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Impact Mortgage Network, Inc. offers balloon mortgage programs designed to fit your current financial needs.
Balloon mortgages are home loans that typically last for shorter periods of time, most are between 3 to 10 years, and these types of loans allow the borrower to pay lower monthly payments and interest rates. Often, when the loan period has ended, the home owner is required to pay the remaining balance in full. The final payment is called a balloon payment because of its large size. Because borrowers may not have the resources to make the balloon payment at the end of the loan term, lenders may convert the home loan to a fixed or adjustable rate mortgage.
Contact Impact Mortgage Network, Inc. to discuss your best home loan options by calling 877-857-7600. |
