They are attractive in that they are simpler to qualify for and often have a lower interest rate. … At the end of the loan term you will need to pay off the loan, refinance or convert the balloon mortgage to a traditional mortgage at current interest rates….
Read the original post:
When You Are in the Home Stretch, Choose the Right Mortgage Loan
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Tags: are-easier, balloon, balloon mortgage, current-interest, loan, lower-interest, the-end, the-loan, will-need
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