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Welcome > Sitemap > For Sellers ...
For Home Sellers:
Why Sellers Choose Linda & Ryan Lowe - Why home sellers in State College, Bellefonte and Centre County choose Linda & Ryan Lowe.
Free Presentation - Free in-home listings presentation on marketing your State College, Bellefonte and Centre County, in Centre County Pennsylvania property.
Property Valuation - How much is your State College, Bellefonte and Centre County home worth?
What Did That Home Sell For? - What did that State College, Bellefonte and Centre County, Pennsylvania property or other real estate sell for?
Why Use A Realtor? - Selling your State College, Bellefonte and Centre County real estate on your own?
Go to Main Sitemap - Main sitemap sections include Find State College, Bellefonte and Centre County Homes, For Home Buyers, For Home Sellers, State College, Bellefonte and Centre County Information, Real Estate Resources, and About Linda & Ryan Lowe.
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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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Lenders in 14 states--California, New York, Oregon, Utah, Vermont and Wisconsin and 9 others--have what in common?
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Lender in these states must pay interest on funds held in escrow accounts. |
See More Real Estate Trivia > |
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