Balloon Payment Mortgage Loan
A balloon payment mortgage loan is considered to be a high risk loan, where the borrower is supposed to make reimbursement within a short period of time and that too in a single payment rather than a series of payments over a long time period.
Nonetheless, they could be payment free or require interest only payments. What actually makes this form of mortgage more dangerous for creditors is the repayment method where payment has to be made in one single portion as compared to installments which make a constant source of money throughout the existence of the loan.
However, the construction industry is greatly benefiting from this by providence of short-term loan without any assurance or indemnity having said that; this type of loan continues to be more risky than other types of credits due to the higher interest rates issued to the borrowers and maintains a level uncertainty.
WHY THE VANGUARD MORTGAGE?
DIRECT LENDER
DIRECT UNDERWRITER
Set guidelines and a streamlined underwriting process make closings happen swiftly. As fast as 48 hours
PROFESSIONALISM
WHOLESALE RATES
Correspondent lending gives us the ability to bring wholesale rates to the consumer
3 EASY STEPS
TO GET YOUR MORTGAGE
Prequalification
Start with some basic info about your assets, credit profile, income. As a result – amount to borrow and the rate
Application
Funding
CALCULATE YOUR MORTGAGE
SOME FEATURES YOU MIGHT LOVE:
Privacy
We do not share information with any third party companies or resellers.
Quick Turnaround
We built technology that helps expedite the review of your loan documentation. This leads to faster closings and a better overall experience for our clients.
Credit score under control
Application process does not affect your credit score.
Online
You can allpy online, upload required dociments, schedule a conversation with a mortgage loan originator here. Everything at one place.
Transparency
Our technology ensures that you are kept up-to-date on the status of your loan application at all times. You will have secure access to your loan documentation throughout the process.
SOME QUESTIONS LEFT?
NMLS 1739929
© 2019 The Vanguard Mortgage LLC