As with any type of financing, it is crucial that you inform yourself of all the ins and outs of it so you know exactly what you’re getting into with a balloon [...] A balloon mortgage is a type of financing where you have an interest rate that is fixed but only for a set period of time. Balloon mortgages, although comparable to adjustable rate mortgages, are a bit simpler because the rate is only adjusted once and this is at the end of your balloon term which we stated before is typically five to seven years.
Baltimore Real Estate
Information is deemed reliable but not guaranteed.