|
All agents are NOT alike! Find out why we are top real estate experts. Call us: 630-515-9500.
|
Find Out About the Latest Homes for Sale First!
We add our newest homes and other real estate listings to this web site first. It can be some time before they appear in the MLS.
Find Out More >
View All Offers >
|
The Veneris Team are one of The Top
Selling Real Estate Experts™
|
|
|
 |
 |
About Downers Grove: Moving to Downers Grove,
Illinois? Get info here... |
|
Relocating?: Free real estate
information & relocation package if you're relocating to Downers Grove,
IL |
|
School Information: Downers Grove schools and the education system in
Illinois: kindergarten, elementary, high schools, colleges &
universities |
|
Things To Do: Things to
do in Downers Grove: entertainment, dining, the arts, cultural events,
major league sports & sporting events, shopping malls, tourist attractions,
historic places, natural landmarks, and more |
|
Local Maps & Information Links: Downers Grove maps & local/Illinois web
site links for news & media, TV stations, radio stations, daily
Downers Grove newspapers, transportation, airports & bus terminals,
Illinois & local government, and more |
|
Local Weather: Weather
in Downers Grove, Illinois: spring, summer, winter, and fall
climate changes |
Please Sign Up For The
Latest Listings and the Latest Real Estate News
Financing Your Home >Balloon Mortgages
In loan terminology a "balloon" is the unpaid loan balance that must be paid in full on a specified due date. Federal savings and loan associations are permitted to make balloon mortgages with as little as five percent down and monthly payments that are smaller than the amount needed to fully amortize the debt. On the due date, which may be only a few years after the loan was made, the balance must be paid off or the loan must be renegotiated. Balloon borrowers must be cautious and plan carefully to avoid overlooking balloon payment obligations. It is easy to be lulled into complacency by the easy monthly payment terms.
Today's complex economics have produced a wide variety of options for potential borrowers, who are often surprised by how much house they can afford to buy. Loan approval is ultimately in the lender's hands, but your real estate agent can help you to determine your real buying power.
|
| Q |
To what process do the terms closing, escrow, settlement and passing papers refer?
|
| A |
These terms, which vary in different parts of the country, describe the conclusion of a real estate sale. |
 See More Real Estate Trivia > |
|
|
|
|
- NUMBER1EXPERT™ 
