paid off) at the end of the
loan term. The balance is paid in a lump sum (balloon payment)
at the end of the term. Often balloon mortgages offer a low
rate during the term of the loan.
Features:
| • |
Low rates |
| • |
Most include an option to refinance at the end of the
term |
| • |
Are planning to move in a few years |
| • |
Want a low, fixed rate |
| • |
Will have cash on-hand to pay off the balloon payment
|
| • |
Are willing to take on a certain degree of risk |
Your Gershman Mortgage loan officer can
help find the best mortgage for you. Call today, 1-800-GERSHMAN.
Residential
