As the housing market continues to heat up, many borrowers are looking for creative ways to finance their dream home. Balloon mortgages may seem like a tempting option, offering lower initial payments and the promise of refinancing before the balloon payment is due.
But before you sign on the dotted line, it’s important to understand the risks and potential pitfalls of balloon mortgages.
What is a Balloon Mortgage?
|Inflated Promises: The Truth About Balloon Mortgages and What You Need to Know