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All agents are NOT alike! Find out why we are top real estate experts specializing in Bucks & Montgomery Counties. Call us: 215-654-6063.

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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
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What are considered the ideal conditions for a seller's market?

A 
In a seller's market, prices are firm and good houses are sold before advertised or as soon as they show up in the MLS.
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The Jacki Ruiz Team, REALTOR®, real estate agents and broker for Lansdale, Harleysville and Schwenksville, Pennsylvania home listings, property and land for sale - NUMBER1EXPERT(tm)

Jacki Ruiz
Keller Williams Real Estate

910 Harvest Dr, Suite 100
Blue Bell, PA 19422 USA
Direct: 610-764-4676
Office: 215-646-2900 x6063
jacki@jackiruizteam.com

The Jacki Ruiz Team is committed to making all your real estate transactions as successful and worry-free as possible.

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