Buy now and refinance when your income grows
Balloon mortgages allow first-time homebuyers and advancing professionals to purchase a home at a low interest rate. The balance of the mortgage is due in a lump sum at the end of the term. The homeowners then refinance the home to make the lump sum payment.
- Choose from various terms on balloon options
- Fixed interest rate for term of loan, usually lower than the 15-year rate
- Balloon payment due at end of term
- Can be refinanced to a fixed market rate for remainder of term
- Loan amounts start as little as $30,000
Whether you need money for remodeling, travel, college, debt consolidation or anything else, a home equity loan is a great way to finance your dreams.
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