Balloon mortgages are home loans that typically last for shorter periods of time, most are between 3 and 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. When certain criteria are met lenders may convert the home loan to a fixed or adjustable rate mortgage.
NMLS Company ID #168026 Office: 912.920.0770 Fax: 912.920.9936 785 King George Blvd Suite 201 Savannah GA 31419 Email: hmcinfo1@aol.com Harbor Mortgage Company Georgia Residential Mortgage Licensee #16551
