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Updated about 7 years ago on . Most recent reply

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Mihaela Moraru
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Balloon Payment vs. Regular Financing

Mihaela Moraru
Posted

Hello,

I am planning to buy a condo and I have two options to finance it: through a lender with 35% down payment for 30 years and a lot in closing costs or seller financing with the same interest rate (6%), but with a balloon payment in 5 years. 

Which one would be a better option?

Thank you,

Michelle 

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