Washington, DC, Chevy Chase and Bethesda real estate and homes for sale in Maryland - Melinda Estridge, REALTOR® Melinda Estridge REALTOR(r) for Washington, DC, Chevy Chase and Bethesda, Maryland real estate - NUMBER1EXPERT™ Melinda Estridge NUMBER1EXPERT(tm) for Washington, DC, Chevy Chase and Bethesda, Maryland real estate
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Local Information: Washington, DC, Chevy Chase and Bethesda Maryland home buying, real estate listings, and homes for sale in Montgomery                     County, MD
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Real Estate Tips
Financing Your Home >Balloon Mortgages

In loan terminology a "balloon" is the unpaid loan balance that must be paid in full on a specified due date. Federal savings and loan associations are permitted to make balloon mortgages with as little as five percent down and monthly payments that are smaller than the amount needed to fully amortize the debt. On the due date, which may be only a few years after the loan was made, the balance must be paid off or the loan must be renegotiated. Balloon borrowers must be cautious and plan carefully to avoid overlooking balloon payment obligations. It is easy to be lulled into complacency by the easy monthly payment terms.

Today's complex economics have produced a wide variety of options for potential borrowers, who are often surprised by how much house they can afford to buy. Loan approval is ultimately in the lender's hands, but your real estate agent can help you to determine your real buying power.

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Real Estate Trivia
Q 
What is the world's largest palace?

A 
The Imperial Palace (Gugong) in the center of Beijing, China covers over 178 acres and dates back to the early 1400s.
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Melinda Estridge, REALTOR®, real estate agent and broker for Washington, DC, Chevy Chase and Bethesda Maryland home listings, property and land for sale - NUMBER1EXPERT(tm)

Melinda Estridge
Long and Foster Realtors Bethesda

4650 East West Highway
Bethesda, MD. 20814
Phone: 301-215-6837
Fax: 301-951-7668
Email: melindaestridge@NUMBER1EXPERT.com

Melinda Estridge is in the TOP ˝% of all Realtors in America with over 200 million in Sales. She brings her clients over 20 years of experience. Her service, reputation, and professionalism are well respected. Real estate and homes for sale in Bethesda and Chevy Chase Area of Maryland and Washington DC are her speciality.


Long and Foster Realtors real estate and homes for sale in Washington, DC, Chevy Chase and Bethesda Maryland

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