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re: 5yr. Balloon Loan w/ 10yr. Amort. (Any hidden things I should worry about?)
Posted on 8/19/16 at 12:33 pm to TheWiz
Posted on 8/19/16 at 12:33 pm to TheWiz
Exactly my point, live it up and enjoy things to the fullest while you still can. Sounds like u are doing it right so far. It will be a lot harder to travel so much when the baby comes, and as the kids get older the expenses really rack up.
This post was edited on 8/19/16 at 12:38 pm
1
Posted on 8/20/16 at 8:16 am to 632627
Why are you not looking into a long term fixed rate? I agree with the above id rather lock in a long term fixed rate now than have a balloon. It can't be that big of a difference is it? Rates are so low right now I'd have no issue paying .25 more for a fixed rate. If life happens and you have to refinance in 2-4 years there's a good chance these low rates will be gone plus you'll have the piece of mind of no balloon payment.
I don't see the balloon as a big deal and it will
Motivate you to pay it off faster. I just think with historically low rates a long term fixed makes so much sense.
I don't see the balloon as a big deal and it will
Motivate you to pay it off faster. I just think with historically low rates a long term fixed makes so much sense.
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