Balloon Mortgage Calculator

Topics:
Credit Management,
Quantitative Analysis,
Tools and Templates
Tags:
Capital Structures,
Finance,
Money-Zine.com,
Mortgages
Source:
Money-Zine.com

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Overview: A balloon mortgage may be a good option for many potential homeowners. The term of a balloon mortgage is usually rather short - from 1 to 10 years. The payments for this type of mortgage, however, are based on a term of 30 years. Balloon mortgages often carry a lower interest rate, and are often easier to qualify for than a traditional 30 year fixed rate mortgage. This benefit comes with a risk. At the end of the balloon's term, you need to pay off any outstanding balance of the loan.

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Format: HTML | Date: Jan 2008

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