BALLOON MORTGAGE

Our BALLOON MORTGAGE RATES & TERMS:

Property Types

Single family, condos, townhomes, 2-4 units

Loan Amounts

$75,000 – $970,800

Term

Fixed for specific period. Ending with final lump sum payment.

A balloon mortgage loan is a home loan with an initial period of low—sometimes interest-only— payments, at the end of which the borrower must pay the balance in full. A balloon mortgage is usually short-term, often five to seven years.

With their lower monthly payments, balloon mortgages can be advantageous to buyers planning to be in the home for a short term. Financing a property with balloon mortgage loans is a quick and straightforward process for an experienced lender like American Heritage Lending.

 

BALLOON MORTGAGE FINANCING

People who expect to stay in their home for only a short period of time may opt for a balloon mortgage. It comes with low monthly payments and a much lower overall cost since it is paid off in a few years rather than in 20 or 30 years like a conventional mortgage.

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WHY CHOOSE A BaLLOON MORTGAGE LOAN?

Many buyers will likely have difficulty getting loans through a traditional lender like a bank or credit union. With American Heritage Lending, we offer you a variety of financing solutions to fit your needs.

We understand the need to move quickly when opportunities arise. Our application, appraisal, and approval process can be accomplished in just a few days to ensure you can negotiate effectively with the property holder.

USE OUR BALLOON MORTGAGE LOANS WHEN TRADITIONAL LENDING SOLUTIONS ARE NOT AVAILABLE

People who expect to stay in their home for only a short period of time may opt for a balloon mortgage. It comes with low monthly payments and a much lower overall cost since it is paid off in a few years rather than in 20 or 30 years like a conventional mortgage.

Others may intend to stay in their homes and refinance before the balloon payment is due. They may be counting on a higher income by then, and they are sure they will be able to handle a larger monthly payment. Or they may foresee a fall in interest rates.

Another type of homebuyer who might find the balloon mortgage appealing is a professional whose primary income comes as a year-end bonus. If that bonus is a certainty, it allows the buyer to get into the home earlier.

 

AMERICAN HERITAGE LENDING, LLC STATE LICENSING INFORMATION - NMLS ID: 93735
Click here for access to the Consumer NMLS

FHA Lender ID 27897-0000-1 ⋅ VA Lender ID 902138-00-00
State licenses: Arizona Mortgage Banker License 0912684; California - Department of Financial Protection and Innovation, Pursuant to California Financing Law License Number 603G668; California - DRE Real Estate Corporation License Endorsement 01844643; Colorado Mortgage Company Registration 93735; Florida Mortgage Lender License MLD94; Iowa Mortgage Banker License 2018-0155; Maryland Mortgage Lender License 18412; Nebraska Mortgage Banker License 93735; Oregon Mortgage Lending License ML-4808; Virginia Broker License MC-5775; Virginia Lender License MC-5775; Washington Consumer Loan Company License CL-93735.

Submitting a form from this website does not obligate you to enter into an agreement with American Heritage Lending, LLC; nor does it constitute an application for a mortgage loan. Submitting this form does authorize yourbridgelender.com to deliver this form to a American Heritage Lending, LLC mortgage loan officer who will contact you by phone and/or email to respond to your inquiry into the American Heritage Lending, LLC mortgage programs and financing solutions.

American Heritage Lending, LLC, is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age (provided you have the capacity to enter into a binding contract), because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. The federal agency that administers our compliance with these federal laws is: Federal Trade Commission, Equal Credit Opportunity, Washington, DC 20580.