A balloon mortgage is a specific type of amortization for a home mortgage. Borrowers make normal amortized payments for a specific period and then liquidate the remaining principal with a “lump sum” final payment. This “lump sum” payment is referred to as the “balloon payment”. Balloon mortgages can be amortized with full interest or interest-only […]
Bi-Weekly Mortgage Payment Calculator
Feel free to use our Bi-Weekly Mortgage Payment Calculator as often as you’d like. Experiment with our it to determine the exact extra principal payment you can make monthly to reach your early payoff goal plus see the interest saved. Be sure to favorite this page to make it easy to return over and over […]
15 vs 30 Year Mortgage Calculator
I have always wondered why more Americans do not choose the 15 year vs the 30 year mortgage. Do you know in most countries, including Canada, there are no 30 year amortization mortgages as the government feels it enslaves home-owners into paying for a home virtually their entire lives? I know the main reason home […]
