Turlock real estate CA, Modesto real estate and Merced County real estate, home listings and homes for sale in California - Pamela Easton, REALTOR® Pamela Easton REALTOR(r) for Turlock, Modesto and Merced County, California real estate - NUMBER1EXPERT™ Pamela Easton NUMBER1EXPERT(tm) for Turlock, Modesto and Merced County, California real estate
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Pamela Easton, REALTORŪ, real estate agent and broker for Turlock, Modesto and Merced County California home listings, property and land for sale - NUMBER1EXPERT(tm)
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Mortgage Calculators: Turlock, Modesto and Merced County California home buying, real estate listings, and homes for sale in Stanislaus                     County, CA
Welcome > Resources > Mortgage Calculators > Balloon Mortgages ...


The Best Mortgage Calculators On the Web!
 

Please try my Java loan and mortgage calculators. They take a minute to load, but they are worth it! Each calculator has dynamic graphs and charts that change - right before your eyes - as you enter different information. Each financial calculator also includes a View Report option. The mortgage repayment schedule and other reports are fully customizable. These reports are designed for you to print out and keep...
 

Are Balloon Mortgages For You?

A balloon mortgage can be an excellent option for many home buyers. A balloon mortgage is usually rather short, with a term of five to seven years, but the payment is based on a term of 30 years. They often have a lower interest rate, and can be easier to qualify for than a traditional 30 year fixed mortgage. There is, however, a risk to consider. At the end of your loan term you will need to pay off your outstanding balance. This usually means you must refinance, sell your home or convert the balloon mortgage to a traditional mortgage at the current interest rates.

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Definitions

Mortgage amount
Original or expected balance for your mortgage.

Interest rate
Annual interest rate for this mortgage.

Term in years
The number of years over which you will repay this loan. The most common balloon mortgage terms are 5 years and 7 years. After the mortgage term is complete, you will then need to refinance or pay off the remaining balance.

Monthly payment
Monthly principal and interest payment (PI). The monthly payment is calculated using a 30 year term.

Total payments
Total of all monthly payments over the term of the balloon mortgage. This total payment amount assumes that there are no prepayments of principal.

Total interest
Total of all interest paid over the term of the balloon mortgage. This total interest amount assumes that there are no prepayments of principal.

Prepayment type
The frequency of prepayment. The options are: none, monthly, yearly, and one-time payment.

Prepayment amount
Amount that will be prepaid on your mortgage. This amount will be applied to the mortgage principal balance, based on the prepayment type.

Start with payment
This is the payment number that your prepayments will begin with. For a one time payment, this is the payment number that the single prepayment will be included in. All prepayments of principal are assumed to be received by your lender in time to be included in the following month's interest calculation.

Savings
Total amount of interest you will save by prepaying your mortgage.

The mortgage calculators are provided by KJE Computer Solutions, LLC and made available to NUMBER1EXPERT as self-help tools for your independent use and are not intended to provide investment advice. We can't guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.




Pamela Easton, REALTORŪ, real estate agent and broker for Turlock, Modesto and Merced County California home listings, property and land for sale - NUMBER1EXPERT(tm)

Pamela Easton, CRS, GRI, SRES, REALTOR
Century 21 M & M and Associates

1351 Geer Road - Suite 103
Turlock, California 95380
Direct: (209) 633-1845
Office in Residence: (209) 664-9742
Cell: (209) 605-4584
Fax: (209) 664-9812
Pamela.Easton@Century21.com

Pamela Easton, CRS, is the Number One Agent in Marketing and Technology in the Central Valley areas of Modesto and Turlock. She is a licensed REALTOR in the State of California. Pamela has a background in the Real Estate Industry that few agents can match. Being a third generation Real Estate Professional, with her own career starting in residential lending in the late 60's, Pamela is able to take the 30+ year background she has and combine it with the technology of today! That spells SUCCESS for her clients. She is a forerunner in the way Real Estate has integrated with technology in the Central Valley. Known for staying on top of the industry changes. She has continually demonstrated throughout her career by constantly updating and educating herself. She has earned the following designations: CRS (Certified Residential Specialist),GRI (Graduate Real Estate Institute), SRES (Seniors Real Estate Specialist--Senior Advantage Real Estate Council) and CRMO (Certified Residential Mortgage Originator - California Mortgage Bankers Association)--although not originating loans, this designation is a very strong benefit for Pamela's clients. A member of the Council of Residential Specialists, Association of Professional Mortgage Women, National Association of Realtors, Merced Association of Realtors. Proudly affiliated with Century 21 M & M and Associates, her mark of excellence has included CVAR Masters Club, Million Dollar Club, and the coveted 'Centurion Producer' awards - along with being the first of over 90,000 Century 21 agents NATIONWIDE to receive the 'Technology Award' presented for the very first time in 2003! March 2007, chosen ONE of THREE agents to exemplify the 'Gold Standard' for Century 21 agents nationwide.

CRSGRIREALTORSRESMLSEqual Housing






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