balloon mortgage pros and cons

Contents

  1. – Balloon Mortgage Pros and Cons. Getting a balloon mortgage is a great option for those who want a low, fixed-interest rate. With this mortgage, you have a shorter term (shorter than other types of loans) lasting only 5 to 7 years. On the other hand, obtaining this type of loan will leave you paying a huge lump sum of money t the end of the loan.

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