Texas Balloon Mortgages

Texas balloon mortgages offer borrowers a number of the advantages of adjustable rate mortgages, with some of the stability of a fixed rate mortgage. Essentially, balloon mortgages have a provision that states that after a specific period of time, the remaining balance of the mortgage (or balloon) needs to be paid in full. Until that date, the borrower has a fixed interest rate.

Click Here For Texas Balloon Mortgages!

Generally speaking, Texas balloon mortgages are quite similar to 30-year fixed rate loans. The monthly payments are usually calculated over a 30-year period. Where they differ is that once the borrower reaches the end of the loan's terms (typically three to 10 years) he must either pay off the entire remaining balance or refinance it. The main advantage of this type of loan rests in the lower available interest rates and monthly payments.

Consider Texas Balloon Mortgages

Why put yourself in a position where you will be responsible for a huge portion of the principal at once? Typically, balloon mortgages are chosen by individuals who do not plan on staying in their Texas homes past the end of their loan's term. As such, they are able to save money on their investment as it increases in value--hopefully making more money upon its sale.

At Southern Lending Corporation, we understand the importance of pairing borrowers with the appropriate mortgage plan. Fill out one of our online applications to get the process started, and one of our experts will contact you with more information. Alternatively, you can reach us directly by phone at 1-866-614-2700 ext 100 or via email.