Posts Tagged with "Benefits"

Do Loans with Balloon Payments Work for You?

Thursday, November 17, 2011

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In mortgage-speak, a balloon payment is a payment that reduces the loan by other than the monthly payment. For example, say you structure a loan payment schedule of $1,400 a month, with a $5,000 additional payment due on March 15 of each year when you get your federal income tax refund.

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Does Fixed Rate Mortgages Work for You?

Wednesday, November 9, 2011

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Mortgage loans come with a menu of payment options, with the most popular being fixed and adjustable rate programs. Each option has its advantages and disadvantages, and the one that works best for you depends upon your financial situation. A fixed rate mortgage is one in which the loan is repaid in equal payments within [...]

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