Balloon Mortgage Calculator

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What Is A Balloon Mortgage?

A balloon mortgage is a mortgage in which a large portion of the borrowed principal is repaid in a single payment at the end of the loan period. This large payment is called the balloon payment.

Balloon mortgages are often used when a borrower expects a large cash inflow as a result of refinancing or selling the property before the end of the loan term.

Just like any other type of mortgage, this loan type also carries some risk. Before you decide to take such a loan, make sure you'll be able to make the balloon payment before the due date.

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