A mortgage that has level monthly payments which are insufficient to amortize the loan so that a balloon, or lump sum payment is due at the end of the term. Frequently, balloon mortgages contain an opportunity to refinance when the balloon payment is due.
Global State Mortgage powered by APM | NMLS #1850
This material is provided for informational purposes only and is not guaranteed to be accurate or complete. The programs described may not include all available options or pricing structures. Rates, terms, programs, and underwriting policies are subject to change without notice. Refinancing may result in higher total finance charges over the life of the loan. This is not an offer to extend credit or a commitment to lend. All loans are subject to underwriting approval. Certain products may not be available in all states and restrictions may apply. Please consult your loan advisor for complete details. Equal Housing Opportunity.
