Can I take a balloon loan?
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pennie
Apprentice
Joined: 29 Jun 2005
Posts: 6
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 Posted: 06/10/08 - 07:05 Post subject: |
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| I have recently been thinking about getting a loan. It seems to me that the best way to buy a house is such a solution. However, I would like to know can I take a balloon loan. Such an information could help me a lot, so if anyone could tell me, I would be grateful. |
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ulric
Apprentice
Joined: 23 Mar 2005
Posts: 5
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| Posted: 07/09/08 - 21:40 Post subject: |
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| Making a decision to get a loan, you have decided to commit yourself financially for a certain number of years, and the bank where you are getting the credit has agreed to give you their money. However, they also charge you for that approval. Another thing is your credit rating. They assess it and estimate your financial capabilities. Now, a balloon loan is very risky. It seems to me that you should be careful. Even though its rates are low, it still has a large amount to be paid after it matures. If you are sure of your financial prospects, take it. |
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