Balloon Mortgage
A balloon mortgage, which is amortized for a longer period than the term of the loan. Usually this applies to a thirty-year amortization and a five-year term. At the end of the loan's term, the remaining outstanding principal on the loan is due. This remaining payment is known as balloon payment.
What People are Saying
Thank you Eagle River Mortgage for helping us get our dream home! We never thought in a million years that our first home would be this one. But thanks to the positive attitudes and hard work, you made it happen for our family! We went to several mortgage companies and were treated as if they just did not care. They did no research to find a program that would fit our needs. They could not help us, needed 5-10% down, or just would not loan the amount we would have liked. But, you took us by the hand and lead us through the process. We had always heard that buying a home is very stressful. You made it so easy for us…. and because of you and your team we are finally living the American dream!!
We will definitely refer everyone we know to Eagle River Mortgage.
Eagle Idaho