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What if you can't afford the balloon payment?

Answer   Lenders do not want you to default on your mortgage. As with any other mortgage, in the case of the balloon payment, your lender will try to work with you to ref

What is balloon payment?

A balloon payment is a large, lump sum payment made either at specific intervals, or more commonly, at the end of a long-term balloon loan. Balloon payments are most commonly

What is a balloon payment?

A balloon payment is a large, lump sum payment made either at specific intervals, or more commonly, at the end of a long-term balloon loan

How do you calculate mortgage payments with a plain calculator?

You can do it, but it isn't exactly straight forward. Here is the basic formula that you will need to follow: M = P * (i / (1 - (1+i)^-T)) M - is the monthly payment P - is

What is a final balloon payment on a car payment?

A "balloon payment" is a final, usually quite large, payment on a loan. Essentially what you're doing in such a loan is taking a (slightly) smaller monthly payment in exchange

How do you calculate the circumference of a balloon?

Balloons are rarely (if ever) spherical, so you need to decide what you mean by its circumference. On possible way is to make a slip-knot noose with a piece of string.  Slide

When inquiring about real estate property is it appropriate to ask for the monthly payments amount or is certain information about the buyer necessary before it can be calculated?

An agent or a lender can give you a quick estimate based on how much of a down payment you want to put on the house. They would be making assumptions like you are qualified by

How do I calculate down payments with a mortgage calculator?

When you use a mortgage calculator to figure down payments, you can enter the percentage of a down payment that you would like to make. That will show as a dollar amount when