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Balloon mortgages are home loans that typically last for shorter periods of time, most are between 3 and 10 years, and these types of loans can allow the borrower to pay lower monthly payments and interest rates. Often when the loan period has ended the home owner is required to pay the remaining balance in full. When certain criteria are met lenders may convert the home loan to a fixed or adjustable rate mortgage. Joe can help you understand if this is the right loan for you.
Joe can be reached at 773-255-5989 or joe@joespisak.com
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