释义 |
Definition of balloon mortgage in US English: balloon mortgagenoun A mortgage in which a large portion of the borrowed principal is repaid in a single payment at the end of the loan period. Example sentencesExamples - Unlike many other mortgages, balloon mortgages do not pay themselves off at the end of the loan term.
- The advantage of a balloon mortgage is that you get the stable payment of a fixed-rate loan, but have the flexibility of a short-term loan.
- It might help to compare balloon mortgage financing side by side with standard fixed rate mortgage financing.
- Many borrowers of balloon mortgages refinance their loan before the balloon payment is due.
- Choose a balloon mortgage loan for substantially lower initial rates, or if your credit limits the other types of mortgage that you can apply of qualify for.
- At the time of this writing, I am not aware that any lenders are offering balloon mortgages in jumbo loan amounts.
- The most popular balloon mortgages have a fixed rate period of either five or seven years with a thirty-year amortization and no pre-payment penalty.
- Most balloon mortgages are for 3 to 7 years.
- The 7-year balloon mortgage is for those who relocate regularly or who plan to stay in their home for less than seven years.
- With a 5 year balloon mortgage, the term is 5 years, but the payments will be calculated on a 30 year term.
- At the due date, you can either refinance the balloon mortgage or pay it off in cash.
- A balloon mortgage is a non-amortizing loan and does not pay itself off at the end of the loan term.
- The most common balloon mortgage terms are 5 years and 7 years.
- The balloon mortgage is a fixed-rate mortgage with a shorter term than traditional mortgages have.
- The 5 year balloon mortgage will have the same interest rate and payment for the first 5 years of the mortgage.
- Some balloon mortgages feature a conversion option at the end of the initial period.
- A balloon mortgage is one of the many non-traditional mortgages available to real estate buyers.
- The lender may also reserve the option to call the loan due with 30 days notice at that time, making this loan similar to a balloon mortgage in some cases.
- Qualifications for a balloon mortgage vary depending on the lender you choose, but most require at least a 20% down payment.
- A balloon mortgage has a lower rate and lower monthly payments than a fixed-rate mortgage.
Definition of balloon mortgage in US English: balloon mortgagenoun A mortgage in which a large portion of the borrowed principal is repaid in a single payment at the end of the loan period. Example sentencesExamples - The advantage of a balloon mortgage is that you get the stable payment of a fixed-rate loan, but have the flexibility of a short-term loan.
- At the due date, you can either refinance the balloon mortgage or pay it off in cash.
- With a 5 year balloon mortgage, the term is 5 years, but the payments will be calculated on a 30 year term.
- A balloon mortgage is a non-amortizing loan and does not pay itself off at the end of the loan term.
- A balloon mortgage is one of the many non-traditional mortgages available to real estate buyers.
- The lender may also reserve the option to call the loan due with 30 days notice at that time, making this loan similar to a balloon mortgage in some cases.
- Some balloon mortgages feature a conversion option at the end of the initial period.
- Many borrowers of balloon mortgages refinance their loan before the balloon payment is due.
- It might help to compare balloon mortgage financing side by side with standard fixed rate mortgage financing.
- The 7-year balloon mortgage is for those who relocate regularly or who plan to stay in their home for less than seven years.
- Most balloon mortgages are for 3 to 7 years.
- Choose a balloon mortgage loan for substantially lower initial rates, or if your credit limits the other types of mortgage that you can apply of qualify for.
- Qualifications for a balloon mortgage vary depending on the lender you choose, but most require at least a 20% down payment.
- Unlike many other mortgages, balloon mortgages do not pay themselves off at the end of the loan term.
- At the time of this writing, I am not aware that any lenders are offering balloon mortgages in jumbo loan amounts.
- The balloon mortgage is a fixed-rate mortgage with a shorter term than traditional mortgages have.
- The most common balloon mortgage terms are 5 years and 7 years.
- The 5 year balloon mortgage will have the same interest rate and payment for the first 5 years of the mortgage.
- A balloon mortgage has a lower rate and lower monthly payments than a fixed-rate mortgage.
- The most popular balloon mortgages have a fixed rate period of either five or seven years with a thirty-year amortization and no pre-payment penalty.
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