Mortgage Basics

What is a 5 year balloon? Payments on 5-Year Balloon Loans. One kind of balloon loan, a five-year balloon loan, has a loan life of 5 years. At the end, the borrower must make a large payment (known as a balloon payment) in order to repay the mortgage. Read more on www.home.loans For the first … Read more

What is mortgage in simple words? In simple terms, a mortgage is a type of loan, just like an auto-loan or financing for jewelry. Specifically it is a loan in which a person borrows money to buy or refinance a house. If you are borrowing money to buy a home, you will need a home … Read more