What Is Balloon Financing
Contents Small monthly payments. Standard financing. final balloon payment Standards balloon payment qualified mortgage qualified The balloon payment needs to be paid in cash or via a new car loan. If you take out a 4 year loan to pay off the balloon payment, then you’re adding an additional 4 years of interest payments on top of what you already paid. It’s not uncommon to be making payments for up to 8 years on a balloon loan. A balloon loan is a loan that you pay off with a single,…
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