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Balloon Mortgages

If you don't plan to stay in your house for a long period of time and you want loan with a lower fixed interest rate, then the balloon mortgage is the one that best fits your needs. wWith a BAloon Mortgage your monthly payments are fixed for the five-, seven- or 10-year term and final "balloon" payment for the entire remaining balance is due at the end of the term.

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benefit from:

  • paying a lower interest rate for a shorter period of time, generally 5,7 10 years - You choose!
  • making pre-payments to the principal amount on the loan without penalty
  • use savings for other personal needs

So we can further assist you, please call us at 787-751-2266.

  • Payment Example: A $100,000 7-Year fixed-rate balloon mortgage with 6.50% interest rate and a 6.80% APR will have 83 monthly payments of principal and interest of $632 and a final global payment of principal of $91,048 plus accrued interest at the 84 month.
  • Subject to credit approval. Certain terms, condtions and restrictions apply.

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