A mortgage that has level monthly payments which are insufficient to amortize the loan so that a balloon, or lump sum payment is due at the end of the term. Frequently, balloon mortgages contain an opportunity to refinance when the balloon payment is due.
Disclaimer
This is not a loan commitment or guarantee of any kind. Terms and conditions apply.
Subject to borrower and property qualifications. Not all applicants will qualify. Rates and
terms are subject to change without notice.
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