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Real Estate Tips

Financing Your Home >Balloon Mortgages

In loan terminology a "balloon" is the unpaid loan balance that must be paid in full on a specified due date. Federal savings and loan associations are permitted to make balloon mortgages with as little as five percent down and monthly payments that are smaller than the amount needed to fully amortize the debt. On the due date, which may be only a few years after the loan was made, the balance must be paid off or the loan must be renegotiated. Balloon borrowers must be cautious and plan carefully to avoid overlooking balloon payment obligations. It is easy to be lulled into complacency by the easy monthly payment terms.

Today's complex economics have produced a wide variety of options for potential borrowers, who are often surprised by how much house they can afford to buy. Loan approval is ultimately in the lender's hands, but your real estate agent can help you to determine your real buying power.

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Real Estate Trivia

Q 
What four states in the Southwest are noted for having boundaries that touch.

A 
New Mexico, Arizona, Utah and Colorado, referred to as the "Four Corners", have adjoining boundaries.
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Lela Ashkarian, REALTOR®, real estate agent and broker for Marathon Key, Duck Key, Key Colony Beach, Islamorada and Coco Plum Beach, Florida home listings, property and land for sale - NUMBER1EXPERT

'Lela' Ashkarian P.A. CRS, GRI, e-PRO, SFR
Coldwell Banker Schmitt Real Estate

11050 Overseas Highway
Marathon, FL. 33050
Direct: 305-395-0814
Mobile: 305-395-0814
Private Land Line: 305-289-6492
eFax: 305-946-7771
Office Line: 305-743-5181
Email: lela@coldwellbanker.com
Email: lelasells@bellsouth.net
email: 395.0814@305.ac
email: aslanlelalu@gmail.com

Florida Keys Real Estate Top Selling and Listing Agent, Member of Primier Upscale Preview Coldwell Banker President Club, specializes in Luxury homes, condos, townhouses in Marathon and Middle Keys, Key Colony Beach Real Estate, Coco Plum beaches, Grassy Key, Duck Key Shark Key and Upper Keys Islamorada. 305-395-0814 or 305-289-6492 Living in Florida Keys since 1983. I will and can help you find that perfect home in the Marathon, Duck Key, Key Colony Beach, Coco Plum and Islamorada Upper Florida Keys. Call Lela Ashkarian, Coldwell Banker Schmitt Real Estate, 305-395-0814 Real Estate Florida Keys Top CRS, GRI, e-PRO Realtor.

CRS ePro GRI Equal Housing MLS REALTOR CRS RELO




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