Balloon Mortgage

A Balloon Mortgage can be a good choice if you will only live in your home for a few years or if you are expecting a financial windfall soon. Usually a Balloon Mortgage loan will need to be refinanced or paid off in full in a very short time, five or seven years perhaps.

A Balloon Mortgage has a substantially lower interest rate than a fixed rate mortgage and has a lower interest rate than an adjustable rate mortgage. This means that the monthly payment will be less, too. Even though a Balloon Mortgage is slated for an early payoff, the monthly payment is calculated as if it were a 30-year mortgage.

Another feature is that the down payment for this mortgage can be as little as five percent.    

The Mortgage Solution Directory has Purchase Money Mortgages and Refinance loans for every financing situation.  Our Refinance programs include Home Equity Loans and several Debt Consolidation Mortgages.  Other Home Mortgage Refinance programs include Cash Out Refinances and Home Improvement Loans that will enhance the value of your home.  Stated Income Loans and No Income Verification and No Doc loan programs are available for wage earners and the self employed.  First Time Home Buyers and Investment Property Mortgages are also available and you can apply online or call 800-331-4715 and speak to a loan specialist regarding your Home Mortgage Refinance or Purchase Money Mortgage.   The loan center can also advise you regarding Bankruptcy Mortgages.  Our Chapter 13 Buyout mortgage program can help you to get out of bankruptcy now and being repairing your credit profile.