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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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Q	What trendy and highly unusual hotel must be totally rebuilt every year?
A	Sweden's popular Ice Hotel, which has 60 double rooms, 25 suites and an interior temperature of 20 degrees, starts melting to the ground in May and is rebuilt every winter.
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The Schlueter-Shainsky Team, Real Estate Agents, and brokers for SW Portland, Lake Oswego and West Linn Oregon home listings, property and land for sale - NUMBER1EXPERT(tm)

Debbie Schlueter
John L. Scott Real Estate
10260 SW Greenburg Road #250
Portland
OR 97223
Direct: 503-245-7423
Debbie Mobile: 503-481-4540
M - Mobile: 503-319-5700
Fax: 503-293-4300
portlandsbestrealtor@NUMBER1EXPERT.com
Debbie Schlueter, a veteran of the Portland real estate market, brings you twenty-seven years of experience of buying and selling homes successfully for her clients. Having worked the area for this extended period of time, she has extensive knowledge of the many suburban areas surrounding Portland as well as the Portland Metro area itself. Mike and his family moved to Portland over seven years ago from the Santa Rosa, California area, where he sold real estate for five years in the new construction, resale, investment and land sales markets. An Associate Broker in Portland since 1992, he brings a wealth of knowledge to the team. Call or Email Debbie or Mike today!

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