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Balloon Loans

Balloon Loans require level payments (such as a fixed rate loan), but come due before their maturity rate (typically three to ten years after the start date). When a Balloon Loan comes due, the loan's entire remaining principal balance is due and payable. Balloon Loans often offer a lower rate of interest in comparison to a fixed rate loan, but they can be risky, since refinancing is not always an option.

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