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logo
  • Home
  • Home Purchase
  • Refinance
  • Apply Now
  • Today's Rates
  • Resources
  • Loan Programs
  • Loan Process
  • Mortgage Basics
  • Mortgage Calculators
  • Online Forms
  • FAQ
  • About
  • Contact
  • Blog
  • (251) 616-0005

Balloon Mortgages

A balloon mortgage has an interest rate that is fixed for an initial amount of time. At the end of the term, the remaining principal balance is due. At this time, the borrower has a choice to either refinance or pay off the remaining balance.

There are no penalties to paying off a balloon mortgage loan before it is due. Borrowers may refinance at any time during the life of the loan.

Balloon loans typically have either 5 or 7-year terms. For example, a 7-year balloon mortgage with an interest rate of 7.5% would feature this interest rate for the entire term. After 7 years, the remaining loan balance would become due.

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About Us

We treat our clients like family.  We love what we do, and it show's.  Call Now to begin your pre-qualification.

Company NMLS: 369470
www.nmlsconsumeraccess.org

Contact Us

307 S McKenzie St, Room 114
FOLEY, Alabama 36535
Phone: (251) 616-0005
blehmann@usa-mortgage.com

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