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A Balloon loan is a mortgage in which the monthly payment is not intended to repay the entire loan. The final payment is a large lump sum of the remaining principal. It comes with a lower fixed rate, but the rate will usually expire after a period of years in which the borrower can then refinance.ENG's Balloon Mortgage Specialists can assist you on the details and pro's and con's of obtaining a Balloon mortgage. Fill out our no obligation application and you will be contacted within 24-hours with more information.
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