Balloon mortgages are home loans that typically last for shorter periods of time, most are between 3 and 10 years, and these types of loans allow the borrower to pay lower monthly payments and interest rates.

Often when the loan period has ended the home owner is required to pay the remaining balance in full.

When certain criteria are met lenders may convert the home loan to a fixed or adjustable rate mortgage.

	First name * Last name * E-mail address * Work phone * New loan amout * $ Loan purpose Purchase Refinance Refinance & Cash out Loan program Fixed Adjustable Interest only Property state AK AL AR AZ CA CO CT DC DE FL GA HI IA ID IL IN KS KY LA MA MD ME MI MN MO MS MT NC ND NE NH NJ NM NV NY OH OK OR PA RI SC SD TN TX UT VA VT WA WI WV WY Property use Primary residence Second home Rental or investment Property type Single family Condo/Townhouse 2 units 3 units 4 units Other Property value $ *Required