Fixed Rate 5 Year Balloon

A Fixed Rate 5 Year Balloon can be used to purchase or refinance a primary, secondary or investment 1-4 family dwelling. This loan will be amortized over 30 years with a 5 year balloon and 80% of the property value can be borrowed.

Benefits Include:

Low Payment

A 30 year amortization allows for manageable monthly payments.

Local

Your loan stays at the credit union, not sold on the secondary market.

Save on Closing Costs and Taxes

Closing cost are lower than secondary market and interest paid on a HELOC may be tax deductible (consult with tax professional).

Staying in Home Short Term

A 5 Year Balloon may be the perfect choice if you are not planning on owning the property for a long period of time.

No Escrow Required

For more information or to get started on your Fixed Rate 5 Year Balloon loan please call our Mortgage Department at 722-9242.