Balloon Mortgage
Balloon mortgages are a form of mortgage payment in which the borrower pays a low monthly repayment amount, but at the end of the loan period, the borrower has to pay a big lump sum amount which is the big balloon payment.
This kind of a mortgage is ideal for people who want to use the […]
Is taking a fixed rate mortgage the right option?
In a fixed rate mortgage, you pay a fixed amount that contributes towards your principal loan amount and you pay a fixed amount for the interest. This means that your monthly mortgage payments are the same for throughout the loan period, which can be ten, fifteen, thirty or forty five years. This feature gives […]