How to Understand Balloon Mortgages?

How to Understand Balloon Mortgages?
by

1 Answer

Answer :

There are a large number of mortgage types. One of these types is a balloon mortgage. A balloon mortgage differs from a regular 30 year fixed. A balloon mortgage calculates the payments similarly, but the payoff date is usually long before the 30-year mark. Balloon mortgages have their definite pros and cons and people interested in them should look into every aspect of them before making a decision.With a regular 30-year fixed mortgage, the homeowner will generally make standard payments until the final payment 30 years after the loan origination. The payments to the principle of the loan are exactly the same for the entire 30 years. The only amount that changes is the interest payment.A balloon mortgage is usually paid off in less than 15 years. This type of mortgage allows the homeowner
by
selected by

Related questions

What do you think about people who walk away from their mortgages/houses?

Description : What do you think about people who walk away from their mortgages/houses?

Last Answer : Obviously, these people are not fulfilling their obligation to make payments as promised. needless to say, they can forget attempting to buy anything on credit ever again in their lifetime. the ... out, just like getting a divorce after being married just six months, without seeking counsel.

I want to shop for the best rate on mortgages, but I hear too many credit inquiries is bad. How many should I apply for?

Description : I want to shop for the best rate on mortgages, but I hear too many credit inquiries is bad. How many should I apply for?

Last Answer : Your credit needs to be pulled once, so pick your lender wisley. Do not let your credit get pulled more then once in the same month. Your broker should be able to give a ball park, then you'll need to ... will need the info so just get it out of the way it helps him/her give you a ball park.

About home mortgages and bailouts?

Description : About home mortgages and bailouts?

Last Answer : Seems good to me.

Why are mortgages like burglars? -Riddles

Description : Why are mortgages like burglars? -Riddles

Last Answer : They secure (seek your) money.

who provides the cheapest mortgages

Description : Do you have experience with any company?

Last Answer : You can't answer like this. It is not the cheapest and most expensive on the market. It depends on how the bank evaluates your creditworthiness. Each bank has slightly different conditions and requirements.

APR Calculator for Adjustable Rate Mortgages?

Description : APR Calculator for Adjustable Rate Mortgages?

Last Answer : APR Calculator for Adjustable Rate MortgagesUse this calculator to determine the Annual Percentage Rate(APR) of your Adjustable Rate Mortgage (ARM). Knowing your APR canhelp you compare different ARMs with different fees and terms.

GRANT FROM OBAMA FOR MORTGAGE'S UPSIDE DOWN AND HOMESTEAD SENIOR CITIZEN ?

Description : GRANT FROM OBAMA FOR MORTGAGE'S UPSIDE DOWN AND HOMESTEAD SENIOR CITIZEN ?

Last Answer : GRANT FROM OBAMA FOR MORTGAGE UPSIDE DOWN AND HOMESTEADED SENIOR CITIZEN

Which companies offers the best rates when it comes to refinancing mortgages at a great low fixed rate?

Description : Which companies offers the best rates when it comes to refinancing mortgages at a great low fixed rate?

Last Answer : ING Direct Mortgages offers the best rates when it comes to refinancing mortagages at a great low fixed rate. You can find Great rate 3.875% Rate 3.580% APR with no points, no application fees at www.ingdirect.com

Where can i find a bank that does reverse mortgages for seniors ?

Description : Where can i find a bank that does reverse mortgages for seniors ?

Last Answer : You can go to http://www.bestreversemortgage.com/ to find information on what banks do reverse mortgages for senions. This site also gives a lot of information regard reverse mortgages and the fraud that is being targeted towards seniors.

What do you need to know about reverse mortgages for seniors?

Description : What do you need to know about reverse mortgages for seniors?

Last Answer : You should find out the terms and costs for getting reverse mortgages for seniors

What is the main benefit of fixed rate mortgages?

Description : What is the main benefit of fixed rate mortgages?

Last Answer : In a fixed rate mortgage, the interest rate remains the same for the entire term of the loan, which means that the payment remains the same throughout. The payment on an adjustable rate mortgage is ... mortgage brings with it no surprises. Have a look at this website: http://www.mortgage101.com/

Mortgages with only 5% down payment?

Description : Mortgages with only 5% down payment?

Last Answer : a mortgage is a loan on what you have paid in on your house. it all depends how many payments you have made.

Does Bank of America offer reverse mortgages?

Description : Does Bank of America offer reverse mortgages?

Last Answer : Yes, you can get a reverse mortgage from Bank of America. In order to see if their rates are any better than Wells Fargo, you will have to call both banks and give them some information about you.

Are fixed mortgages better than adjustable types now?

Description : Are fixed mortgages better than adjustable types now?

Last Answer : A big advantage of fixed rate mortgages is that the rate remains fixed. If interest rates were to rise in the future, your fixed rate mortgage would protect you from that rise. However, fixed rate mortgage rates are generally higher than adjustable rate mortgages.

What are fixed mortgages and what do they do?

Description : What are fixed mortgages and what do they do?

Last Answer : You can get a loan with a fixed interest rate or a variable interest rate. The interest rate is the extra amount of money you have to pay back for taking out the loan. A fixed rate doesn't ... loan. If the economy does poorly, you might save money in a fixed rate because variable rates will spike.

Which of the following is/are functions of CERSAI? A. check frauds in lending against equitable mortgages B. maintains a central registry of equitable mortgages C. Provides loan D. Both (A) and (B) E. None of these

Description : Which of the following is/are functions of CERSAI? A. check frauds in lending against equitable mortgages B. maintains a central registry of equitable mortgages C. Provides loan D. Both (A) and (B) E. None of these

Last Answer : D. Both (A) and (B) Explanation: CERSAI was primarily created to check frauds in lending against equitable mortgages, in which people would take multiple loans on the same asset from different ... and hypothecation as well as to start registration of all other types of mortgages used in India.

Is this a trick balloon?

Description : Is this a trick balloon?

Last Answer : The same way you get to Carnegie Hall.

How familiar are you with Gastric Balloon procedure/Surgery? (Read Details).

Description : How familiar are you with Gastric Balloon procedure/Surgery? (Read Details).

Last Answer : answer:I don't know about the balloon but about the bypass, which a coworker had done. There seem to be a variety of procedures now with the same intention: reduce the amount of digestion and ... intake with things like milkshakes. They can also drink alcohol and get drunk quicker, and many do so.

What would happen if you could fill a balloon with a vacuum?

Description : What would happen if you could fill a balloon with a vacuum?

Last Answer : It would suck in on itself. It would not maintain its shape.

How long would a latex balloon filled with hydrogen last?

Description : How long would a latex balloon filled with hydrogen last?

Last Answer : No. The hydrogen atom is even smaller than the helium atom. So it would definitely not last longer. My guess is that it would probably be about the same, or slightly shorter.

If you could be any Macy's Thanksgiving Day Parade Balloon, which would you be?

Description : If you could be any Macy's Thanksgiving Day Parade Balloon, which would you be?

Last Answer : Mother Goose of course! :-)

What happens when you let go of a balloon?

Description : What happens when you let go of a balloon?

Last Answer : answer:I'll be back to give @worriedguy a GA for whatever he's going to say. He'll nail the answer. You'll see. Well, I expected more Since helium is such a light gas the molecules can ... is going to float highest (with free hydrogen), but I don't think it can escape the atmosphere completely.

Before flight, be it by balloon or winged craft, is there any record of someone being flung some distance?

Description : Before flight, be it by balloon or winged craft, is there any record of someone being flung some distance?

Last Answer : I just recently watched a MythBusters episode about the myth of immigrants being flung over the border walls into the US, using a slingshot method. They determined that any human body being flung like that, ... done, many years ago.. the person who flung themselves, didn't live to tell the tale.

At what point is it too late to let go of a balloon?

Description : At what point is it too late to let go of a balloon?

Last Answer : You think you could survive a 70 foot fall? That’s around a 6.5 story building. I’d let go when I thought I couldn’t control the situation which would be as soon as the balloon took me 1 inch off the ground.

How do spell the sound of blowing up a balloon?

Description : How do spell the sound of blowing up a balloon?

Last Answer : tsuuwup.

What are those Windows 7 Tray balloon notifications?

Description : What are those Windows 7 Tray balloon notifications?

Last Answer : You probably can’t unless you check the programs residing in the tray on the far right corner. Your best solution would be to look at the balloons immediately after they appear.

Did balloon boys' parents get a just sentence?

Description : Did balloon boys' parents get a just sentence?

Last Answer : Good! The media has enough trouble recognizing real news as it is without hoaxes such as theirs.

How long does helium last in a mylar balloon and does it deflate or stop floating because the helium escapes, or does helium degrade?

Description : How long does helium last in a mylar balloon and does it deflate or stop floating because the helium escapes, or does helium degrade?

Last Answer : Helium can’t degrade, it merely filters out a few molecules at a time, leaving behind other gasses or deflating the balloon completely.

Have they ever created a container that could contain a vacuum and withstand the pressure differences and be like a balloon and float?

Description : Have they ever created a container that could contain a vacuum and withstand the pressure differences and be like a balloon and float?

Last Answer : Yes, it’s easy enough to make a vacuum container, but no, it will not float, it will be heavier than air. To make it float, you need to fill it with something lighter than air (helium, hydrogen, hot air) to compensate for the weight of the container.

What happens when you inflate a balloon on a submarine?

Description : What happens when you inflate a balloon on a submarine?

Last Answer : nothing it’s like inflating a baloon on an airplane

Do you think charges should be filed against anyone in the "Balloon Boy" case?

Description : Do you think charges should be filed against anyone in the "Balloon Boy" case?

Last Answer : Press charges for what?

What do you think of 'Balloon Boy'?

Description : What do you think of 'Balloon Boy'?

Last Answer : I think he’s grounded.

Have you ever been in a hot air balloon?

Description : Have you ever been in a hot air balloon?

Last Answer : I grew up with this type of activity. My aunt makes hot air balloons for Minnesota, London Canada and Wisconsin. It is really a beautiful site when they are all going up for a festival :-)

Hot air balloon ride in San Francisco?

Description : Hot air balloon ride in San Francisco?

Last Answer : I think you’ll fid what you are looking for here

What is an occupation that has three sets of double letters such as balloon has two sets of double letters ll and oo?

Description : What is an occupation that has three sets of double letters such as balloon has two sets of double letters ll and oo?

Last Answer : Trsk tsk. Cheating on TTT is a no-no, remember?.

A 3.2 m diameter balloon is filled with Helium. The total weight of balloon, gas and pay load is 10 kg kg. In an isothermal atmosphere having conditions identical to N.T.P. the balloon will rise to a height of about a.6000 m b.1500 m c.3000 m d.2000 m e.1000 m

Description : A 3.2 m diameter balloon is filled with Helium. The total weight of balloon, gas and pay load is 10 kg kg. In an isothermal atmosphere having conditions identical to N.T.P. the balloon will rise to a height of about a.6000 m b.1500 m c.3000 m d.2000 m e.1000 m

Last Answer : a. 6000 m

Which of the following is not a projectile? a.Bullet coming out of a revolver b.Arrow released from a bow c.Lifting of a balloon d.Throwing a cricket ball from one player to another e.None of the above

Description : Which of the following is not a projectile? a.Bullet coming out of a revolver b.Arrow released from a bow c.Lifting of a balloon d.Throwing a cricket ball from one player to another e.None of the above

Last Answer : d. Throwing a cricket ball from one player to another

Which of the following is an example of a projectile? a.Launching of a satellite b.Taking off of an aircraft c.Lifting of a balloon d.Throwing of a cricket ball by a player e.None of the above

Description : Which of the following is an example of a projectile? a.Launching of a satellite b.Taking off of an aircraft c.Lifting of a balloon d.Throwing of a cricket ball by a player e.None of the above

Last Answer : d. Throwing of a cricket ball by a player

if the top of a balloon cactus fall's off and still see root can it still grow.

Description : if the top of a balloon cactus fall's off and still see root can it still grow.

Last Answer : It should grow, and you can root the broken top by laying on the sandy soil mix. It will take a few weeks to see little strings start..........they are the roots, use tweezers to transplant it.

What did the balloon say to the pin? -Riddles

Description : What did the balloon say to the pin? -Riddles

Last Answer : Hi, Buster.

One sunny afternoon, three men go for a ride on a hot air balloon over the Sahara desert. An hour into the trip, the balloon begins to lose altitude. A month later, someone found one of the ballooners laying on the desert sand dead, naked, and holding half a toothpick. What happened to him? -Riddles

Description : One sunny afternoon, three men go for a ride on a hot air balloon over the Sahara desert. An hour into the trip, the balloon begins to lose altitude. A month later, someone found one of the ballooners laying on the desert sand dead, naked, and holding half a toothpick. What happened to him? -Riddles

Last Answer : As the balloon lost altitude, the men took of their clothes and threw them overboard to decrease the weight of the balloon. The balloon continued to drop so the men drew straws to see who would be forced to jump. The dead man in the desert drew the shortest one (the half toothpick).

Robert and David were preparing to have a water balloon fight. 'No Fair' cried Robert, 'You have 3 times as many as I do!' David said 'Fine!' and gave Robert 10 more balloons. 'Still not fair!' argued Robert, 'You still have twice as many as I do.' How many more balloons must David give Robert for them to have the same number? -Riddles

Description : Robert and David were preparing to have a water balloon fight. 'No Fair' cried Robert, 'You have 3 times as many as I do!' David said 'Fine!' and gave Robert 10 more balloons. 'Still not fair!' ... as I do.' How many more balloons must David give Robert for them to have the same number? -Riddles

Last Answer : David must give Robert another 20 water balloons, giving them each 60. Robert started with 30 water balloons and David with 90.

The radius of a spherical balloon increases from 7cm to 14cm as air is being pumped into it. Find the ratio of surface areas of the balloon in the two cases. -Maths 9th

Description : The radius of a spherical balloon increases from 7cm to 14cm as air is being pumped into it. Find the ratio of surface areas of the balloon in the two cases. -Maths 9th

Last Answer : Let r1 and r2 be the radii of spherical balloon and spherical balloon when air is pumped into it respectively. So r1 = 7cm r2 = 14 cm Now, Required ratio = (initial surface area)/(Surface area after pumping air into ... = (7/14)2 = (1/2)2 = ¼ Therefore, the ratio between the surface areas is 1:4.

What was the first video game character to have a balloon featured in the Macy’s Thanksgiving Day Parade? -Gaming

Description : What was the first video game character to have a balloon featured in the Macy’s Thanksgiving Day Parade? -Gaming

Last Answer : As such, Sega of America would sponsor a balloon representing the titular character in the 1993 Macy's Thanksgiving Day Parade, to promote his upcoming video game Sonic the Hedgehog 3. Sonic broke record as being the first-ever video game character in the Parade's history to become a giant balloon.

25. What artist sold a balloon dog for $58.4 million? -Music and Art

Description : 25. What artist sold a balloon dog for $58.4 million? -Music and Art

Last Answer : 25. Jeff Koons

The radius of a spherical balloon increases from 6 cm to 12 cm as air is being pumped into it. -Maths 9th

Description : The radius of a spherical balloon increases from 6 cm to 12 cm as air is being pumped into it. -Maths 9th

Last Answer : Surface area of a spherical balloon whose radius is 6 cm. = 4π × 6 × 6 cm2 Surface area of a spherical balloon whose radius is 12 cm. = 4π × 12 × 12 cm2 ∴ Ration of surface areas = 4π × 6 × 6 / 4π × 12 × 12 = 1 / 4 = 1 : 4

The radius of a spherical balloon increases from 6 cm to 12 cm as air is being pumped into it. -Maths 9th

Description : The radius of a spherical balloon increases from 6 cm to 12 cm as air is being pumped into it. -Maths 9th

Last Answer : Surface area of a spherical balloon whose radius is 6 cm. = 4π × 6 × 6 cm2 Surface area of a spherical balloon whose radius is 12 cm. = 4π × 12 × 12 cm2 ∴ Ration of surface areas = 4π × 6 × 6 / 4π × 12 × 12 = 1 / 4 = 1 : 4

The radius of a hemispherical balloon increases from 6 cm to 12 cm as air is being pumped into it. -Maths 9th

Description : The radius of a hemispherical balloon increases from 6 cm to 12 cm as air is being pumped into it. -Maths 9th

Last Answer : NEED ANSWER

The radius of a hemispherical balloon increases from 6 cm to 12 cm as air is being pumped into it. -Maths 9th

Description : The radius of a hemispherical balloon increases from 6 cm to 12 cm as air is being pumped into it. -Maths 9th

Last Answer : Find the ratios of the surface areas of the balloon in the two cases.

The radius of a spherical balloon increases -Maths 9th

Description : The radius of a spherical balloon increases -Maths 9th

Last Answer : Radius of the spherical balloon = r1 = 7 cm Surface area s1 of the balloon = 4 πr12 = 4 x 22/7 x 72 = 616 cm2 Radius of the spherical balloon when air is pumped into it = r2 = 14 cm Surface area S2 of the balloon = 4 πr22 = 4 x ... S 1/S 2 = 4 x 22/7 x 7 2/4 x 22/7 x14 2 = 1/4 ∴ S1 : S2 = 1 : 4