The Benefits of a Balloon Mortgage

Balloon mortgages can be beneficial if you are only planning on staying in your home for five to seven years, or you are willing to pay off the balance, refinance, or sell at the end of the term. Because of the short duration, most lending institutions offer very low interest rates since they are taking on less risk. Borrowers will also have smaller mortgage payments, giving them more financial freedom each month. This type of mortgage is perfect for those in the house flipping/renovation business. Read the full article here: