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re: 5yr. Balloon Loan w/ 10yr. Amort. (Any hidden things I should worry about?)

Posted on 8/18/16 at 4:10 pm to
Posted by Wortivi22
Land of Mini Vans
Member since Dec 2007
855 posts
Posted on 8/18/16 at 4:10 pm to
Any chance you could get a fully amortizing loan and not have to worry about refi on the balloon? My worry would be that interest rates really can't go anywhere but up and you are taking a chance on the refi at 5 years reflecting that.
If you could lock in a 10 yr rate for 100 more (give or take) basis points, I think it would be worth it, rather than the unknown of future interest rates.
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