A balloon mortgage is short in its duration and has some aspects of a fixed mortgage. This type of loan offers various levels of payments, and does not fully amortize over its length. Most balloon mortgages last anywhere from five to seven years. Once you get to the end of the loan, there is a remaining balance that needs to be paid in full. This is usually done by refinancing your current mortgage home loan. If you have any more questions about balloon mortgages contact Maryland Mortgage Specialists.com today

More Maryland Mortgage Specialists.com Loan Products Information:

• Fixed rate mortgages
  
• Adjustable rate mortgages
  
• Standard ARMs and the differences
  
• Reverse Mortgages
  
• Balloon Mortgages
  
• Interest rate buydowns
  

Maryland Mortgage Specialists.com - Home Information

Getting a loan is a very simple process with us. Whether you are refinancing or purchasing a new home all you need to do initially is send us two years of w2’s, one month of paystubs, and a copy of your homeowner’s insurance policy. We can then approve you for a loan. It is truly that simple. The mortgage broker will be impressed and have proven to him your ability and desire to pay the loan. For any further questions on what to send when you make contact with a loan officer, contact Maryland Mortgage Specialists.com.

Maryland Mortgage Specialists.com Featured Cities Real Estate Information

• Baltimore
• Bethesda
• Columbia
• Frederick
• Annapolis
• Silver Spring
  
• Bel Air
  
• Ocean City
  
• La Plata
  
• Cumberland