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Balloon Mortgages

A balloon mortgage has an interest rate that is fixed for an initial amount of time. At the end of the term, the remaining principal balance is due. At this time, the borrower has a choice to either refinance or pay off the remaining balance.

There are no penalties to paying off a balloon mortgage loan before it is due. Borrowers may refinance at any time during the life of the loan.

Balloon loans typically have either 5 or 7-year terms. For example, a 7-year balloon mortgage with an interest rate of 7.5% would feature this interest rate for the entire term. After 7 years, the remaining loan balance would become due.

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About Us

At Cross State Funding, we combine integrity and expertise to find competitive mortgage options for every client. Leveraging a top-tier digital marketplace, we connect with hundreds of lenders to secure competitive rates and terms. Our team is committed to being available whenever you need us, ensuring you have a trusted partner throughout your financial journey.

Company NMLS: 98185
www.nmlsconsumeraccess.org



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Cross State Funding Crop.
416 Oliver Street
North Tonawanda, NY 14120
Phone: 1 877 234 1898
Jesse@CrossStateFunding.com 


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